Author: CFI.co Blogger

Business

Business owners urged to take six steps to limit coronavirus risk to their operations

Author ByCFI.co Blogger

AMID all the uncertainty caused by the coronavirus outbreak business owners may feel their fate isn’t in their own hands – but in fact there’s lots that they can do to help them take control.

Business owners urged to take six steps to limit coronavirus
David Tew

“These are uncertain times. No-one knows exactly how this is going to play out. But there are certain things you can do to protect your business,” said David Tew, a dispute resolution specialist with Cartmell Shepherd Solicitors.

“A bit like the advice across society about taking sensible steps such as washing your hands, there are steps you can take as a business to protect yourself,” said David.

Here David shares half a dozen simple steps aimed at helping you and your business to be prepared and to focus on what you can control.

1. Check your ongoing contracts

“Check your contracts. What are your obligations and your rights? 

“Will coronavirus allow a contracting party to pull out of its obligations on an existing contract? It depends very much on what is the exact wording in the contract.

“In particular you should be checking is there a force majeure clause in your contracts which allows a party to suspend or terminate the performance of its obligations when certain circumstances beyond their control arise.

“If there is not a force majeure clause then it is possible to look at the legal doctrine of ‘frustration’ where it is impossible to complete a contract because of a change of circumstances outside your control. But this is open to different interpretations and may be difficult to rely on, highlighting the importance of ensuring that your contracts are fit for purpose.”

2. Check your insurance policies

“Have a close look at your business insurance policy to see if you have any business interruption coverage and check exactly what those terms are.”

3. Carry out a risk assessment

“Carry out a general risk assessment on all parts of your business to identify exactly what is at risk, and then focus on controlling those areas which are within your control.” 

4. Take practical steps

“So far much of the focus has been on the international aspect of coronavirus. But that is set to move to a more domestic level and it is important as a business owner that you do everything you can now to make sure you, your employees, your supply chain and your clients are as prepared as possible.

“If we are moving towards a situation where the advice will be for more people to self-isolate, or if there are restrictions of movement, then there are practical steps that you can take now to mitigate those risks.

“If you want to move to more remote working, then check the practical issues that will involve. Do the business processes and procedures work remotely? Check employee policies – do they cover working from home? Is it practical for all employees to work from home? Do they have a safe environment to work in?

“Review your supply chain. Have a discussion with those in your supply chain and discuss action plans with them.”

5. Keep communicating

“It is really important to keep communication channels open between you, your employees, your clients and your supply chain. Keep talking and discussing how you can support each other. Follow any guidance online https://www.gov.uk/guidance/coronavirus-covid-19-information-for-the-public

“Identify ways you can work together. There will be cases where because of the way a contract has been worded, it is within your legal right to ensure that those obligations are met. But that might not be the best approach when it comes to long-term business relationships.

“You are likely to want those relationships to be positive in the long term. And while the temptation might be to jump on the specific wording in a contract, remember that your clients and customers will still be here long after this situation has come and gone. How you act now, is likely to affect those business relationships in the future. 

“By showing flexibility and understanding and being willing to restructure that arrangement in the short term, is likely to be of benefit in the long term.”

6. Ensure you have good legal advice

“A good solicitor will help you with your concerns and give you the advice on how you can best protect your business. We have a six-strong team in dispute resolution at Cartmell Shepherd led by director Mark Aspin. If you are unsure about anything it is always best to ask.”

Business

Chancellor Must Use Budget to Give Family Businesses Confidence to Invest in the Future – Starting with Maintaining BPR

Author ByCFI.co Blogger

The Institute for Family Business (IFB) is calling on the Chancellor to use his Budget on Wednesday to create an environment that gives family businesses the confidence to invest in future growth.

Reports that the Chancellor intends to review the Business Property Relief (BPR) in the upcoming Budget, are deeply concerning to the UK’s family run businesses.  Family businesses employ over 13 million people and generate 28% of the UK’s GDP.  Family firms continue to exist for generation after generation by innovating, adapting and looking for new markets and opportunities. They make investment decisions for the long term.

Every year 85,000 family SMEs are expected to transfer ownership of their businesses to the next generation. Removing BPR would force family run firms to pay a tax penalty on transfer, which others don’t have to. 

Fiona Graham from the Institute for Family Business said:

“Family firms are the driving force across all regions, communities and sectors of the UK. Well over 80% of businesses in Yorkshire, the North West and the East and West Midlands are family owned. In those four regions alone family firms employ nearly four and a half million people.

“Inheritance tax relief is essential to their future prosperity.  Scrapping it would have a catastrophic impact on family firms. It would lead to family run businesses being sold or broken up to pay an Inheritance Tax bill, with knock on effects on employment.  It will also damage confidence in the sector, where families would reduce investment and always plan for the worst.

“The introduction of BPR positively impacted the health of family businesses and the wider economy by giving business owners the confidence to invest and expand.

“The majority of British businesses are family businesses.  They are dependent upon BPR for their current and future prosperity. Any change to it would inevitably result in a decline in growth and investment coupled with stagnation in the number of new jobs being created.

“As the UK seeks to level up nationally in the coming years, the success of family businesses will be a crucial factor in doing so. In order to succeed and grow, they require a stable tax system and an economic environment.  The future of the family business sector – and ultimately the Government’s ambitions for regional growth and investment – rely on maintaining BPR.” 

The Institute for Family Business is the UK’s family business organisation, supporting and promoting the UK family-owned business sector through events, networking, representation, and thought leadership.

Two-thirds of British businesses are family businesses – ranging from multinational, multibillion-pound businesses to micro start-ups, the sector employs over 13 million people and contributes £182 billion in taxes. 

Lifestyle

Amos Rex in Helsinki awarded New Cultural Destination of the Year in Europe at LCD Berlin Awards

Author ByCFI.co Blogger

The Amos Rex Art Museum in Helsinki has won the prestigious LCD (Leading Culture Destination) Award for New Cultural Destination of the Year – Europe. The awards, coined “the Oscars for Museums” by the international press, were presented at the annual LCD awards ceremony in Berlin on 4 March 2020.

Amos Rex in Helsinki awarded New Cultural Destination of the Year in Europe at LCD Berlin Awards

Since opening in August 2018, the Amos Rex Art Museum has made a big impact on the cultural scene in Helsinki, attracting over half a million visitors during its first year. Amos Rex is an art museum where the past, present and future meet. The iconic functionalist Lasipalatsi building (i.e. Glass Palace) and the new gallery spaces under its undulating square, provide 10 000 m2 for unique experiences both below and above ground, as well as on the silver screen of Bio Rex. Amos Rex’s exhibition programme extends from the newest, often experimental, contemporary art to 20th-century modernism and ancient cultures. The new museum space was designed by Finnish architecture office JKMM. 

“We are extremely honoured at Amos Rex to receive the LCD Award for New Cultural Destination of the Year in Europe. It is a significant award for us, as we aim to serve the international public as an art museum, architectural attraction and urban meeting place. We are delighted to see how Amos Rex is contributing to Helsinki’s appeal as a cultural city in Europe”, says Kai Kartio, Museum Director of Amos Rex.

Helsinki – a thriving city of arts and culture

Feeding its lively cultural scene, Helsinki continues to position the culture amongst its core values, building on its reputation as an art, design and architecture capital. With residents visiting cultural institutions more than ever before, ambitious initiatives such as the 2018 Amos Rex Art Museum and Oodi Central Library openings demonstrate the city’s forward-looking commitment to creativity.

Championing local contemporary art and its relationship with the global community, the eagerly anticipated Helsinki Biennial 2020 draws on Helsinki’s distinct characteristics and the surrounding archipelago, offering a unique contribution to the international art scene.

“Helsinki believes in culture. The city is a diversified and internationally attractive city of arts and culture, with Amos Rex as one of the leading attractions. Working together with cultural institutions such as Amos Rex, the new central library Oodi and the upcoming international art event Helsinki Biennial, we are further strengthening Helsinki’s position as a must-visit city of culture”, continues Laura Aalto, CEO of Helsinki Marketing.

For more information, please contact:
 

Amos Rex
Iia Palovaara, Communications Officer
+358 50 544 3331
iia.palovaara@amosrex.fi

Helsinki Marketing
Laura Aalto, CEO
+358 40 507 9660
laura.aalto@hel.fi

Helsinki Marketing is a company owned by the City of Helsinki. It is responsible for operative city marketing and business partnerships for Helsinki. Helsinki Marketing interacts with local residents, visitors, decision-makers and experts. 

Corporate Finance

European FinTech Lending Industry to Hit $9.6bn Value This Year

Author ByCFI.co Blogger

Innovative lending services, such as crowd and P2P marketplace loans, are becoming increasingly popular in many European countries. With the development of financial technology, recent years have witnessed a growing number of business customers and private borrowers using these digital financial services.

According to data gathered by Finanso.se, the European fintech, or the alternative loans industry, is expected to hit a $9.6bn transaction value this year, growing by 10% year-on-year.

Crowdlending Generates Nearly 70% of Total Market Transaction Value

After the financial crisis, many traditional banks became very restrictive in approving loans, especially in some European countries, leaving businesses and individual consumers with no access to much-needed cash. This created space for lending platforms, which connected borrowers directly to lenders, and removed the banks from the equation.

Lending platforms use sophisticated computer algorithms to make lending decisions, provide fast loans, and lower rates to borrowers. Investors, on the other hand, are given the ability to easily invest in loans outside of their countries at attractive returns.

In 2017, the European fintech lending market hit $6.3bn value, revealed the Statista Alternative Lending Market Outlook. By the end of 2018, the market value increased by 20% and reached $7.5bn worth. The rising trend continued in the next twelve months with the entire market reaching $8.7bn value. The statistics indicate European fintech lending industry is expected to show an annual growth rate of 3.0% between 2020 and 2023, resulting in $10.5bn transaction value in the next three years.

The market’s largest segment is crowdlending or peer-to-peer business lending. In 2017, European peer-to-peer loans in the business sector reached $3.6bn worth. Over the last three years, the market value of the crowdlending loans increased by more than 75% and hit $6.5bn transaction value in 2020. Statistics show this amount will grow to nearly $7.2bn in the next three years.

Consumer peer-to-peer loans are forecast to edge up to $3.1bn value in 2020, twice less than business lending.

Number of European Fintech Loans to Reach 1.3 Million by 2023

Although peer-to-peer business loans represent the leading market segment, the statistics indicate a much higher number of consumer peer-to-peer loans in Europe. In 2017, there were more than 911,000 successfully funded alternative loans in the consumer segment.

Business peer-to-peer loans reached over 63,000, or 14 times less compared to consumer loans. In the last three years, consumer and business alternative loans rose to 1 million and 75,900, respectively. The average funding per loan in the crowdlending segment is expected to reach $86,185 this year. Statista survey indicates the total number of European fintech loans will amount to over 1.3 million by 2023.

Compared by geography, the United Kingdom represents the leading European fintech lending market, and the third-largest fintech lending market globally. According to statistics, the total value of UK fintech loans is expected to peak at a value of $4.8bn this year.

Switzerland ranked as the second-largest market in Europe with $1.4bn worth transactions in 2020, growing by remarkable 27.4% year-on-year. With a $796 million transaction value in 2020, Italy ranked as the third-largest fintech lending market in Europe.

However, besides Switzerland, Denmark and Spain are expected to see the highest growth rates in the following years, rising by 23.7% and 22.9% respectively year-on-year.

Read the full story here: https://finanso.se/european-fintech-lending-industry-to-hit-9-6bn-value-this-year/

Finance

What’s the secret to trading on the financial markets?

Author ByCFI.co Blogger

Giles Coghlan, chief currency analyst at HYCM

Giles Coghlan of HYCM
Giles Coghlan of HYCM

There are countless books claiming to elucidate exactingly how to invest over the long-term. However, ask any seasoned trader what the secret is to an effective investment strategy and you’ll quickly find there is no one tactic or panacea for consistent growth.

Instead, what most traders rely on is an informed and reactive understanding of both current affairs and unfolding market trends to help inform their investment decisions. By letting this understanding dynamically inform one’s portfolio, they are able to confidently react to sudden market shocks.

Investors must therefore have one eye on the present and one eye on the future, and understand how different social, political, geographical and economic events could impact their portfolio. This understanding must be informed by an awareness of how past events have affected the prices of different assets. Thankfully, there are plenty of useful ways that investors can prep for the future.  

Markets are all about cause and effect

The fundamental operation of the financial market is one of cause and effect; one event or price movement will inevitably affect the prices of other assets. Whilst this is a simple enough concept, big political and social events often trigger a multiplicity of effects, which can in turn impact on one another.

For example, the recent outbreak of coronavirus is having a major impact on global supply chains; China’s productivity has been negatively affected, which has had a flow-on effect on major businesses that rely on China as part of its supply chain.

In terms of market volatility, there is a huge amount of historical evidence which shows how the coronavirus could impact asset prices. One central theme is likely to be the increase of value in ‘hard commodities’ — physical investments like gold, steel and oil. That is because these so-called safe haven assets are perceived as having global appeal and consistent demand, and therefore offer greater resilience in times of volatile trading conditions.

Never overlook the advantages of an informed strategy

I doubt you could find many long-term traders who have not woken up one morning to see that there has been a dip in the value of their investments as a result of an unforeseen geopolitical event. For those who find themselves in this situation, it can be easy to panic and make uninformed decisions. This is the entirely wrong approach to take.

By its very nature, finance is an unpredictable sphere of work, and unexpected shocks are par for the course. That’s why the strongest financial plans tend to include or account for the unforeseen. When prices dip or there is a sudden market shock, it has been for the most past accounted for and leaves little room for sudden trades that are informed by the heart, not the mind.

Remember to diversify (within limit)

Another way of managing market volatility is ensuring your portfolio is diverse, with investments spread across multiple markets. Doing so reduces your portfolio’s risk of suffering significant loses should one particular market or sector be adversely affected by an unexpected event. However, the key to diversification is not to cast your net too wide.

The broad points that need internalising here can be surmised very briefly: knowledge is power.

Mastering the complex nature of different financial markets is not simply about watching the fluctuating prices of assets. It’s also about understanding the historical performance of different markets, analysing previous trends and using all this as a guide to manage your investments during sudden political and economic shocks.

What’s more, any investment decision or trade needs to be part of a bigger strategy with goals, returns and risk exposure all clearly defined. Doing this ensures that investors and traders are in the position to stay on top of their financial portfolio.

High Risk Investment Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. For more information please refer to HYCM’s Risk Disclosure.

Giles Coghlan is Chief Currency Analyst at HYCM – an online provider of forex and Contracts for Difference (CFDs) trading services for both retail and institutional traders. HYCM is regulated by the internationally recognized financial regulator FCA. HYCM is backed by the Henyep Capital Markets Group established in 1977 with investments in property, financial services, charity, and education. The Group via its relevant subsidiaries have representations in Hong Kong, United Kingdom, Dubai, and Cyprus.

Economics

Global sell-off could be seen by investors as best buying opportunity in a decade

Author ByCFI.co Blogger

The worst global market sell-off since the 2008 crash will become an important buying-opportunity for investors, affirms the chief executive of one of the world’s largest independent financial advisory and services organisations.

The prediction by Nigel Green, CEO and founder of deVere Group, comes after equities lost a tenth of their value this week as investors piled into havens on growing concerns the coronavirus outbreak will hit the world economy and impact corporate profits.

Mr Green notes: “Until this week, the markets had largely shrugged off the impact of the outbreak of coronavirus.  We warned about complacency leaving many wide-open to nasty surprises.

“This has now changed. Investors have done a ‘one eighty’ – from a muted overly confident reaction to the serious and far-reaching global issue of coronavirus to running like headless chickens. 

“Both extremes are worrying and could potentially wreak havoc on investors’ returns.”

He continues: “However, the worst global market sell-off since the 2008 crash will almost certainly become an important buying-opportunity for many investors. 

“With markets on the brink of correction territory, panic-selling, mis-pricing of high quality equities, and lower entry points, this could turn out to be one of the key buying opportunities in the last 10 years.

“Some of the most successful investors will embrace volatility to create, maximise and protect their wealth.

“As ever in times of increased turbulence, there will be winners and losers. A professional fund manager will help investors take advantage of the opportunities that volatility presents and mitigate potential risks.

Earlier this week, Mr Green noted: “In the current volatile environment, investors – including myself – will be revising their portfolios and drip-feeding new money into the market to take advantage of the opportunities whilst reducing risk at the same time.”

The deVere CEO concludes: “Global investors should not be spooked by the return of volatility on stock markets but, where possible use it to their financial advantage.  

“Of course, no–one knows for sure what will happen in the immediate future but, as stock markets typically rise over a longer-term period, now is the time to capitalise on the more favourable prices of decent stocks.

“It can be expected that in coming days, serious investors will be bargain-hunting.”

Finance

AlRaedah Finance and Sure Global Tech seal agreement providing POS Financing Across the Kingdom

Author ByCFI.co Blogger

26th February 2020  – Riyadh –   AlRaedah Finance and Sure Global Tech today signed an agreement for providing Point of Sale (POS) financing to SME’s across the Kingdom. Representing AlRaedah Finance, Paul Melotto, AlRaedah CEO, signed the agreement alongside Sure Global Tech  CEO, Basem Bn Abdullah Alsallom.  The Agreement brings together two industry leaders in providing a unique first of a kind financing solution to SME’s. The signing ceremony took place on the 26th of February 2020, at the MEFTECH conference hosted at the Riyadh Ritz Carlton Hotel.

POS Financing is one of the most innovative products in alternative business finance.  Put simply, it uses the business’s POS terminal to ‘secure’ short term lending — perfect for businesses without many assets, but who have a good volume of credit/debit card transactions every month. SME business owners taking advantage of POS Financing won’t have monthly payments. Instead, repayment is automatic and taken from their daily credit/debit card processing settlements. It’s simple, easy and affordable because repayment is a fixed percentage of POS transactions, and not a fixed Riyal amount. Hence, when POS sales are high, the merchant repays more; when they’re lower, they repay less.

“We have seen other POS financing-related products in the market and they were clearly often one-sided in favor of the Banks so we have tried leveling the playing field to make this product a win-win for both the SME and Financial Institution.”, said Paul Melotto, AlRaedah CEO.

The amount a business can apply for is determined by their average credit/debit card sales. AlRaedah Finance, by way of its advanced Artificial Intelligence models along with AlRaedah’s Financing platform allows it to quickly analyze data and avail funds ranging from SR50,000 to SR500,000 to approved SMEs.

Basem bin Abdullah Alsallom, Sure CEO, said that Sure Global Tech is excited to team up with AlRaedah in leading the digital transformation through effective business and digital solutions. Since the establishment of the company in 2004, Sure Global Tech has been keen on providing different governmental and private bodies with the best digital solutions as a part of its contribution in the Kingdom’s digital transformation journey.

“We are excited that Sure Global Tech has decided to use AlRaedah finance platform to provide financing to their clients” said Abdulaziz Aldawood, AlRaedah Chief Commercial Officer.

Paul added, “We are already working on enhancement to the product based on the feedback of our initial pilot group of SMEs and will continue to provide the Saudi market with new and innovative financing solutions”.

At times, it might be tough for small businesses to get funding through traditional financing. AlRaedah Point of Sale POS Finance Program, in collaboration with SURE Global Tech is the solution. With approval rates of 85%, a simple application, minimal documentation and no guarantors, SME’s can get their financing in a matter of days to grow their business.

About AlRaedah Finance

AlRaedah Finance is the pioneer of bespoke solutions for small and medium sized enterprises, (“SMEs”) seeking to achieve long-term, sustainable growth. Since its establishment in 2014, AlRaedah has become the principal financing institution for SMEs in the Kingdom of Saudi Arabia. Our success is built on our simple, transparent process, our in-depth understanding of the local market, and our flexible financing programs.

AlRaedah Finance offers the most extensive coverage for Sharia’h compliant financing solutions within the Kingdom, with its headquarters located in Riyadh, a branch office in Burayda, and aggressive expansion plans. Our ease of accessibility ensures that we maintain our position within the financial services sector.

About Sure Global Tech  

Since its 2004 inception, Sure Global Tech has developed Saudi expertise with international standards to provide technological and consultative solutions for a considerable number of public and private organizations in the country. By national talents, Sure provides services of software development, infrastructure, support and operation along with the digital transformation consultations and other SME-oriented products. Recently, Sure advanced two new fields i.e. FinTech which is embodied by its new company “SurePay”; and investing in promising startups.

Finance

Coronavirus-triggered market correction could hit complacent investors

Author ByCFI.co Blogger

Investors remain complacent about an imminent Coronavirus-triggered market correction of up to 10 per cent, warns the CEO of one of the world’s largest independent financial advisory organisations.

The warning from deVere Group’s chief executive and founder, Nigel Green, comes as global equities registered losses on Monday following a surge in cases in Italy, Iran and South Korea over the weekend, and as the first cases are confirmed in Kuwait, Bahrain and Afghanistan.

Mr Green comments: “Global financial markets retreated on Monday as they reacted to the coronavirus headlines over the weekend. But it is likely that they will quickly rebound, as they have consistently done in recent weeks. 

“Indeed, stocks keep on reaching record highs.

“This is because many investors remain complacent about the far-reaching impact of coronavirus, which is continuing to spread – and a faster pace. This will inevitably hit financial markets and investors’ complacency leaves many wide open to nasty surprises.”

He continues: “Major global companies, especially those with heavy exposure to the Chinese economy, are lowering profit guidances due to the outbreak. This will have a knock-on effect across international supply chains and throughout economies.  But is the message being heard by investors?

“In addition, coronavirus has struck at a time when major economies, including Japan, Germany, India and Hong Kong are facing a downturn due to other factors such as the U.S.-China trade dispute and political protestors, which could hit the world economy.”

The deVere CEO goes on to add: “Until such time as governments pump liquidity into the markets and coronavirus cases peak, a near-term correction – of up to 10 per cent – is increasingly likely.

“We are hoping for a V-shaped recovery, but our current view is that it will be U-shaped.

“Against this backdrop and with the ongoing uncertainty over the direction of stocks and other risk assets, multi-asset portfolios might be favoured by global investors, given that they offer diversification of risk as well as of return.”

Nigel Green concludes with a warning: “Global markets are at high valuations and the impact of the coronavirus on profits appears largely underestimated.

“In general terms, stocks have hardly been deterred by the coronavirus outbreak.  This complacency is concerning.

“Investors need to ensure that their portfolios are coronavirus-proofed as cases jump and a market correction looks more likely.”

Economics

Boris Johnson must release the potential of property post-Brexit

Author ByCFI.co Blogger

The past few months have seen a huge amount of political change. In December 2019, for example, the Conservative Party won their largest Parliamentary majority since 1987, while January of this year featured the passing of the EU Withdrawal Bill through parliament. With the recent cabinet reshuffle, and Sajid Javid’s resignation as Chancellor, February has also proven to be an eventful month.

Boris Johnson must release the potential of property post-Brexit
CEO and co-founder of FJP Investment: Jamie Johnson

However, in the period since the election, there has been a growing sense that we have returned to some semblance of normality. The three years after the referendum were turbulent and hostile, with nail-biting parliamentary votes and overheated political discourse becoming par for the course. With no election likely until the middle of this decade, and with the Government in a relatively strong position, this stress is seeming to subside. Whatever your political disposition, this is no doubt a good thing for businesses and investors.

Data suggests that the UK stock market grew by an impressive £33 billion in the immediate aftermath of the general election. The effects of the so-called Boris bounce have likely been overstated, but it has hasn’t been as short-lived as some had predicted. Property also saw an uptick; according to Zoopla’s UK Cities Price Index, demand for UK property rose at the fastest rate since 2017. Similarly, according to Nationwide, prices in January were at a 14-month high. This is especially good news in light of modest house price growth in recent years as a result of Brexit uncertainty.

Looking forward, then, the property market could be set for renewed growth.

What can the Government do to propel the property market forward?

As mentioned, following through on their Brexit promises is crucial. Whether you voted remain or leave, 2019’s missed deadlines created profound uncertainty amongst business leaders. Therefore, it’s not just about the completion of the process, but also about making sure negotiations go smoothly and businesses are being made aware of the progress made.

The EU Withdrawal Bill passing through parliament was an important first step. Indeed, it showed that this majority has allowed Boris Johnson to get on with Brexit in a way his predecessors found difficult. But the Government’s ability to tick all the other boxes during the transition period is unproven. There is still a long way to go in terms of reassuring the property market that Brexit is in safe hands and that investing can continue without concern.

Furthermore, the Government must also deliver on its previously stated aims for policy in the property space. The domestic market, for example, is supportive of a new stamp duty surcharge on international buyers of UK property — an approach the Conservative Party has previously supported. According to a recent poll conducted by FJP Investment, as many as 70% of UK property investors are in favour of such a move.

There are also other areas that the Government should follow through on to help realise the full potential of UK property. Fighting the housing crisis, for example, will require coordinated policy to encourage construction, investment, and stakeholder engagement. On that last point, the Conservative Party has previously suggested consulting local people on the design of new-build developments. Doing so would hugely increase the attractiveness of such developments, so it’s little wonder that 68% of investors surveyed by FJP Investment supported the policy.

The Government must also commit the necessary resources to construction if it is to tackle the central challenge to UK property: insufficient supply. More homes being built will almost certainly bring prices down and make rents more affordable, but a national building revolution, of sorts, may be required.

A recent promise of £100 billion for construction over the next five years is a step in the right direction, while Boris Johnson’s promise of a million new homes over the same period shows ambition for UK property. But governments of all stripes have set, and missed, huge housebuilding aims, and property leaders are tired of empty promises. Now is the time for investment and reform to fulfil that huge target.

Looking forward, UK property appears to be in a strong position. With so much latent demand, and with prices rising, 2020 is likely to be more positive than last year. Further, with Brexit likely to be completed, the entire market may be set for an upturn. However, this can only happen with the right government support and policy implementation — indeed, without it, the housing crisis will not be resolved. Thankfully, the Government’s aims broadly align with property investors’, meaning they likely have the right priorities to help property return to form.

Jamie Johnson is the CEO and co-founder of FJP Investment

Technology

Managed IT specialist expands to larger premises following glut of major contract wins

Author ByCFI.co Blogger

Nottinghamshire-based managed IT services specialist Octavian IT has celebrated winning a plethora of major projects by expanding into larger premises.

Managed IT specialist expands to larger premises following glut of major contract wins
Managed IT specialist expands to larger premises following glut of major contract wins

The Cyber Essentials-accredited company saw its annual recurring revenue increase by £78,000 over the last 3 months after snagging six prestigious contracts, several of which are with companies operating in the security industry. 70 per cent of the Octavian IT’s revenue now comes from highly-regulated, security-based industries.

The firm, which also recently added three new recruits to its team, has now moved to more extensive offices in Bingham as its rapid expansion continues.

One new contract valued at more than £142,000 over 2 years will see Octavian install IT and phone systems and provide ongoing 24/7 IT support and maintenance cover for a major London-based security services provider. The London firm has recently built a bespoke 7 figure ARC (alarm receiving centre) in the Midlands to service UK and international CCTV and physical security monitoring contracts.

Octavian IT also recently completed a major project which involved moving the longstanding accountancy practice to a new cloud-based centralised server system in Microsoft Azure, installing a cloud-based phone system and facilitating and managing IT systems at the firm’s new office in Twyning.

In addition, the cyber security specialist has set up IT systems for a high-end US footwear brand’s new site in London and will now provide full IT support to a London and Midlands-based logistics group.

The new contracts add to Octavian IT’s already-burgeoning client base, which includes four fully-contracted US companies, two of which operate in the medical industry.

Octavian IT Managing Director Ben Solomon said: “The past three months have been an exciting time for Octavian IT. We have added three new members of staff tour growing team, increased our revenue significantly and won six major contracts.

“We are continuing to make inroads into the security sector, and recently became Cyber Essentials accredited, which demonstrates our commitment to our own internal cyber security standards and protection of our clients systems. We’re pushing now for the next phase which is Cyber Essentials Plus, followed by the ISO standards.

“The speed and scale of our expansion made it necessary to take larger premises, which we have now done. We’re now looking forward to a busy and prosperous year ahead.”


Octavian IT is part of the award-winning multi-service provider Octavian Group.