< Previous East Midlands Business Link www.eastmidlandsbusinesslink.co.uk RELOCATION AND INWARD INVESTMENT valuable in the transfer of knowledge and skills, and may help to stimulate innovation and growth in the local economy. Both relocation and inward investment can be used in varying combinations for an array of benefits, but perhaps the biggest advantage of the former comes in providing your business with access to new markets. By relocating to a new city, state or country, businesses can access new markets that were previously unavailable to them, which opens up possibilities for expansion of a customer base, increasing sales and otherwise growing business out from relative seclusion. Even on the micro level, a company that relocates from a small town to a large city will be better positioned to reach a much larger customer base and increase its revenue as a result. Relocation can also help your company work harder for you through access to better infrastructure, such as transportation links for streamlining logistics operations. But a more thoughtful mode of efficient productivity can be facilitated by inward investment. Expanding your organisation’s pool of income can be easily managed by utilising lower costs in other countries, such as for rent or taxes, thereby reducing operating expenses and further increasing profitability. But in balancing reduction of operation, manufacture or labour costs with responsible practice, it’s important to consider that costs are not being cut unnecessarily to take unfair advantage of another country’s economy, or worse its workers. Here’s where inward investment comes into its own alleviating the potential insensitivity of relocation for profit, and instead inviting companies in those areas to invest in your products and ideas. When responsibility and compassion are duly considered, inward investment can be an effective way for companies to attract and retain top talent, particularly in industries where there is a shortage of skilled workers. Casting out your recruitment net to people from different cultures than your own affords a broader choice of employees with more variety in skill set, true enough. But your business can also stand to benefit from greater diversity of experiences and ideas, provided you make the effort and space to listen to every individual you take on. You may never know where the next innovation will come from to take you to the next level of reach or income. Your competitive edge comes from being open to exploring every new angle for expansion, and a multitude of minds will provide a more detailed image of your potential than a single CEO, or even a board of operatives from the same culture and skillset. The encouragement of innovation from the inside out is more likely to stimulate © stock.adobe.com/Yurii Kibalnik 29-31.qxp_Layout 1 03/05/2023 09:28 Page 2www.eastmidlandsbusinesslink.co.uk East Midlands Business Link RELOCATION AND INWARD INVESTMENT the productivity of your workforce; this is the power of welcoming your employees to have a say in your business’s future, and allowing them an emotional stake in its development by including them in this way. You may even find opposing companies vying to compete with your company’s combined imaginative freedom, a deeply influential engine for innovation for the good of cultural development beyond mere acquisition of capital, and making your product more readily and affordably available to consumers. In this direct line from openness of mind through to the actioning of innovation and inspired competition, you can begin to see inward investment’s potential to bring new technologies, expertise and best practices not just to your business, but to the wider world. Locally, this benevolent way of working can help to develop local workforces and job opportunities, stimulating advancements in the surrounding culture’s technological progression, wealth and wellbeing. Such a beneficial transfer of knowledge and skills, which may also help to stimulate economic growth and improve living standards, works with your company to further support its development, facilitating more ambitious corporate goals. All of which lead inevitably back to the thing that makes the world go round. Through each of its tangential rewards, inward investment ultimately provides a company with access to additional capital, which can help expand operations, develop new products, or invest in research and development. It can be a perpetual virtuous cycle which builds on any business’s ability to grow and gain more competitive advantages over its rivals. Both relocation and inward investment can be important leaps to take when considering the growth or expansion of a business. The two facets often complement each other, with the potential to be used and combined differently depending on the goals of your enterprise. Your company might relocate its operations to another country and simultaneously invest in the local economy, creating jobs and providing training for local workers. By doing so, the company can benefit from lower costs and access to new markets, while also contributing to the development of the local economy. Or you may opt to attract foreign investment by offering incentives such as tax breaks, streamlined business regulations and access to a skilled workforce. Each one takes work, patience and the determination to stick to one’s goals, but with every effort put in, the possibilities for either opportunity are endless. © stock.adobe.com/Friends Stock 29-31.qxp_Layout 1 03/05/2023 09:28 Page 3 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk PUBLIC RELATIONS I have a confession, which I was reminded of whilst casually watching The Masters recently. I am seriously considering taking up golf. There, I’ve said it. That feels better now. It probably happens to most people in the end, so why fight it any longer? The thing is...nobody wants my money. Or so it seems. Just before the “P” word, Mrs S and I began golf lessons at a lovely little club up the road from us. We’re both pretty sporty and both a tad competitive so we wanted to learn the game properly with a pro. Then the P word hit and shortly after we moved 40 miles away. We made a note that we should start feasible BUT the person who handles these enquiries wasn’t in that day. They had my details though so...well, nothing. Not a text. Not a call. Zero follow up whatsoever...no pitch. This is over a year ago now and I was only reminded of this because the golf was on the telly. They should have been reminding me. The worst bit is they have a WHACKING great sign up on the main road as you drive by welcoming new member enquiries. Judging from my experience to date, that WELCOME will be lukewarm at best. Now, they could simply have failed to take my details down properly or the chap who took my call just lost the scrap of paper he scribbled on for his Greg Simpson, founder of Press for Attention PR, shares the importance of following up on leads. again locally because we were really starting to get into the swing of things, and the handy thing is that there is another golf club pretty much a 3- wood away from us. Or at least one of the holes is, the clubhouse is about a mile in the distance. I was reminded of our golfing goals during The Masters last month - mainly because I was admiring the landscaping not the golf. However, this then mentally nudged me that I’d dropped a note to my local golf club last year. In fact, I’d CALLED them because dropping a note via social media seemed nigh on impossible. Someone answered and we had a pleasant enough chat, confirming couples’ lessons should be 32-33.qxp_Layout 1 03/05/2023 09:29 Page 1www.eastmidlandsbusinesslink.co.uk East Midlands Business Link PUBLIC RELATIONS colleague. The problem is, whilst this appears to be a SALES problem, it is actually a MARKETING problem. I always refer to “Marketing and Sales” rather than the traditional vice-versa phrasing because marketing drives the latter. This sales team (it may well be the same mystery person) needs to have warm leads. Well, you couldn’t have got much warmer than me proactively calling to enquire out of the blue! Their problem is there appears to be no system when receiving enquiries. So it doesn’t matter what they do in terms of marketing outreach and spending a wedge of cash, because the leads will not be captured and/or not followed up on. There’s loads they COULD be doing to improve the inflow of leads like me that doesn’t require rocket-science levels of marketing magic. For instance, when they see a For Sale sign go up locally note it. When it turns to SOLD, why not give it a few months then pop a flyer through the door? If curry houses and removals firms can crack this surely a golf club can? However, please remember, you might have the smartest lead-gen campaign in the world with PR, Digital and Traditional Marketing all working away brilliantly, but if you can’t take an enquiry or follow up on one, you will be the one with bogey all over you. That’s putting it gently. A former business journalist, Greg Simpson is the author of The Small Business Guide to PR and has been recognised as one of the UK’s top 5 PR consultants, having set up Press for Attention PR in 2008. He has worked for FTSE 100 firms, charities and start-ups and conducted press conferences with Sir Richard Branson and James Caan. His background ensures a deep understanding of every facet of a successful PR campaign – from a journalist’s, client’s, and consultant’s perspective. 32-33.qxp_Layout 1 03/05/2023 09:29 Page 2 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk ENERGY AND ENVIRONMENTAL MANAGEMENT © stock.adobe.com/aryfahmed waste waste Managing 34-37.qxp_Layout 1 03/05/2023 09:32 Page 1www.eastmidlandsbusinesslink.co.uk East Midlands Business Link ENERGY AND ENVIRONMENTAL MANAGEMENT T he first step in reducing corporate waste is to conduct a waste audit. This involves identifying the types and quantities of waste that are generated by the corporation, as well as where and how they are generated. By doing this, corporations can identify areas where waste reduction efforts can be focused. For example, construction companies will naturally produce greater amounts of construction waste than office waste. Disposal requirements vary depending on the nature of the waste, so it is important to check the correct disposal methods on the government website. Furthermore, any waste disposal companies you instruct must be registered business waste carriers and authorised to dispose of that particular waste category. Business registration numbers can be checked on Gov.uk. Once a waste audit has been conducted, the corporation should use the findings to set targets and goals for waste reduction. In order to ensure that the targets are realistic, the SMART method for goal setting is often used. SMART stands for Specific, Measurable, Achievable, Relevant and Time Bound. This helps companies to set a series of targets that will help achieve wider goals, such as reducing waste by a percentage, or working towards zero waste. For example, a corporation might set a target of reducing its paper usage by 50% within a year. By setting targets and goals, corporations can measure their progress and identify areas where they need to focus their efforts. The time bound element of SMART is particularly important when discussing company trajectory, as this is what is going to keep the pressure on to make continuous and meaningful change. Longer term targets could incorporate checkpoints at regular intervals. For example, if the time frame given is a year, quarterly reviews could be held to ensure that the goal remains on track. Adjustments to the target can then be made to make the goal more realistic. The targets set should then be used to form the basis of the waste management plan. This is a comprehensive plan that outlines how a corporation will manage its waste. This plan should include strategies for waste reduction, reuse, and recycling. It should refer back to the initial audit to identify areas where waste can be reduced, such as packaging, office supplies, and energy usage. Three of the most commonly identified areas of corporate waste are packaging (from Corporate waste is a significant problem that affects not only the environment but also the economy. The UK government continues to ramp up the pressure for businesses to reduce waste, setting higher penalties for inappropriate corporate waste disposal last year. 37 Á 34-37.qxp_Layout 1 03/05/2023 09:32 Page 2 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk ENERGY AND ENVIRONMENTAL MANAGEMENT © stock.adobe.com/Chanchai 34-37.qxp_Layout 1 03/05/2023 09:32 Page 3www.eastmidlandsbusinesslink.co.uk East Midlands Business Link ENERGY AND ENVIRONMENTAL MANAGEMENT manufacturing products, or using them), insufficient recycling initiatives, and energy wastage. One of the biggest sources of corporate waste is packaging. Corporations can reduce packaging waste by using eco-friendly packaging materials, such as biodegradable or compostable materials. Buying refill packs of commonly used items such as soap, rather than products contained within dispensers are easy ways to reduce packaging. Investing in dispensers, then bulk purchasing soap refills will also be more cost effective for the business. Product manufacturers will be aware of the rising trend for reusable packaging. By redesigning single use packaging to slightly more expensive materials, such as bamboo or reinforced card, this increases the value of their product. Creating reusable packaging also allows brands to showcase their green credentials, which will help to retain the loyalty of ethically conscious customers. In 2023, a reduce, reuse, recycle programme is generally expected within any workplace. As a business, there is a government mandated responsibility to prevent, reuse, recycle or recover waste wherever possible. Preventing waste is the top priority, and for office-based businesses this often means trying to go paperless. This can be easily achieved by investing in cloud based systems such as Google Drive or SharePoint to save copies, rather than keeping physical files. This has the dual benefit of being less likely to be lost, increasing elements of security. Reducing the amount of stationery needing to be purchased offsets the costs of cloud based storage. Another way to reduce corporate waste is to use energy-efficient equipment. Switching from halogen to LED lights, and conducting an audit on existing HVAC (Heating, Ventilation, and Air Conditioning) systems will reduce energy usage and save money on utility bills. Conducting minor upgrades now will ensure higher efficiency for longer. Finally, corporations should promote a culture of sustainability within their organization. This can include educating employees on the importance of waste reduction and sustainability, as well as providing incentives for sustainable behaviour. This could also include training programs to ease employees into the new way of working. For example, paperless only works if everyone understands how to access the cloud. Providing some training on correct online storage methods will ease concerns over saving and retrieving information. By promoting a culture of sustainability, corporations can encourage their employees to become more environmentally conscious and to contribute to waste reduction efforts. Reducing corporate waste is increasingly being viewed as essential for assuring the long-term future of businesses. By conducting a waste audit, setting targets and goals, implementing a waste management plan, companies can easily identify areas of waste to be tackled. Understanding the most common areas of waste by researching industry trends will allow businesses to stay on top of their competitors by implementing rigorous green initiatives, pleasing customers along the way. Promoting a culture of sustainability is essential to waste management strategies, as all employees need to be invested in the initiative for the full benefits to be realised. 34-37.qxp_Layout 1 03/05/2023 09:32 Page 4 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk SECURITY © stock.adobe.com/TimmyTimTim security Physical 38-41.qxp_Layout 1 03/05/2023 09:34 Page 1www.eastmidlandsbusinesslink.co.uk East Midlands Business Link SECURITY T housands of businesses have to deal with many serious security threats which cause many business owners concern regarding protecting their business from unforeseen criminal activities and disasters that could hurt branding, revenue and productivity; therefore investing in a good framework of security is essential. According to The 2021 Commercial Victimisation Survey (CVS) it was estimated that 38% of business premises in the wholesale and retail sector in England and Wales have been a victim of crime between April 2020-March 2021, and the most common type of crime experienced was: theft (27%), assaults or threats (12%), and burglary (10%). Theft by a customer was the most prevalent type and most frequently experienced type of crime, with 11% of business premises experiencing this type of crime more than once a day. Retail premises (30%) were more likely to experience theft compared with wholesale premises (17%). Many business owners think to reduce crimes that security just means hiring security guards, which is one way to keep buildings safe, but it’s often not enough and there are more things which can be done, the key being to create a secure physical environment through different security measures, apart from the obvious protection of documentation, data and network security. One the most essential aspects for a business to consider is a coded lock, or padlock and key, or both on a business’s © stock.adobe.com/ivanko80 Desperate times make for desperate people, and many businesses are feeling the brunt of crime as rates of criminal damage on businesses rise. 40 Á 38-41.qxp_Layout 1 03/05/2023 09:34 Page 2Next >