E-MK’s advisers have extensive experience and expertise in starting, growing, funding and exiting successful manufacturing businesses.

The new funding is for suitable projects that fall under the MAS Level 4 Transformation Service for a strategic change to your business.

Opportunities for funding assistance are rare today.  So, if you are an SME manufacturer planning to implement a new strategy to grow and improve your business, and you are located within reasonable travelling distance from Milton Keynes, contact E-MK today to find out how we may be able to help you claim MAS funding for your project.

The new service will be delivered by the Manufacturing Advisory Consortium (MAC) and will help create an estimated £1.5bn in economic growth, 23,000 jobs and safeguard 50,000 jobs.

The Manufacturing Advisory Service will continue to deliver a national service to all manufacturing businesses in England but the new consortium now means that there will be a specific focus on:

* driving business growth through strategic and technical support for SMEs developing advanced manufacturing capabilities and creating high value jobs

* enabling business improvement with manufacturers operating in global supply chains; and

* linking SMEs with the apprenticeship programme delivering a minimum of 1,250 engineering and manufacturing apprenticeships annually.

Previously delivered through the Regional Development Agencies the new service will deliver four times the current return on investment.

The Manufacturing Advisory Consortium comprises Grant Thornton, Pera, WM Manufacturing Consortium Ltd and SWMAS Ltd.

1. The new MAS offer will comprise:

Level 1 (Enquiries)
Provided by a small team of experienced advisors geographically dispersed round England ensuring detailed local knowledge supported by an enhanced website offering a range of online support packages.

Level 2 (Manufacturing Review)
Continue to provide 1 day (2 days for more complex businesses), on-site specialist manufacturing diagnostic review. MAC will use a new diagnostic tool based on the principles of “Manufacturing Excellence” developed in conjunction with the Warwick Manufacturing Group which includes comparisons against best-in-class. In addition, a “Fast Track” over the ‘phone Level 2 will be introduced for common, well understood issues.

Level 3 (Events)
Continue to provide training and networking events, including best practice visits. These will be an integral part of delivering the Business Improvement actions identified at Level 2. This will be complemented by a Sustainable Improvement Community using best practice social networking tools to provide peer-led best practice examples and lower cost forms of self help.

Level 4 (Consultancy)
Introduction of a three tier Level 4 project structure:
· MAS Foundation Service: Funding up to £1,000 (or a maximum of 50%) towards an improvement project – targeted at companies who need basic low level help.
· MAS Step Change Service: Funding of up to £3,000 (or 50% maximum) towards a more significant improvement programme.
· MAS Transformation Service: Funding of up to £10,000 (or 50% maximum) for a strategic change to the business.

Level 5 (Referrals)
MAS advisors are responsible for identifying partner organisation support but retain responsibility for referral until it is demonstrated and confirmed by the client that the partner organisation has addressed the client need.

Supply Chain
Focus on helping SMEs diversify into advanced manufacturing supply
chains; helping original equipment manufacturers and their supply chains develop better relationships and greater efficiency; helping groups of SMEs in supply chains or clusters interact more effectively. It will use the tools available through Levels 1 – 5 with custom implementation packages assembled to suit client needs delivered by a team of dedicated supply chain experts.

2. The ‘See Inside Manufacturing’ initiative, being piloted by the automotive sector this year, is open to all young people in the UK, providing a unique opportunity to get behind the scenes of some of the UK’s world-class automotive facilities to learn about modern manufacturing and the range of rewarding jobs available in this exciting and diverse sector. The initiative will be rolled out to the rest of the manufacturing centre next year.

3. The quoted figures on growth potential and job creation are based on best practice from four experienced MAS suppliers with innovative strategies to increase client outcomes and reduce costs. The forecast outcomes are based on evidence from past performance and proven capability to replicate and scale best possible outcomes nationally.

4. BIS’s online newsroom contains the latest press notices, speeches, as well as video and images for download. It also features an up to date list of BIS press office contacts. See http://www.bis.gov.uk/newsroom for more information.

The 2011/12 Leadership and Management fund is managed in the South East by Skills South East and in the East of England and East Midlands by EMB Ltd, on behalf of the Skills Funding Agency.  Up to £1,000 Leadership and Management matched funding can be put towards one or a combination of development solutions delivered by registered providers such as specialist growth support business Exceed MK Ltd.

For example, eligible businesses in Milton Keynes, Buckinghamshire, Oxfordshire, Bedfordshire and Northants, may be able to claim 50% of the cost, up to a maximum of £1000, of business growth and strategy coaching, from specialists Exceed MK.  For further information and to book a free exploratory meeting with an e-mk adviser, please contact us.

I came across the following, in a book I have been reading, that illustrates why planning is as important now as its always been.

“No wonder, said an Ancient that chance has so much power over us, since it is by chance that we live. Anyone who has not groomed his life in general towards some definite end cannot possibly arrange his individual actions properly. It is Impossible to put the pieces together if you do not have in your head the idea of the whole. What is the use of providing yourself with paints if you do not know what to paint? No man sketches out a definite plan for his life; we only determine bits of it. The bowman must first know what he is aiming at: then he has to prepare hand, bow, bowstring, arrow and his drill to that end. Our projects go astray because they are not addressed to a target.”*

The author of the above was writing in the late 1500’s and the Ancient he referred to was Seneca the Roman philosopher born in 4 BC.

As the title says “nothing new under the sun.”

E-mk helps businesses, at all stages of growth, to form winning strategic plans.  You can find out how we might help you, by visiting www.e-mk.co.uk.

*Michel De Montaigne, The Complete Essays, Translated By M A Screech, Penguin Classics

An e-mk Advisory Board could be the answer.

No business is too small to benefit from having an advisory board. It is such a powerful management tool – can you afford to be without one?

The e-mk Advisory Board Programme offers a refreshingly different and increasingly effective alternative to hiring “consultants” and “business coaches”. The Programme provides you with affordable access to an independent and impartial team of experienced business leaders, with expertise in starting, growing, funding and exiting successful businesses.

We’re so convinced of the benefits of this programme that, until the end of September 2011, we are offering businesses in Milton Keynes, Bucks, Beds, Northants and Oxon a strategic business review worth £1000, completely FREE (well, just your time) with no ongoing obligation. This limited offer is available to the first ten businesses to contact us quoting offer code GROWTH. Book your appointment today and make a start towards achieving your growth ambitions.

Email growth@e-mk.co.uk or visit our website www.e-mk.co.uk

In the latest development in the ongoing review of small business taxation, the OTS has set out a number of options in two consultation papers, focusing on disincorporation for small companies, and a simpler income tax for the smallest businesses.

The consultations, which run until 7 October 2011, set out a number of options from clerical changes to more fundamental reform. Based on responses to the consultation exercise, which will include a series of meetings and workshops in the autumn, the OTS will prepare a final report with recommendations for the Chancellor. The aim will be to ease some of the tax and administrative burdens faced by small businesses.

John Whiting, Tax Director of the Office of Tax Simplification said:

“We have been told in no uncertain terms that tax administration can be a problem for small businesses. So we want to stimulate debate and allow those in business, and their advisers, to give us their views on the various possible ways forward.

“Would a cash basis be a better way of taxing the smallest businesses? How about flat rate expense allowances? What of the more radical alternatives some other countries use – could any of them work here? Do we need a disincorporation relief? Whether you agree with these ideas or not, we are keen to hear your views.”

The options put forward in the two consultation documents – found here http://www.hm-treasury.gov.uk/ots.htm – are not firm proposals but are intended to get people thinking and generate a debate to help the OTS refine its ideas ahead of the final recommendations to be made to the Treasury ahead of Budget 2012.

Responses to the document can be emailed to the OTS inbox. Alternatively, interested parties can contribute by attending one of the meetings and workshops that will be taking place around the country in September and October. The OTS would welcome offers to host or participate in these events from agents, businesses and representative bodies. Further information on the locations and dates of the roadshow events will appear on the OTS website in due course.

The telephone helpline is an important part of the Government’s new framework of support for businesses. In conjunction with the Businesslink.gov.uk website, the helpline will support small businesses and those starting up to find the information and guidance they need. It will also provide support to businesses that are not currently online.

It’s just a pity that at a time when Business Secretary, Vince Cable, is urging us to buy from Britain that the profits from this contract, funded by UK tax payers, will ultimately go to a foreign company.  Surely there must be British call centre businesses capable of running the Business Link helpline?

The first step in preparing to raise any type of capital is the production of a detailed business plan that includes a detailed marketing plan and realistic financial projections. Investors are of course going to look at the hard facts of the business, your past performance and forecasts for the future, but they will also want to see that your business stands out from your competitors.

Here are some of the items to consider:

1. Managing the Company’s money. Investors are not looking to support businesses that have run out of money or are in debt. They will be looking for evidence of a healthy bank balance, not only to back up cash flow claims but to prove that your company is frugal and spending and saving wisely.

2. Dealing with change and demands. All Investors want to see a company that is able to respond to market challenges and opportunities. Demonstrate where the business has proved that it has recognised the need to change and what you did along with time taken to achieve the change.

3. Experience. All Investors are looking for proof that the owner and management team have solid business skills and understand how to manage the business, you are after all ask them to give you their money. Use problems the business has experienced in the past as a means of demonstrating your overall ability to turn things around quickly.

4. The Customer is King or Queen. All Investors are very aware of the importance of customers. The amount the business invests in customer care not just in money terms will help your potential investors achieve a level of confidence in their gaining a return on the money invested. It is critical that you show that you and your business understand who your customers are and what they want.

5. Commitment. All investors are looking for you and your management team’s commitment in the future plans for the business. Before you consider speaking to any investor your key task is to ensure that everyone backs the vision of the future that you and they will be presenting. Investors spend a lot of time talking to business owners and their managers and can tell very quickly when the story does hang together.

Remember you are asking an investor to put their money into your company. The more you can provide the evidence that they will make a suitable return the greater the chance you have of gaining their involvement.

I suspect that there are numerous reasons, but amongst these is likely to be the view that they are too expensive or, perhaps strictly, that the perceived benefit that they deliver does not represent good value for money.  This may indeed be the case and is obviously highly dependent upon the individual(s) concerned.  However, a good non-executive will devote substantial time to the organisation, be familiar with its business and management and their aims and objectives and will therefore be able to provide constructive criticism from an informed standpoint.  Having someone who is knowledgeable about your business asking you questions and challenging your views and arguments is invaluable when you are developing strategy and plans and making decisions.

Not convinced?  I too was sceptical about the value of a non-executive director or independent advisor but my eyes were opened to the benefits of having someone to act as a sounding board and challenge my thinking about 12 years ago.  It came about almost by accident as a result of an annual meeting with our auditors.  At that time there was still a requirement for an annual independent audit of accounts and since we had a well-qualified Finance Director who kept a very clean set of books, the large firm of accountants who we used as auditors would levy an exorbitant charge on us for essentially rubber stamping our management accounts.  As a consequence the annual audit meeting usually descended into an argument over the fees and the poor value that they represented from our standpoint.  At one such meeting, the exasperated audit partner conceded that sending in a large, well-qualified and highly paid team to perform the fairly perfunctory audit clearly wasn’t delivering much value to the clients and that perhaps we should rethink what should be done.  He suggested that the fees remain the same but that the audit team would be scaled back slightly, in line with their audit findings over several years, and that instead he would send one of his senior managers (already familiar with our business) along to attend one Board meeting each quarter.  The rest, as they say, is history.  From the outset the chap brought a fresh pair of eyes and a different way of thinking to the issues we were dealing with.  He brought new contacts and ideas and even in cases when we didn’t pursue his suggestions, I am convinced that his input genuinely enhanced the quality of our decisions.   Suffice to say that we were sufficiently convinced of the value that he was delivering that arguments over audit fees essentially disappeared even though they continued to rise in line with inflation.

So would your business benefit from some independent input?  Are you going to just wait for something to happen like I did, or are you going to be more proactive in pursuing growth?  You may well not want a non-executive director: appointing someone to the Board of your company is, after all, a big decision and not one to be taken lightly but there are other ways of achieving the same benefits.  The e-mk Advisory Board Programme is one means of affordably tapping into some independent thinking. Why not give it a try?

Do you have a turnover of at least £75,000?

Is your business located in Milton Keynes, Oxfordshire, Buckinghamshire or Berkshire?

Then Sustainable Routes can offer a grant of up to £1,000 to businesses who want to cut business travel costs by adopting new ways of working.  If your business is a small or medium sized enterprise (SME) employing less than 250 people and has been trading for at least two years, then here is your opportunity to focus on business travel and come up with ideas that will save you money.  The project has been funded by the European Regional Development Fund through the South East ERDF Competitiveness Programme 2007-2013.

By signing up to Sustainable Routes you will benefit from:

• a personalised Travel Efficiency Plan
• a grant of up to £1,000 (match funded)

Impact your bottom line and do something really useful for your business. Save money and help your employees and the environment.

www.sustainableroutes.co.uk