From our Partners

Making the leap to starting up and running your own business can be a long and arduous journey. That's why Future50 is here to help.
As a Future50 member you have unique access to to some of the finest business advice available.
Here our partners share with you their business advice, important information for new entrepreneurs and all of the hints and tips that you need to succeed in business. 

 

Partner news

12/10/15

Sales and Marketing relationships

How important is an effective sales and marketing relationship? Dr Kenneth Le Meunier-FItzHugh, Senior Lecturer in Marketing at the University of East Anglia explains

 

How you create the most effective relationship between the sales and marketing functions within an organisation remains a critical dilemma for many business executives. Sales and marketing functions have the capability to help the organisation adapt to rapidly changing environments through providing information on customer needs and the activities of your competitors.

Research has found that collaboration between sales and marketing has positive effects, not just on profitability, but also customer satisfaction and retention, resulting in maximum benefits for the organisation. However, it's also been found that sales and marketing functions have their own different cultures, behaviours and objectives that are often conflicting, which can impede collaboration, and their working relationships are often described as unsatisfactory. As a result, achieving an effective sales and marketing relationship has proved elusive for many businesses. 

Sales and marketing functions should have the common goals of understanding customer needs and solving their problems in a way that is superior to their competitors. Marketing can lay the foundation for sales success through communication with the market place, creating brand value and producing promotional materials. Marketing actions should dovetail with sales so that they can deliver the value that the market demands. For this to happen it's necessary for sales to have a clear and unambiguous idea of what marketing is trying to achieve and how they intend to achieve it. 

Sales should feed customer and marketing information into marketing decision-making to aid their market comprehension. Sales and marketing need to collaborate over the development of sales leads and creating the customer journey. Each manager needs to push their counterpart to deliver on their jointly conceptualised customer value and this can only happen when sales have a deep understanding of marketing, and marketing really appreciates what sales is trying to achieve. 

It's important to defuse any conflict between sales and marketing and not to try to avoid it. Naturally, some conflict between functions is helpful in ensuring that preconceptions are challenged, decisions discussed and objectives are met. The trick is to prevent conflict from becoming dysfunctional or destructive, so that collaboration is always maintained.

This can be achieved through building communication and trust on both parts. By bringing sales and marketing together to discuss options and solutions to joint problems and tasks it's possible to use their different perceptions of the market to create customer value. Most importantly, sales and marketing need to collaborate through areas of overlap in their operations such as marketing intelligence, new product development, customer management, the creation of sales leads and the customer journey. 

To achieve the greatest success, the aim is to create a situation where there is a dynamic interaction or synergy between the two functional areas that results in greater value for the organisation that they can create independently. 


10/11/15

Establishing Business Priorities

Learn to anticipate, adapt, monitor and enjoy change. The successful business is one that can establish its priorities and retain a strong sense of direction, says Lovewell-Blake's Murray Graham

 

Businesses are dynamic, they evolve, and change is all part of the process.

It is important for business owners to establish where they see their business heading and which aspects they want to prioritise and focus upon. This sounds easy but sometimes when you are in the thick of it finding time, inspiration and focus can be a challenge.

Time is a scarce and valuable commodity but finding time is imperative in order to establish a process; to clarify options, agreeing on a focus and a direction, and then to develop a plan, setting out the actions to be taken, step by step.  

We help many businesses through such sessions and by helping the business owner to consider:

 

  • Their corporate goals
  • The definition of their own success
  • Positioning in the market place
  • Cultural values and people
  • Risks to the business
  • The most appropriate business structure
  • Key business activities and monitoring
  • Exploring the way forward

In this article we will identify just two of these action areas.

 

Key Performance Indicators and monitoring

 

It is often said that what gets measured get done.

More businesses of all sizes are recognising the value of key performance indicators (KPIs) and how they need monitoring to ensure the business objectives are met.

A concise and tailored monthly KPI analysis provides a complete picture of how well a business is performing and enables the business owner to plan for the impact of any changes in those KPIs. Such a management tool enables the business owner to focus on the areas which require particular attention. These KPIs are not only financial, for example, they might include the number of calls received by a call centre in a given period or the units of electricity consumed in a week.

 

Cultural values and people

It is no coincidence that where a work force is highly motivated with a team working towards a common goal, the business significantly increases the chances of achieving its goals. The working environment becomes a much more enjoyable place, which in turn leads to improved performance.

Separately, the creation of a business which can function effectively when key employees leave, can increase the value of the business. Such a business is less exposed to the risk of a key person leaving and it represents a major goal for business owners when they consider their exit strategy.

The human dimension is a vital consideration for any organisation. Culture, ethos and shared values can help drive a business forward. Likewise identifying the most efficient organisational structure is imperative to the long term success of the business.

Leon Tec said “a sailor without a destination cannot hope for a favourable wind “. How appropriate those words are to businesses, and to their fortunes.


10/11/15

Healthy business owner, healthy business

According to Constanze Eib, PhD, Lecturer in Organisational Behaviour, Norwich Business School, University of East Anglia, it's time to take the health of business owners seriously

 

The health of the business owner is synonymous with the health of the company - if the owner has a health problem this can bring down the whole company through absence, poor communication, and delayed or irrational decisions, for example. Therefore, the health of the business owner is a critical asset of the company, and this dependence on the owner is even greater for SMEs.

The WHO defines health as a “state of complete physical, mental and social well-being and not merely the absence of disease or infirmity”. Henry Fayol, one of the founders of modern management methods, saw the health of the business owner as the first fundamental quality, even before intelligence or a specific skill set. This is a common truth that is often neglected among business owners: When can you be more effective – when you are sick or when you are healthy? It is time to take the health of business owners seriously.

There are a number of reasons why maintaining good health is challenging for business owners. Long work hours, stress, pressure, fear of failure, uncertainty, high levels of risk and personal financial constraints, and solitude are long-term health risks. In addition, the responsibility for employees is a huge emotional stressor.  Business owners can often feel isolated, so engaging in networks with other business owners, associates or clients (like the Future50 programme) can be very helpful.

If these stressors are not met with an adequate response, health problems and burnout can materialize. This can have critical consequences as owner-managers are at the centre of all business activities; they transmit motivation and enthusiasm to the staff.

Despite these risks, however, most entrepreneurs have attitudes and beliefs that help them to stay healthy: optimism, stress tolerance, a belief in themselves and in their skills, innovativeness, and achievement motivation. And all these factors have been shown repeatedly to have a measurable positive effect on business creation and business performance.

My colleagues and I have followed over 400 French owner-managers of SMEs for two years, conducting telephone interviews with them every second month, mainly about their health but also about their businesses.

  • More than 50% had some kind of sleep problem
  • 30% regarded their physical health as problematic
  • 30% felt stressed
  • 60% found it difficult not to think about work when coming home
  • 20% felt isolated
  • 70% had emotional conflicts with their employees
  • 30% worked over 60 hours a week,
  • 20% lacked recognition for their work

 

Yet, 80% were satisfied or very satisfied with their job, and 85% were satisfied or very satisfied with their life in general.

We have found several practices that can help business owners to stay healthy. Physical exercise has been shown to be particularly effective as a stress management intervention. There is an abundance of research on the positive biological and psychological effects of exercise. It is also fundamental to find activities to wind down and recover from work – whether it is playing sports, meeting friends, engaging in hobbies, or caring for others. Individuals who can let go of work-related thoughts after work are more engaged the next working day.

As the prevalence of sleeping problems was quite high, it seems crucial for business owners to develop better ‘sleep hygiene’. This includes establishing a regular relaxing bedtime routine and not checking emails before going to bed.

As a Lecturer in Organisational Behaviour and a work and organisational psychologist, I am interested in better understanding how business owners and owner-managers can become healthier. If you are interested in finding out more about this work or would like to access professional advice, contact C.Eib@uea.ac.uk or 01603 59 7324.


11/11/15

Eastern Promise

The Eastern region is now home to the fourth largest pool of enterprises in the UK having seen a steady rise in entrepreneurship in recent years. According to Simon Smith, Regional Director, Barclays Wealth & Investment Management, Eastern Region, it's time we started focusing less on start-ups and more on scale ups

 

The UK’s entrepreneurial scene has undergone significant change in the past few years. Even the word ‘entrepreneur’ is a more familiar term within the professional landscape, as we see more and more start-ups emerge, particularly due to recent technological developments breaking down previous barriers to entry and giving business owners access to a global marketplace.

But while the start-up scene is thriving, are these businesses now struggling to grow their ventures to the next level?

Our sixth, and latest Barclays and BGF Entrepreneurs Index tracks the entrepreneurial lifecycle across different UK regions, using data to measure business growth and business exits. It reveals that in the East there was a four per cent rise in the number of enterprises in 2014, meaning the number of enterprises now stands at 227,000. This means the East is now home to the fourth largest pool of enterprises in the UK, after London, the South East and the Midlands.

Furthermore, Tech Nation’s recent Powering the Digital Economy report highlights Norwich and Norfolk as a newly-developing digital cluster, with an ever-increasing body of technology start-ups emerging, including online carpooling service company Liftshare, and customer feedback survey company Servicetick.

These figures should serve to inspire the young entrepreneurs of our future, and provide them with the confidence they need to form their own businesses.  However, the report also showed that despite a recent turnaround in the UK economy, the proportion of companies achieving, and holding onto, high growth is beginning to fall.

Within the Eastern region, the proportion of high-growth companies- within revenue bands of £2.5m and £100m- stood at 20.5 per cent in the year to March 2014, marking a fall of 14 per cent on the previous year.

While there is no single solution as to how we drive a greater number of start-ups towards high growth, what is now needed is a shift in emphasis, with more measures aimed at helping and encouraging leaders of businesses to reach the next phase of the entrepreneurial lifecycle.

It is also critical that we give successful organisations in the East a platform for sharing their success stories, so fledgling entrepreneurs and smaller businesses can benefit from their expertise and experience.

We are becoming more dependent on the successful scale-up of start-ups, as they contribute to employment, skills and economic growth. Small and medium-sized businesses in the Eastern region have a significant impact on the success of this region’s economy, with SMEs providing two thirds of all private sector jobs and contributing to around half of all GDP[1]

At Barclays we firmly believe that entrepreneurs and SMEs are the future of UK plc and play a vital role in innovation, therefore we must support the management of these businesses effectively. As a result it is now crucial that we provide these smaller companies in their earlier stages with the correct tools and best practice examples to help them achieve their full potential, and to increase the number of companies achieving high growth in the UK.

Find out more about the UK entrepreneurial landscape and how businesses can go from start-up to scale-up in the Entrepreneurs Index.



[1] 1 Department for Business Innovation & Skills, Business Population Estimates 2011


15/12/15

Angels and Dragons! Two sides of the same coin?

Is Dragons Den an accurate portrayal of how business angels behave in the real world? Does it really teach you how to be an effective investor or entrepreneur? No, says Tiago Botelho, Lecturer in Business Strategy, Norwich Business School, University of East Anglia 

 

The main focus of entrepreneurship training has been on preparing entrepreneurs to raise funding, Dragons’ Den style. In the tradition of Saint George, we ask our students to pitch an opportunity to a panel of Dragons or to play the role of a Dragon. But how much do they know about the Dragons? How much do they know about being a Dragon?

Dragons’ Den has contributed to an awareness of business angels. But it is first and foremost entertainment. So is it an accurate portrayal of how business angels behave in the real world? Can you learn to be an effective investor just by watching the show? The obvious answer is no!

In Forbes, Goncalo Vasconcelos, the CEO of SyndicateRoom (an equity crowdfunding platform that invests along with the major UK angel groups) acknowledges this problem. In his view, any resemblance between Dragons’ Den and real life is tenuous. But what are these differences? First, are the Dragons representative of the angel population? Second, is the contextual framework the same? Lastly, what are the criteria used by the Dragons to say ‘yes’ to an investment opportunity? Some of the Dragons on the show are known to invest in specific industries. This indicates a very specific and rigid investment criteria. To what extent is this true? Are the reasons to invest specific to the opportunity?

My research with Professor Colin Mason from the University of Glasgow provides some insights into these questions. First, in terms of representativeness, the angel population is so heterogeneous that the five Dragons cannot possibly represent the diversity within the angel community. It is hard to correctly represent all the different ‘types’ of angel investors, and while several attempts have been made to categorize the angel population the type of investor will depend on the study.

Second, in terms of context, on the TV show, the entrepreneur pitches to individual Dragons who are competing with each other - but does this correctly represent what happens in real life? Do business angels enter an auction to convince the entrepreneur to accept their offer? In reality, entrepreneurs will never see angels entering a bidding war. Angel investing has shifted from being a solo to a collective activity, which is a further challenge to the extent to which Dragons’ Den reflects the reality of angel investing. In addition, there is a high level of cooperation in angel groups, with some investors stating that they have been influenced by others in their investment decisions.

Lastly, in terms of the criteria used, investors do not always make decisions based on the same investment criteria. In a recent study with 465 investment decisions, we identified that 46% of investors changed their investment criteria. It is important to recognise these differences between a TV show and reality to be able to increase the chances of success in achieving investment from business angels.


25/01/16

What makes a brand?

Lovewell Blake's Murray Graham on the importance of brand and how it can add real value to your business

 

There are those who will find it strange to find an accountant writing about branding – that, surely is the domain of the marketing professional. In some ways you would be right, and I’m certainly not going to stray into the territory of giving advice on how to create a strong brand; but understanding the value of a brand is very much the domain of an accountant and business adviser who is concerned about maximising the value of a business.

To give you an idea of just how much real financial value a brand can bring, you only need to look at the actual values of some of the world’s biggest brands – these are actual numbers, equal in status to the machinery, buildings and other physical assets when it comes to measuring the true financial value of a company.

The Interbrand 2015 Brand Rankings put a value of $170 billion on the Apple brand, and calculate that the top ten brands in the world are worth between them a staggering $716 billion - that’s $100 billion more than the entire GDP of the United Arab Emirates.

Whilst Future50 members might not build brands worth these stratospheric figures, it is unarguable that building a strong brand is one of the primary ways that any business can strengthen its profitability.

So you shouldn’t be surprised to find me, an accountant, advocating that every business should devote considerable attention to getting its brand right.

We at Lovewell Blake have recently emerged from a project that has lasted more than a year, in which we have tried to understand the essence of our own brand. The result of that process has been a change in our visual identity, but more importantly, it is informing everything that we do, and how we do it.

The Oxford English Dictionary defines a brand as ‘an identifying trade mark’, but this is to misunderstand what it is all about. A brand is not a logo, or a name, or a visual identity. Think of these things as the clothes your business wears, which, like your own garments, reflect the person within.

And it is that personality which makes up your brand – the essence of what makes you, you. Once you understand that essential personality, you can ensure you present it in an appropriate and effective way. If you can communicate a brand which resonates with customers and potential customers, and which will engage them, you will build loyalty to your business, trust in what you are, and a sustainable future. It really is that important.

However, a brand is not something you can simply conjure up from nowhere. For a brand to be credible, it must be three things; true, relevant and differentiating.

The importance of truth in a brand is self-evident; for a brand to be trusted there has to be total honesty and transparency. Including brand attributes that do not accurately reflect what you really are about will destroy that trust. Put another way, if I dressed up as a plumber, it wouldn’t make me a plumber, and any attempt to convince the world that I was a plumber would be doomed to failure.

Relevance to your target audiences is also crucial. If your brand messages do not resonate with them, they will simply turn off. To build a brand that is relevant requires you to truly understand your audiences, what makes them tick, what will engage them, and what will turn them off.

Even if you find attributes which are both true and relevant, they still need to differentiate you. You want your brand to stand out, and that means offering something different from the pack. Sometimes this is about what you do, but more often it is about how you do it – your approach, your values, your ethos.

Customers engage with brands for both rational and emotional reasons. The former might include price, reliability, product quality and so on; the latter is far more powerful, and can include such things as prestige, ethics and trust. And the more your business is operating in a sector where there is little or no functional differentiation between your products and services and those of your competitors, the more important your brand becomes.

Measuring the value of your balance sheet is relatively easy when it comes to the bricks and mortar of your business. But that should only be part of the picture; building a strong brand is an essential part of building the value of your business, and as an accountant, that is why I believe you need to invest time and energy into building a really strong brand.


25/01/16

Safeguarding your most valuable asset

Want to know five practical steps that can protect your brand, but cost you less that £1.00? Kitty Rosser, Associate at Birketts LLP, tells you everything you need to know

 

As an IP specialist there is one conversation that I find myself having time and time again. It goes something like this:
SME: “Of course we recognise that our brand is one of the most valuable assets we have.”
Me: “That’s great. So what steps have you taken to protect it?”
SME: “Oh, we can’t afford brand protection."

 

Whilst I am hugely encouraged by the growing awareness of the value of brands amongst start ups and small businesses, I am also constantly surprised by the willingness of businesses to simply write off the possibility of protecting this most valuable of assets on the assumption that to do so will be too costly. In fact, as you'll see below, it doesn't have to be costly at all...

 

What you can do?

 

  • Knowing your brand

Undertaking a DIY brand audit will enable you to identify key brand assets and will probably take less than an hour of your time. Include your company name, brand and product names, straplines, logos, distinctive packaging or get up, domain names and hashtags and handles used on social media.
Cost: £0

 

  • Search and check

Undertaking clearance searches to check for the existence of identical/similar brands. There are a whole host of online resources that can be used for this including public trade mark and design registers, the companies register and domain name registries. Don’t overlook general internet searches and the use of functions such as Google Alerts to keep updated. The more searches you do and the earlier you do them (ideally whilst the brand is still at concept stage) the better.
Cost: £0

 

  • Using brands consistently

Create and follow your own brand guidelines to guard against inadvertently diluting your brand through inconsistent use or presentation of your trade marks.
Cost: £0

 

  • Identify your brand to others

Put others on notice of your brand rights. Using the ™ symbol lets third parties identify your brand and is an effective deterrent against infringement.
Cost: £0

 

  • Register and protect

Protect as much as is possible through registration. Depending upon your budget you should consider registering trade marks and designs to gain monopoly rights over your key brand assets. Domain name registrations are available from as little as £0.99 allowing businesses to adopt a defensive strategy and buy up a range of relevant domains.
Cost: from £0.99

 

Remember that in some cases, expert legal advice will, of course, be absolutely crucial. However, this does not mean that there is not also scope for a business to help itself. By adopting a proactive approach and taking a few practical steps, a business can significantly mitigate the risk of brand infringement and maximise the return it sees on a limited budget.

 


26/02/16

Branding in the digital age

The world of branding is changing in ways never seen before due to the relentless and accelerating march of technology. It is important for all businesses, whatever their size or sector, to stay on top of these trends argues Peter Schmidt-Hansen, Norwich Business School, UEA

 

Knowing me, knowing you

Technology allows brands to get to know us better. Every time we click a button on the computer we leave a trail of information about ourselves: our likes, our dislikes, our dreams and our desires. This not only allows brands to target us with better offers, but allows them to anticipate what we want before we have even consciously thought about it. And the reverse is also true. We can get to know anything and everything about brands because there is so much information out there from the brands, their customers and third parties such as bloggers. Great brands mine the rich seam of data they have on us to provide us with compelling personalised products and service.

 

There’s only one of me

In 1909 Henry Ford said “Any customer can have a car painted any colour that he wants so long as it is black”. He said that because he wanted to lower the cost of making cars and mass-production was the way to do this. And for much of the 20th century mass production was the way business worked – making mass products for the masses. The problem is we are all individuals with unique tastes. The good news is that technology allows brands to customise their offerings. Brands can now look at us individually as market segments of one. Computer aided design and computer integrated manufacture have slashed the cost of production. Emerging technologies like 3D printing will accelerate this trend. As I wrote this, it was coming up to Valentine’s Day and Marmite had a promotion that allowed customers to customise a jar of Marmite for their loved one, with his or her name printed on the label. Brands that enable such customisation win our hearts, our business and our loyalty.

 

It’s time to talk

Brands have long used advertising to tell us how good they are and why we should buy them. That still happens, but now we also have conversations with them. Platforms like Facebook allow us to talk with brands and for conversations to develop. Virtual brand communities spring up and we start to share stories and build content about the brand. This can be scary for brands because they feel they are losing control. But confident brands embrace it and lead the conversations.

 

Let’s get creative

Advertising’s dying now with social media, isn’t it? You wouldn’t think so if you saw the reaction to Super Bowl 50’s commercials. Advertising still has a big part to play, but only works if it stands out in what is a very crowded space. And that means being creative. Being funny. Being amazing. And this is where technology comes in. Computer graphics allow adverts to be made which amaze us and amuse us. The retailers’ 2015 Christmas adverts had their fair share of CGI – Sainsbury’s Mog the cat for example which has had 30 million Youtube views in two months. But you don’t have to go down that route to have a good ad. Aldi’s pastiche of John Lewis’s man in the moon advert was amusing, relatively simple to make and cost a fraction of the original. It’s had over 2 million views on Youtube.

 

These are just a few examples of the impact of technology. The branding landscape continues to develop and the brands that embrace the change are the ones that will thrive.

 

Peter Schmidt-Hansen runs UEA’s MSc in Brand Leadership.


07/04/16

Cyber-crime - how could it impact your business?

Jane Galvin, Managing Director, Corporate Banking at Barclays Eastern Region, discusses the growth in prominence of cyber-crime and how it could impact your business

 

The prominence of the internet has changed the way companies of all sizes conduct their business. It has opened the doors for many SME’s to streamline their processes and generate additional opportunities in areas which previously might have appeared out of reach. However, it is not without some downsides, a major one being the growth in prominence of cyber-crime.

Last summer a Government Security Breaches Survey found that nearly three-quarters (74 per cent) of small organisations reported a security breach in the last year. This is a real concern, as is the variety and scale of the scams which are currently in the offing.

In early 2016 reports emerged about some cases of conveyancing fraud. In these instances criminals were said to have hacked into emails sent between solicitors and clients. The fraudsters, posing as the solicitor, then sent emails with instructions to transfer the money from property transactions to a rogue account. The funds then disappeared.

This is obviously a terrible scenario for the borrowers in question. It also leaves solicitors, lenders and even intermediaries in a vulnerable position as nobody wants this to happen to their valued clients. After all, the aim of any professional or respectable lending institution is to best protect their clients and provide as seamless a transaction as possible.

As a lender it’s absolutely vital to have a fraud prevention strategy in place, plus a substantial, and active, fraud team alongside a raft of resources for individual and business borrowers. But, as an intermediary, what more could you be doing?

The first prudent step is to ensure your business is fully protected, including the data you have in your possession. The lengths at which cyber criminals go to shouldn’t be underestimated.

If any clients are set to transfer funds online it might be worth highlighting the need to ensure that they have adequate security measures installed on their personal computers.

Clients could also be made aware that changes to any payment details attached to the transaction should be treated with suspicion. For example, if they are sent an unencrypted email or asked for personal data by email, or anything that feels even remotely dubious, then they should pick up the phone and verify it directly with the party in question.

Such cases are still extremely rare and the vast majority of property deals do go through without a hitch. However, it’s evident that all links in this particular chain need to be as vigilant as possible to ensure that they as protected as possible. The modern mortgage market demands that the advice process incorporates a wider arch than ever. The inclusion of cyber security and anti-malware protection will not only help safeguard your business, but also provide an additional layer of protection for your clients and subsequently cement your long-term relationship with them.


27/10/16

Using Employee Incentives to further your business  

Giving an employee a stake in the business can motivate them in a truly unique way, aligning their interests with those of shareholders in a way that can’t be replicated with salary.  It can also be extremely tax efficient.

You may need, or want, to put the day to day control of your business in the hands of another.  Delegation is something that some business owners struggle with, at least initially, but the right person with a new perspective can make a business really flourish.

Salary and bonus may not be enough.  Many executives will also want a hand in the ownership of the business.  It’s understandable that if this desire isn’t met your executive might be tempted to look elsewhere.  Or perhaps you are recruiting and the talent you want to bring on board is already seeking this kind of incentive. They might be giving up a bigger package elsewhere and this is the trade off, or alternatively, they may already have employee share incentives in their current package and are looking to replicate the benefit.

Obstacles?

It’s natural to be concerned about sharing equity, but there shouldn’t be any obstacles you can’t overcome:

  • ·        If you don’t want to share the value you’ve worked hard to build you might consider a growth or hurdle share scheme to ring-fence a set value or prevent the employee sharing value until a particular target is met.
  • ·        You might not want the employee to have any voting rights or have the complication of other shareholders when you declare a dividend. These matters can be easily dealt with by amending the class rights attached to shares or by using an option based scheme.
  • ·        What if the employee leaves? Option based schemes can be designed to lapse and share based schemes can include automatic transfer provisions on the termination of employment with “good” and “bad” leaver mechanisms to determine price (if desired).
  • ·        A suitably worded set of company articles (or a shareholders agreement) can include provisions to prevent your employee from selling his shares to anyone without having giving you first choice.
  • ·        If you are concerned about being diluted you could use a phantom share scheme or share appreciation rights to mimic the incentive and performance of a real share scheme.

Tax efficiency

The great thing about sharing equity with employees is that it can be incredibly tax efficient which means that you can provide rewards for less.  There are many different types of scheme available which can be used to engage key executives or, your entire workforce, to deliver business plan objectives.  For more information on specific schemes including EMI option plans, growth and phantom schemes visit the Employee Incentives page on the Birketts website: www.birketts.co.uk/employee-incentives/ or please contact Lisa Hayward, Head of Employee Incentives on 01473 406316 or email lisa-hayward@birketts.co.uk