HW is delighted to announce that the Haines Watts Young Entrepreneur of the Year 2011 competition was won by Tara Burn, owner of Combined Counties Fire and Surrey First Aid Training Limited.
Tara (28), from Frimley, Surrey, set up Combined Counties Fire and Surrey First Aid Training Limited in 2007 to deliver training nationwide in all aspects of the Health and Safety at Work Act.
Gary Heywood, a partner at HW High Wycombe office and Chairman of the judges, said, “It was extremely close because each candidate was of such a high calibre but Tara took the title for showing true entrepreneurial flair in spotting opportunities and turning them into viable businesses - and for her commitment and energy.”
Tara said, “It was fantastic to win. The day was an amazing experience, meeting successful entrepreneurs and other young aspiring business people and exchanging ideas. Winning topped it all off and I was so pleased that my plans for business growth and development were well received and that the judges shared my passion for the concepts I am working on for the future.”
The other finalists were: Enzo Bertolone – Glitterati Hair Limited, Duncan Carter – Compass Estate Agents, Peter Higgs – PGH Pest Control & Prevention and Paul Feakins – Antropy Consulting Limited. They all gave a ‘Dragon’s Den’ style presentation on their business and were asked searching questions by the judges.
The other judges from HW were partners Peter Wright from the Reading office and Jane Wills from the Slough office. Guest judge was Nigel Botterill, owner of ‘The Best Of’ online network and other franchise and internet-based businesses. As a serial entrepreneur, Nigel was able to share his experiences with the finalists after the judging and they all received a free one-year membership of his ‘Entrepreneurs’ Circle’.
The finalists are also offered a year of free mentoring with HW Partners, who are looking forward to supporting them with advice and ideas as they progress their businesses. The runners-up received cheques for £250 and Tara collected her additional winning £500 prize money.
As well as hearing from Nigel Botterill, HW was delighted to welcome back inspirational guest speaker, Stafford Carrington. Despite being only 32 years old Stafford is a self-made millionaire and has grown Impact Business Group through recognising good opportunities, hard graft, learning from mistakes and keeping it fun.
Jane Gregory of Haines Watts said of the event, “The Haines Watts Young Entrepreneur of the Year competition 2011 has been run against a difficult economic backdrop and yet we have heard from some amazing young entrepreneurs, who are succeeding in business despite this. HW applauds their determination, talent and hard work and wishes them all many congratulations.Their talent really shines through and they are an inspiration for all of us.”
We’re delighted to announce the finalists of the Haines Watts Young Entrepreneur of the Year 2011 competition. They are:
• Enzo Bertolone – Glitterati Hair Limited • Tara Burn – Combined Counties Fire and Surrey First Aid Training Limited • Duncan Carter – Compass Estate Agents • Paul Feakins – Antropy Consulting Limited • Peter Higgs – PGH Pest Control & Prevention
We wish them good luck for the Finals on Wednesday 9 November - we’re looking forward to it!
"Sometimes when you innovate, you make mistakes. It is best to admit them quickly, and get on with improving your other innovations."
"Innovation distinguishes between a leader and a follower."
"We don't get a chance to do that many things, and everyone should be really excellent. Because this is our life. Life is brief, and then you die, you know? And we've all chosen to do this with our lives. So it better be damn good. It better be worth it."
"I'm convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance."
How many times have you assumed that, because a prospect has said 'No' to your latest Special Offer or product launch, it means that they're not interested in ever doing business with you in the future? A 'no' is just a 'not at the moment thank you' - not a 'I will never, ever buy anything from you '.
To illustrate this point, consider 'X Factor' contestant Jade Richards who blew away the entire panel of judges last week with her rendition of Adele's 'Someone Like You'. Kelly Rowland and Louis Walsh were reduced to tears and Gary Barlow said he was sure that her audition would "change her life" forever.
Interestingly, Jade has auditioned for the 'X Factor' on five separate occasions and she was turned down every time ... until this time. Just imagine if Jade had taken those other four 'no's literally! Imagine if she'd never bothered to go back to the show, believing that she'd always get a 'No'. She would have missed her opportunity to wow the judges and potentially to leave her old life behind her! Luckily, Jade was made of tougher stuff and she tried again, and again, and again... and AGAIN! She finally got a YES (4 in fact!).
So next time someone says 'no' to your latest product or service and you're feeling rejected, just remember it doesn't necessarily mean they'll say no next time ... so don't stop asking! If you do you may just miss YOUR opportunity to achieve super success!
Brian Tracy's website has some very useful info - he's a well known, successful guru who helps entrepreneurs and business people achieve their goals and aspirations. One article highlights the fact that you can't always get better results by working harder to apply what you currently know. If you want to earn more in the future, you need to learn and apply new methods and techniques consistently.
Committing to your on-going learning and development is an essential part of becoming successful. Reading is an easy and beneficial way to learn as is surrounding yourself with the right people - learning from people who have been there and done it. Attending seminars and courses to expand your knowledge can definitely help.
So are you making time for learning - and if so, are you actively implementing what you learn?
A recent article on The Guardian website reported that, according to findings by Merrill Lynch and Capgemini, there are more rich people now (defined as people who have more than £620,000 of free cash) than there were before the recession.
The thing is, the UK is lagging behind in the affluence stakes because it hasn't quite returned to pre-crisis levels of wealth. I don't know about you but I don't like being on the losing team!
There has been a 1.4% rise in the number of rich people in Britain, compared with a 7.2% rise in Germany, 8.3% in the US and a 3.4% rise in France ... so it seems we've some work to do to!
As a young entrepreneur, you've got something to aim for! Don't let the tough economic conditions stop you - be innovative and determined!
Well, I guess the answer is you can become an entrepreneur at any age but the sooner you start, the better in many ways ... what would help is some support, right?
A year ago HW, Chartered Accountants, published the results of their survey of the owner-managed business sector in the UK (‘Happiness & Heartbreak: The Life of a business owner’). It painted a disturbing picture of small and medium-sized enterprises (SMEs), desperate for more help during the worst economic climate for decades.
Haines Watts and the Business Magazine held a roundtable to discuss the survey’s findings, where it was agreed that a great deal more support could, and should be offered, both by the Government and financial institutions.
The survey revealed that just 13% of business owner respondents were aged under 40, which prompted many to question where the UK’s future business leaders will come from, if young talent is not supported and encouraged as a matter of urgency.
Haines Watts, which works with young entrepreneurs on a daily basis in the course of its business, launched the Young Entrepreneur of the Year competition (HWYE) for the Thames Valley last year, to identify and encourage these rare young people who have defied the economic conditions to start their own business. Since then, the Government has launched some initiatives to help entrepreneurs but a great deal more does still need to be done.
Haines Watts’ Partners continue to mentor last year’s Young Entrepreneur competition regional winners and support them with their business ventures and they are all going from strength to strength.
However, as spending cuts dig deeper and the economy presents even greater challenges, many young entrepreneurs may fall by the wayside. The high unemployment rate, with so many people trying to get onto the career ladder, the barriers presented in getting onto university courses and our present ‘benefits’ culture all conspire to make it extremely difficult.
Next month, Haines Watts and the Business Magazine will hold another roundtable discussion to consider how the UK should be harnessing entrepreneurial spirit and supporting business growth. A variety of entrepreneurs will join in the discussion.
We look forward to sharing the results. In the meantime, if you have any questions for our panel, please email us at:
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
And remember ... the Haines Watts Young Entrepreneur (HWYE) competition 2011 for the Thames Valley is now well underway and the deadline for entries is 18 September.
For further information about the Haines Watts Thames Valley Young Entrepreneur Award 2011, or to register, please visit www.hwye.co.uk or contact Mary Ferry on 01483 426577, email
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Follow us on Twitter @HWYE2011 or Facebook – search for Haines Watts HWYE.
Here's the lowdown on the Haines Watts Young Entrepreneur of the Year awards - a bit of a summary!
The competition is free to enter, is open to anyone who is 30 or under and who runs any type of business in the Thames Valley region.
If this doesn’t apply to you, you might know someone – a friend, son or daughter, niece or nephew – who would benefit from the opportunity.
Please pass on the good news and encourage people you know to join in...
The competition is running in five Thames Valley areas located around our offices and broadly includes Surrey, Hampshire, Berkshire, Buckinghamshire and Oxfordshire.
Which means there are several opportunities to be a finalist, with five local winners and one overall regional winner.
So let’s start by telling you why you – or they - might want to join in ...
What everyone gets ...
• You’ll become a member of Nigel Botterill’s Entrepreneur’s Circle for a minimum of two months – that’s available to ALL ENTRANTS – and the winners will get FREE MEMBERSHIP for a whole year. This is an amazing business and marketing coaching service run by one of the UK’s leading Serial Entrepreneurs.
• Personal growth – whether or not you are one of our finalists or a winner, the simple process of putting together a business case to present to others and persuade them that you are a worthy entrant will definitely help you to grow your business skills.
What the winners get ...
• A year’s free mentoring from a hugely experienced Partner from one of HW’s regional offices in your area. Everything from helping you to make a case to your bank for money to grow your business, to how to control your daily costs.
• Recognition – doing what you have at such a young age is a really worthy achievement, and the press coverage we received for our winners last year was outstanding. This is a great way to publicise your business and your potential.
• Prize money – all our local winners will each receive a cheque for £250 and the overall regional winner will receive a further £500 – that’s £750 in all.
Is this really for me???
Now, it’s possible that you may be wondering if it is worth the bother for you - or someone you know - to enter the competition. So here are the answers to some key questions ...
Q's and A's
It’s all a lot of bother and I probably won’t win anyway?
1. You apply online and we don’t ask you for huge amounts of information, so it is definitely not a lot of bother.
2. In terms of winning, the competition runs in five local areas in the Thames Valley regions, which means you have a much higher chance of becoming selected as a finalist for one of them.
3. Just think of the personal growth you’ll achieve simply by going through the process of applying – having to set your case out and persuade others just how good you are. It’s very focussing and you will get a lot out of it whether you are selected or not. And anyway, did you really go into business with a defeatist attitude?
The prize money isn’t worth that much?
OK , so £250 - or even £750 – isn’t going to change your life but this isn’t just about the money. Winning means your passion and purpose will have been recognised by some hugely experienced business people who only want to help you succeed. The cash is a bonus.
I’m probably too small – or too big! – or just not the sort of person/ business you are looking for...?
There are simply no set criteria to who we are looking for. Last year’s winner happened to be a very established business run by a young guy with amazing vision. But he was up against new starts and part time businesses and it could easily have gone either way. If you are 30 or under and run any kind of business – you’re in!
I’ve not heard of Haines Watts – why are they interested in young businesses?
The Haines Watts Group – and HW Chartered Accountants – are a very large national firm and are in the top 20 accountants across the UK. In the Thames Valley we have offices in all the key towns. Our Partners are hugely experienced in helping businesses just like yours and simply want to encourage young business people in a difficult market place.
I’ve never heard of Nigel Botterill or his Entrepreneur’s Circle... how can he help me?
Nigel is one of the UK’s leading serial entrepreneurs. His ‘BestOf’ franchise – a local online directory located in 500 towns around the UK - was the fastest growing UK franchise EVER! He now runs five million plus businesses and one of these is Entrepreneur’s Circle.’
Entrepreneur’s Circle is an online and face-to-face network (events are held throughout the UK every month; there’s email advice, webinars, newsletters, phone ins and loads more) and is a major hotbed of ideas and motivation for entrepreneurs of all ages and experience. Nigel is wall-to-wall energy and he is utterly committed to helping smaller businesses grow. You ought to enter this competition – if only for the benefit of two months of his FREE advice.Take a look at www.entrepreneurs-circle.co.uk and decide for yourself!
And finally – how do you enter –– that’s easy. .. just go to www.hwye.co.uk – and fill in the online entry form. You have until 18th September to get your application in. And, as we said at the beginning – this may not be for you – but is there someone else you know???
Don’t forget, pass on the good news ...
We are really looking forward to hearing from you.
Was the main beneficiary of this year's Budget a hermit who doesn't drink high-strength beer but smokes small cigars and is considering becoming an apprentice with a charitable organisation?
Stephen Edwards and David Smy, Partners from HW, Chartered Accountants, met with around 100 business people from the Thames Valley region to consider what impact this Budget would have on their livelihoods.
David Smy warned that it was becoming ever more expensive for employers to take on staff, with such changes as higher National Insurance rates from April. This is despite the Government’s assurances that it is trying to encourage private firms to recruit, to fuel economic growth in the UK.
David also highlighted the questions remaining for employers over the touted National Insurance/income tax merger, with the Chancellor announcing plans for a long-term consultation.
Another area flagged up was that of the Childcare Voucher Scheme. David advised employers of higher-rate taxpayers who wanted to take advantage of the schemes’ tax and NIC free exemptions before they change, to join before 5th April.
Stephen Edwards said that increasing fuel costs were another factor when trying to save money and those business people who commute long distances should check whether it is still cheaper to use their own car or pay income tax on a company car.
The Chancellor has confirmed that the ‘disguised remuneration’ legislation first announced in December 2010 will be introduced from April 2011. Executives will no longer be allowed to be paid in tax-free, life-time loans that are never repaid.
On a positive note, the Government has made much of ‘enterprise’ and, generally, Haines Watts recognised that the creation of some 21 new Enterprise Zones will benefit those whose businesses are in the right location (so far the nearest location announced is London, with most being in the Midlands and North). Meanwhile, the Enterprise Investment Scheme (EIS) is being made more generous and may help some businesses with the right investment opportunity.
For SMEs, R&D tax credit rates have been increased and other proposed changes should enable more businesses to benefit from the increases. Stephen added that a one-year business rate holiday, due to end this October, has been extended by a year so that small businesses with a rateable value of less than £6000 will not pay business rates for that period – a boost particularly for retail businesses.
He also highlighted the fact that Entrepreneur’s Relief will increase to £10 million from 6 April 2011, which will benefit certain people who sell companies or stakes in their own firms for a large sum.
As announced previously, corporation tax rate charged to small firms will drop to 20% next month but there are no future tax cuts offered, compared to the more favourable 5% drop in rates for bigger firms over the next four years, bringing their rate down to 23%.
The Chancellor said that his was a “Budget for Growth, Enterprise and Aspiration”, but have we heard it all before? The virtually unanimous opinion from Haines Watts’ guests was that the 2011 Budget didn’t support business despite the fact that it will have to be business that revives Britain’s ailing fortunes.
What do you think? Will this Budget help you with your business needs?
With the Budget just around the corner, we want to know what you think of the support available to young entrepreneurs today.
Do you know what is available in terms of Government funds and grants?
Do you know where to look for support?
Do you think the Government is doing enough?
What would you like to see the Government do to help you and your business?
And, lastly, if it's down to you to make your business a success, what do you find helps - a particular character trait, contacts ... we want to hear from you.
We're enjoying a fascinating book called "Tribes" by Seth Godin, a best-selling author and one of the top 5 internet-based business celebs in the world according to Forbes, which has relevance to all entrepreneurs.
Godin believes that we're at a pivotal moment in time right now when, for the first time ever, everyone has the opportunity to start a movement by bringing together a tribe of like-minded people to do amazing things.
As entrepreneurs we're all born tribe leaders but, what's frustrating is that many people miss or ignore their opportunity to lead, because they can't see how they could improve things or are too afraid to question whether their compliance with 'the way it is' is doing them or their business/family/community/market any good. Chances are, you might benefit from a good shake up and a new vision!
Godin feels that if you have passion for what you do, there is a whole tribe of customers, investors, strategic partners, employees, supporters out there ... just waiting for you to plug them into each other and lead them into your vision!
What is your vision?
Where do you see yourself leading your tribe to in the months and years to come?
What change are YOU going to make in the world?
And perhaps most importantly, what are you doing right now to work towards making it happen?
From 1 April 2011 HM Revenue & Customs will expect company accounts to be submitted electronically and to have key data within them “tagged”.
HMRC will require all companies to file accounts and Company Tax Returns online in iXBRL format (inline eXtensible Business Reporting Language).
HMRC expects this move to provide benefits in the preparation, analysis and communication of business and financial data. To achieve this, certain elements of the tax computation and the accounts ‘documents’ will need to be tagged using a series of ‘taxonomies’, which labels entries in the document so that the data can be understood by computer systems.
This may be a worry in the longer term since, after a couple of years, HMRC may have gathered enough data to use its analytical engine to identify if your figures do not match the rest and could result in you being picked for an enquiry.
In the shorter term, these measures could increase either your workload or costs, since accounts can no longer merely be prepared using word processing software or spreadsheets and then submitted online in a pdf format. A new iXBRL system has to be used so that the “tags” can be automatically read.
HM Revenue & Customs is providing simplified software to help with this process but they openly admit it can be extremely slow and cumbersome to use, let alone only being designed for the simplest of situations.
There will also be a requirement to pay any Corporation Tax electronically, although in reality this only means you cannot send them a cheque directly. Paying a cheque in at your bank etc will result in HMRC receiving the funds from them electronically and so enable you to meet this requirement without having to worry about internet security. Other electronic payment methods include BACS, Direct Debit, CHAPS, debit and credit card payment.
These measures will avoid paperwork and payments being lost. They will also enable HMRC to dramatically cut its staffing whilst still giving it the ability to identify those cases that it considers need closer scrutiny. It has been indicated that HMRC will not just act upon the reports that will come from the computer in due course and that a person will have a chance to speak out before an enquiry is launched.
However, will the staff be suitably experienced to handle this at the time?
The whole issue of tighter controls and other forms of 'red tape' was clearly a major bug bear for SMEs at the Haines Watts roundtable event last summer. With David Cameron’s recent ‘enterprise’ pledge, perhaps the subject should provide the focus for another roundtable, as firms struggle to make headway after the recession and with the cuts taking place?
They say 'good workmen never blame their tools' but 'credit where credit's due!'...
Did you know that of 4.7million businesses in the UK, 99.3% are small firms with fewer than 50 employees and only O.6% are medium firms with 50 to 249 employees?
Naturally, business owners have to be motivated by income but the way that they run their businesses also helps the UK in many ways. Two examples are that firstly, most business owners feel a keen sense of responsibility towards their staff and their families. Secondly, their autonomy over decision making and the skills needed to run a business represent a store of knowledge that has real value to the economy.
Why then has so little been done to assist business owners in these difficult economic times? Government initiatives have failed to help the vast majority of owner-managed businesses and some, like the temporary reduction in VAT, just made more work for many. Government grants are hard to access and information about them is difficult to find, while credit has been much tighter. Despite all this and the lack of real effective assistance, the owner-managed sector will pull us out of this economic mess because it always does.
Isn't it high time owner-managed businesses were given more support?
We're frantically busy preparing for the launch tomorrow of the HW Young Entrepreneur Award 2011.
If you're from the Thames Valley*, are you going to enter and tell us what your business is all about and the qualities that you have that make you stand out from the crowd?
Small businesses will be at the heart of the recovery and young people will be our future business leaders. If you are a young entrepreneur with determination and passion to succeed in today's marketplace, Haines Watts is running this competition to recognise and support you and your business.
We are waiting to hear from you - entries received from 1st March.
From speaking to young entrepreneurs, here are their top 10 challenges currently
1. Starting from scratch: identifying who you need help from and making appointments to meet them. 2. Getting funding – from start-up to working capital. 3. How to build credibility with little or no trading history. 4. Understanding financial matters like cashflow, P& L Balance Sheet etc. 5. Mastering time management – never enough time to do everything! 6. Sacrificing social life, sometimes even holidays or time off. 7. Feeling isolated – sometimes having to deal with jealous friends/peers. 8. The need to learn new things fast, for example, using software. 9. Understanding the importance of marketing your business properly; understanding and engaging with your customers. 10. The need to continually check and differentiate yourself from competitors.
HW Chartered Accountants launches the Haines Watts Thames Valley Young Entrepreneur Award competition 2011 on 1st March.
For further information about the Haines Watts Thames Valley Young Entrepreneur Award 2011 please visit www.hwye.co.uk
Young entrepreneurs from the Thames Valley continue to prove that it is possible to succeed, even in this tough economic climate, with dedication, strategic planning and innovation.
As part of their prizes, local finalists in last year’s Haines Watts Young Entrepreneur Competition won year-long mentoring sessions with Partners from Haines Watts. The mentoring sessions are underway and the sheer energy and focus shown by our finalists is truly inspirational. They are all under the age of 30 and they are up against some of the toughest economic conditions in living memory - yet they show the utter determination and commitment that keeps their businesses alive and flourishing.
Top 10 issues faced by young entrepreneurs in 2011
1. Starting from scratch: identifying who you need help from and making appointments to meet them. 2. Getting funding – from start-up to working capital. 3. How to build credibility with little or no trading history. 4. Understanding financial matters like cashflow, P& L Balance Sheet etc. 5. Mastering time management – never enough time to do everything! 6. Sacrificing social life, sometimes even holidays or time off. 7. Feeling isolated – sometimes having to deal with jealous friends/peers. 8. The need to learn new things fast, for example, using software. 9. Understanding the importance of marketing your business properly; understanding and engaging with your customers. 10. The need to continually check and differentiate yourself from competitors.
HW Chartered Accountants launches the Haines Watts Thames Valley Young Entrepreneur Award competition 2011 on 1st March!
For further information about the Haines Watts Thames Valley Young Entrepreneur Award 2011 please visit www.hwye.co.uk
For further information about Haines Watts visit www.hwca.com
Sheer determination and commitment are what businesses need currently to see them through the UK’s recovery from recession and Thomas Claridge, Tim Wright and Rolf Groenewold, co-owners of Oxford-based business, KeyAGENT Ltd, have shown plenty of it. Thomas represented the company to win the Haines Watts Young Entrepreneur Award 2010 competition.
Chartered Accountants Haines Watts are delighted to announce that James Middleton, owner of The Cake Kit Company, has won the local finals of the Haines Watts Young Entrepreneur Award 2010 competition, to represent the Reading area in the finals.
Chartered Accountants Haines Watts are delighted to announce that Thomas Claridge, co-owner of KeyAGENT Ltd, has won the local finals of the Haines Watts Young Entrepreneur Award 2010 competition, to represent the Oxford area in the finals.
Chartered Accountants Haines Watts are delighted to announce that Angela Waweru, owner of Jewel Queens, has won the local finals of the Haines Watts Young Entrepreneur Award 2010 competition, to represent the Slough area in the finals.
Chartered Accountants Haines Watts are delighted to announce that Carly Ward, owner of the Young Entrepreneur Society, has won the local finals of the Haines Watts Young Entrepreneur Award 2010 competition, to represent the High Wycombe area in the finals.
Chartered Accountants Haines Watts are delighted to announce that Neil Farrell, owner of Farrell Associates, has won the local finals of the Haines Watts Young Entrepreneur Award 2010 competition, to represent the Farnborough/Basingstoke area in the finals.
