< PreviousHow do you want to leave people feeling after they have interacted with you? Over the years I have encountered a wide range of personality types in attendance at my events and whilst variety is the spice of life and differentiation is an important aspect of business, there are still a certain set of standard rules and etiquette to be considered when in conversation, because after all conversation really is an art and for some, takes years of practise to perfect. Halloween is now behind us and it’s a downhill slippery slope towards everything festive, however before we arrive at the illuminated cheery season of goodwill, I’d like to transport us back to the spooky season for just a short time, whilst I share with you seven types of people who scare me when it comes to my industry of networking (and I’m sure you have crossed paths with at least one or two)! 1 The Hare (not the tortoise) - Those who treat networking like a race to meet as many people as possible and collect the most amount of business cards, but never really get to know anyone in much depth - networking is about relationship building and is not a competition. 2 The Space Invader - Those who stand too close to you and uncomfortably invade your personal space in conversation, making you feel irritated and distracted. Even worse is when you move to back away from them and they follow you - don’t be a space invader! 3 The Nosy Parker - Those who try to get to know you (perfectly acceptable) but ask intrusive questions with judgy undertones. This again can cause uncomfortable moments in conversation that can go on to create an atmosphere or awkward pauses and silences. Fiona Duncan-Steer, founder of RSViP Business Networking Agency, reflects on her experience in the networking industry to share the different personality types to avoid invoking at events. East Midlands Business Link www.eastmidlandsbusinesslink.co.uk NETWORKING The 7 personality types to avoid at networking events 4 The Mood Hoover - Those who sap all of your energy and smother you with their negative vibes. Nobody wants to be around that person, so even if you are going through a challenging time, there is a time and a place to offload and networking events are not to be used as therapy sessions. Find a comfortable balance in conversation and set boundaries 5 The Tyre Kicker - Those who simply give it the big ‘I am’ and are complete time wasters. These types of people tend to like the sound of their own voice, are not necessarily great listeners and can show themselves to be disingenuous. Remember that people will buy from you if they like you and believe you to be honest, respectful and have integrity. 6 The Interrogator - It is important to find a natural balance between asking great questions and listening to the responses, without coming across as interviewing or even worse - interrogating. We have all been in that situation where we feel slightly violated by a strong personality type who flies in like a whirlwind and asks a million questions in succession without really listening to any of our responses. 7 The Closed Listener - As Stephen Covey said: “Most people do not listen with the intent to understand, they listen with the intent to reply.” Let’s face it we all have our off days when we are distracted by our own thoughts, however the best conversationalists are those who listen with intent and form their next question or statement around the speaker’s previous response - a trick of some of the best interviewers, so listen like an interviewer and see how naturally the conversation flows. Ask yourself the question: How do you want to leave people feeling after they have interacted with you? Then ensure that you make every effort to make others feel that very same way. 30-31.qxp_Layout 1 30/11/2022 09:47 Page 1Fiona Duncan-Steer, RSViP www.rsvipnetwork.co.uk www.fionaduncansteer.com 30-31.qxp_Layout 1 30/11/2022 09:47 Page 2 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk INVOICE AND FINANCE SOLUTIONS I t ought to be a simple process. You provide a service and the customer pays. This is the way it’s been for thousands of years of human civilisation, and yet we find ourselves today in an era of late payments due in no small parts to invoices. If we still lived in a world of pay now for what you want, then the region might not be facing a cash flow crisis, but much of today’s economy is speculative. It exists solely on the premise that invoices will be paid in full and on time, which anyone in business knows is no guarantee. For thousands of businesses, this seemingly simple transaction is scuppered by late payments. According to research undertaken by Xero, the cloud-based accounting software platform for SMEs, nearly fifty-two per cent of all invoices issued by small businesses are paid late. Perhaps unsurprisingly given the economic uncertainty of late, fifty-one per cent of small business owners said the problem of overdue payments has gotten worse over the past three years. Figures from the Federation of Small Businesses, meanwhile, found that late payments cost the economy £2.5 billion every year. Late payments have a cumulative effect and not only impact the company that needs to be paid, but its suppliers. If a company is unable to bring in enough capital, it can’t pay its own invoices, creating a ripple effect right along the supply chain. With the furlough scheme now firmly behind us, and companies looking to reduce overheads amid a worsening energy crisis, late invoices can spell the end for many an SME, not to mention the mental health toll it can wreak on company bosses. As with almost every pitfall a business can find themselves in, there is help available. Invoice financing is the simplest means of releasing cash tied up in a business’s outstanding invoice. In short, it sees a business sell its invoices to a third party who will advance some of the funds it is worth up front for a cut. Thousands of businesses rely on this kind of financing Overdue Late payments plague the business sector and our region is not immune to it. With the country sliding into a recession, companies may look to ways to offset the risk and uncertainty of their invoices and maintain a steady cash flow. 34 Á 32-35.qxp_Layout 1 30/11/2022 09:48 Page 1www.eastmidlandsbusinesslink.co.uk East Midlands Business Link INVOICE AND FINANCE SOLUTIONS © stock.adobe.com/Egor 32-35.qxp_Layout 1 30/11/2022 09:48 Page 2 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk INVOICE AND FINANCE SOLUTIONS to maintain a healthy cash position, whilst others use it to take back control of cashflow issues stemming from late and unpaid invoices. Perhaps the biggest draw is that businesses can be paid most of an invoice within forty-eight hours instead of the typical thirty-to-ninety-day period. As with all forms of financing, however, there are things to consider – namely the kind of invoice finance a company requires. From invoice discounting to spot factor, there’s different options, so finding the right one is key. It’s also important to look at individual providers themselves, as some will insist on managing credit control themselves which could, understandably, alienate some customers. Combined with small business loans, invoice financing can have a powerful effect and literally keep businesses trading. Another problem is that, with the fact the country is in a recession, banks and other firms may not be as willing to lend money or may want to know more about the current cash flow situation to ensure their investment is not at risk. That is sure to mean stricter terms, worse terms, and a harder time securing said finance. Invoice financing does tend to be safer for the lender than traditional finance, but there is still an element of risk involved. Regions across the UK will also boast their own funding initiatives, designed to bolster the local economy and sure up businesses in the area. In our region, there’s the Midlands Engine Investment Fund (MEIF). Supported by the European Regional Development Fund, it provides commercially focussed finance through small business loans, debt finance, proof of concept and equity finance funds. MEIF is a collaboration between the 32-35.qxp_Layout 1 30/11/2022 09:48 Page 3 Many solicitors act on the sale of a business. In some cases, they will treat all business sales in the same way, regardless of the nature of the business. This is a very dangerous approach, because understanding the particular risks and issues affecting the specific business you are selling is critical to giving accurate and proportionate risk advice. At Sills & Betteridge, our Corporate solicitors take the time to get to know both a business and its owners, in order to give detailed and client-specific advice. We have particular experience and expertise in respect of financial services businesses – whether it be general financial advisors, pensions advisors, mortgage brokers or similar. Partner Euan McLaughlin recently acted for the shareholders of HFL Financial Advisers Limited, Nottingham, in their multi- million pound sale to a large financial advisory group. Selling shareholder Nic Lewis commented: “Having built HFL to a point where we were considering a sale, it was important for us to have a solicitor who not only understood the legal process, but also understood the unique challenges of selling a financial services business. From our first meeting with Euan, it was clear that we were in safe and experienced hands. Our experience of working with Euan and his colleagues at Sills & Betteridge was that they have a true understanding of the legal issues relating to a corporate transaction. We would expect nothing less of any law firm of a similar stature to Sills. What I think sets Euan and Sills apart is the ability to apply this knowledge with a sense of pragmatism and commercial common-sense to bring a negotiation to a successful conclusion.” To find out more, visit www.sillslegal.co.uk, email info@sillslegal.co.uk, call 01159 411 469, or visit 4 George St, Hockley, Nottingham, NG1 3BE. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link INVOICE AND FINANCE SOLUTIONS Euan McLaughlin British Business Bank and ten Local Enterprise Partnerships in the West Midlands and East and Southeast Midlands and provides over £250 million of investment to boost SME growth. In recent terms, growing businesses in the Midlands secured £110 million in venture capital investment in the third quarter of the year, according to KPMG UK’s latest Venture Pulse report. A total of 31 innovative companies, 17 in the West Midlands and 14 in the East Midlands, received investment in the third quarter of the year, highlighting that the UK scaleup ecosystem continues to appeal to investors but they are increasingly cautious about how much they are investing. This caution is unlikely to go away after the new budget, and that may continue until the next general election, or even after. © stock.adobe.com/Andrey Popov 32-35.qxp_Layout 1 30/11/2022 09:48 Page 4 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk PUBLIC RELATIONS Admit it, we’ve all been there. The last knockings of the chocolate box over Christmas (anytime in December in my house) are being prodded listlessly as you attempt to “force” down just one more sweet treat. The Purple one has vanished, the Green Triangle has found its inner Bermuda and disappeared. Then lo, underneath all the detritus that litters the bottom of the tin, a few stragglers strive to break the surface, their little shiny wrappers glinting in the sunlight as they make a break for it. It feels tropical, you can almost smell the…oh no…the Coconut! However, what’s this? It appears that for many* hope is kindled…they’ve only gone and BANNED the Bounty one! leveraged the Love/Hate angle either. Last year they announced a Bounty Return Scheme allowing a swap with Maltesers. Genius! What is even cleverer is that they have caused more outrage by limiting the availability. People are now annoyed about not being able to access the Bounty-free tins if they don’t live in the chosen areas. The scarcity message is so clever. Fans will flock and even non-fans will have a little look when comparing which choc tubs to buy. So they are now moaning on Twitter and fuelling the PR fire beautifully. “Wispa” it…but my money is on the Bounty-free tins being far more widely available due to consumer demand pretty sharpish (EC column deadlines dictate Bounty - the taste of PRadise Greg Simpson, founder of Press for Attention PR, recaps some PR magic. This SHOCK omission made headlines for days with global media outlets featuring the story with huge enthusiasm and fun, knowing full well that they were giving invaluable column inches, clicks and airtime to a superbrand with enough marketing budgets to PAY for this. Why? Simples…engagement. Let’s recap what happened here. The maker of Celebrations chocolates let it be known that they would be removing Bounty bars from SOME tubs after finding 40% of people HATE the coconut-flavoured treat. They confirmed that they will supply a limited run of “No Bounty” tubs which would be available at 40 Tesco stores in the run-up to Christmas. This isn’t the first time these guys have 36-37.qxp_Layout 1 30/11/2022 09:49 Page 1www.eastmidlandsbusinesslink.co.uk East Midlands Business Link PUBLIC RELATIONS that I cannot say for sure). That will give them ANOTHER great PR opportunity. Hats off to the team behind this! Even if they don’t roll this out, Bounty WILL be available to pretty much everyone across the UK (whether they like it or not!). Meanwhile, Piers Morgan (no stranger to me after I appeared on the same bill as him a year or so ago) labelled it as a “diabolical decision” to his 8 million followers, whilst Lorraine Kelly expressed her indignation to her huge national TV following. PR GOLD! The secret sauce here is being talked about. That is basically what PR is. If you are planning something like this, you have to take yourself OUT of the conversation as a marketer and metaphorically stand on the edge of the group. Ask yourself; “Will this get our audience talking about us?” - in a good way that is. That is what journalists think all the time too. “Will this story inform, entertain, stir, move, annoy, enlighten” our readers/viewers? In basic terms, will this raise eyebrows and sell copies and clicks? Christmas is coming and only time will tell whether there will be a mutiny on the Bounty. Either way, PR celebrations are in order! *This is the key, not EVERYONE has to agree. In fact, ideally, this is what you want. You want a fight. Or as the media will term it, ‘engagement’. 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. 36-37.qxp_Layout 1 30/11/2022 09:49 Page 2 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk ENGINEERING T his year has brought unique challenges to the engineering sector. A severe skills shortage, and a cost-of-living crisis has compounded vast reaching supply chain issues caused by the war in Ukraine. This has left firms desperately scrambling to fulfil orders. To survive this turbulent climate, the industry needs to address some deep-rooted issues that have plagued the engineering sector since its inception. Thankfully, some initiatives are beginning to take shape, such as outreach programmes and government funding. Yet, the entire industry needs to embrace them. So, what can engineering firms and industry leaders do to help improve the outlook for the sector? The UK engineering and manufacturing industry comprises a huge proportion of the working population – around 5 million people and 18% of the entire UK workforce. Despite this huge number, it is not enough to meet demand. The Institution of Engineering and Technology estimates that there is an average of 10 unfilled roles per business. A separate survey found that 96% of engineering firms are affected by skilled labour shortages, and 75% of independent contractors have had issues recruiting skilled workers. One reason for this massive shortage is the ongoing impact of Brexit. The UK has long leant on skilled European engineers, hailing from countries such as France, Poland, Romania, and Switzerland. When Brexit came into force, skilled European workers left the UK en masse, leaving behind millions of open positions. Whilst one of the main goals of Brexit was to encourage Adapting to new times Adapting to new times The world is changing and our region needs to become more self-sufficient and independent. With the engineer sector suffering from a heavy skills shortage, we take a look at what the sector is doing – and what it can do – to draw in more talent. The world is changing and our region needs to become more self-sufficient and independent. With the engineer sector suffering from a heavy skills shortage, we take a look at what the sector is doing – and what it can do – to draw in more talent. 38-41.qxp_Layout 1 30/11/2022 09:51 Page 1www.eastmidlandsbusinesslink.co.uk East Midlands Business Link ENGINEERING © stock.adobe.com/Me studio companies to invest in domestic workforce, the chronic lack of investment in recent years means that there is not a ready UK workforce to take the place of the EU workers. In fact, the chief executive of the Civil Engineering Contractors Association (CECA) confirmed that they are working with international governments to encourage “managed migration” to fill existing skills gaps. In short, the issue is so severe that there is no choice but to bring in overseas personnel. However, the government maintains that engineering firms should seek to prioritise UK engineers over international staff wherever possible. Yet, with over half of firms experiencing difficulties recruiting the right talent levels, it begs the question of why there is such a lack of skilled engineers domestically, and what can be done to address this. Firstly, there is an extreme lack of diversity across the sector. Women account for less than 15% of all UK engineers. The Science, Technology, Engineering and Mathematics (STEM) field has always had a significant gender imbalance, often arising from girls often being discouraged from pursuing these topics in school. Whilst only 20% of Engineering graduates are female, there is still a discrepancy between those who graduate and those who actually work in the field. Worse still, 40% of female engineering graduates will eventually quit the sector, or never even end up working in it. Research suggests that this is largely due to organisational culture. Male-dominated workplaces not used to 40 Á 38-41.qxp_Layout 1 30/11/2022 09:51 Page 2Next >