The LEGO Group has named Publicis One, powered by Starcom, as its newly-appointed global media agency. The agency was selected after an 18-month pitch, which included incumbent agency Initiative. The LEGO Group has consistently connected with and inspired fans, families, and kids on the importance of play, launching campaigns as part of the “Rebuild the World” global platform, including “Play Unstoppable” and “Play is Your Superpower.” They will continue exploring relevant, and authentic ways to engage its audiences. Its new agency partner, Publicis One, will focus on strengthening these connections within a complex and rapidly evolving media and retail landscape. The LEGO Group’s Chief Product & Marketing Officer Julia Goldin said: “We were impressed with Publicis One’s depth and breadth of expertise – as well as their aligned cultural values. We look forward to working together to further enhance our ecosystem, leveraging their insights and capabilities to create engaging and meaningful experiences for our audiences. Together, we aim to inspire children and families globally, nurturing creativity and fostering learning through play." Publicis One will commence onboarding from the beginning of July, working with Initiative over a three-month period to ensure a seamless transition and continued strong presence for the LEGO® brand. Julia Goldin added: “We would like to thank the team at Initiative/IPG for a great seven years. They have been with us every step of the way as we significantly grew the business, launched our first global brand campaign, and reached more children than ever before. We are grateful for their support and collaboration.”

Although the leading business survey shows that confidence and trading conditions have improved slightly among Scottish firms, it remains at a relatively low base. The Scottish Chambers of Commerce’s Quarterly Economic Indicator also reports continuing investment and recruitment challenges alongside increasing concern from taxation. Scotland’s largest business network is now calling upon government north and south of the border to deliver a long-term economic plan, which supports a just transition, address skills shortages and unlocks investment across the country. Taxation overtook inflation as the leading concern, while fears over competition saw the largest increase (40%) compared to the previous quarter (30%). Stephen Leckie, President of the Scottish Chambers of Commerce said: “Taxation continues to concern firms, to the extent that the issue has overtaken inflation as the leading concern." “This is having a major impact in attracting and retaining talent in Scotland, contributing to the significant labour challenges many businesses are already experiencing. Divergence on personal taxation has exacerbated the issue." “Businesses will be looking to both the Scottish and UK government to set out long-term plans to address the current state of taxation which is impacting growth, investment and talent.” Recruitment difficulties increased from 47% to 55% compared to the last quarter, largely driven by challenges across the retail and tourism sectors. Labour costs are impacting three quarters of firms. Mr Leckie added: “Our report shows that over half of Scottish businesses are continuing to experience significant costs and challenges with attracting and retaining the talent they need." “More restrictive changes to the immigration system made earlier this year, the increase in the national minimum wage, and skills shortages, are all adding pressure on employers." “The UK Government should address this by introducing a skilled migration strategy which is tailored to the needs of the Scottish economy and restore our reputation as a welcoming and open destination for international students to study, live and work.” Q2 saw significant improvement in terms of cashflow and profits for firms - particularly profits - with growth on balance recorded for both trends. Mr Leckie warned: “Our latest survey indicates generally improving business conditions across the economy, albeit significant challenges continue to persist which are limiting the ceiling on potential growth and investment." “The impetus to deliver a credible plan for sustainable growth lies with both the Scottish and UK Government. Now must be the moment to focus on long-term solutions to tackle poor productivity and create an environment for business investment to accelerate." “The first step is engaging with businesses in Scotland and across the UK, to instil confidence in a new partnership between government and the private sector which is ready to propel our economy to growth and identify how initiatives such as the National Wealth Fund will support Scottish business.” The report highlighted that although around four in 10 firms are still holding back on investment, that number was slightly down on the previous quarter. Mr Leckie commented: “It’s positive that the survey results are beginning to see a reversal in the consistent trend of frozen investment. Without unlocking investment, firms cannot power the growth the economy needs and which government is relying on to grow the public finances." “Significant cost pressures, trade barriers and skills shortages, are critical factors to address if we are to see investment across growth sectors such as AI and green technologies." “To support a just transition, the oil and gas sector urgently needs action and a plan that will give them the confidence to unlock investment worth hundreds of millions which is currently on hold due to uncertainty over the UK Government’s commitment to the sector.”

In 2001, Bilal Zein, Chief Operating Officer at Quanon Capital Ltd, set up a Single Family Office, discreetly serving a family of wealth, as well as overseeing their corporate family business and direct operating assets. He has 32 years of experience of managing multi-assets, including financial, legal and operational. Passionate about wealth management, and with a great depth of knowledge in relation to family and corporate governance, he is ideally placed to explain the evolution that a business founder, principal or inheritor may take when moving from using the family business’s offices for support, to setting-up a separate investment office, or moving to a Family Office. According to Bilal, it’s only natural that the founder, or principal of a business, leans on the company’s professionals for personal help from time to time. After all, the business is their life, and vice versa: the founder’s and the business’s affairs often overlap and intertwine. The embedded family office, as it is termed, may also provide support (both investment related and personal) to the founder’s family members that also work in the business. However, there comes a point when the interests of the family and the business are best served separately. “The family office comes in different shapes and forms,” explains Bilal. “It starts with a personal assistant doing some work for the principal and slowly moves on to help with lifestyle, or managing personal financial assets, right up to the extreme of structuring the wealth of the family,” he says. “In between, you have other services that the principal, but more importantly, the next generation, will start to look at. That spectrum ends-up splitting the family office space into investment offices for families, or more comprehensive services – fully fledged Family Offices for the families,” he says. Getting To Crunch Point “For some families it’s just easier to lean on the people that they’ve worked with and trust in the operating business: ‘While you’re doing all this work for the company, can you also do this work for my investments’, for example. That’s very typical. To be honest, I’m a good example. I originally worked for the family business,” Bilal confesses. “But it’s important to understand early on, that you have to have proper boundaries,” he stresses. “It’s very easy to get blurred in terms of the conflict of interests. So, if I’m a lawyer for the business and the principal asks me to look at their personal assets, sometimes those assets may be used for the business and there might be a conflict. Am I looking out for the best interests of the company, or the best interests of the family when it comes to those assets? In the same way, if we’re looking at the financial returns, would the investment assets for the family, or the business come first?” he illustrates. According to Bilal, the majority of wealthy families will have similar types of investments. “Real estate, financial assets and private equity, for example, can all be embedded in the family business, but it will be biased towards what the business understands and is good at. That might be a good thing to focus on, but it has to be done by design and not default,” he cautions. “When you start moving out of the embedded family office you open up to other assets that are available for the family to look at and to invest in,” he explains. “That requires slightly different skill sets and a different focus. The CFO in the operating business is unlikely to be a skilled investment manager and may not have the requisite investment experience or expertise.” Bilal adds. But the critical factor to understanding what type of family office structure to have, is to understand who the office would serve. This question becomes all the more important once the family grows to include multiple generations. “An embedded family office very much serves the members of the family who are in the business and the members of the family who are not working in the business are left behind in a way,” Bilal explains. “This is where the stand-alone Family Office comes in. It’s very important for serving those members of the family who aren’t in the family business.” Understand what the family wants and needs. “There’s no right or wrong about it, it’s just about design and obtaining the best outcome from that design for the family in question,” says Bilal. “Sometimes families decide that they want to stay in the family business, to focus on what they know best and concentrate their efforts and capacity to invest in building or expanding the family business. Other families decide they want to serve the members of the family who are not in management, to diversify and offer other services,” he explains. Stand-alone Investment or Family Office? “Typically, once the principal decides they want to look at investments to diversify for the family, they may choose to focus on just one or two asset classes. I’ve seen a lot of such offices,” says Bilal. “They become expert in that particular asset and it becomes an investment office for the family more than an embedded family office. For example, some will focus on real estate, whereas another family might concentrate on logistics. Effectively, it is a stand-alone asset manager for the family,” he explains. “But, that is only achievable if there is enough scale,” he adds. The basic and most common example is with financial assets, according to Bilal. “It’s the easiest because the providers offer support, whether a private banker, a financial institution or a multi-family office, and they are the easiest to benchmark,” he says. “If the range of the assets under management goes from a few million pounds to one hundred or two hundred million pounds, it could be done through the private banks or asset managers. The lower the level of asset – under two hundred million pounds, say, the more difficult it would be to do it in-house,” he cautions. “It would cost more and there would be less incentive for a manager to run your portfolio. “The attraction for talent is based on reward – that’s the challenge,” says Bilal. “Families can save on private banker or investment institution charges by doing it in-house, but then they would incur the cost of running the office and run the risk of having the bias of one manager, who could at some stage decide to leave – you have to keep that in mind as well: the succession,” he adds. “I’ve been serving one family for twenty-plus years, but I’m not going to be around forever, so you need to think about that.” Another aspect to consider is investment advice from within family itself. “Some families will have among their members, perhaps from the next generation or an in-law, someone who’s financially driven and has the relevant skill set,” suggests Bilal. “That might dictate the family putting the investment in-house. That comes with some risk of bias, whether conscious or unconscious, through the nature of the family relationship, and not to forget the major risk of members of the family deciding to separate from the family or divorce.” he adds. However, it’s not only financial assets. “There’s also real estate, or venture capital, for example. A member of the family might take that on and become the asset manager. The totality of the asset allocation and the investment policy would be skewed towards the skills, or driven by the preferences of the family members. That’s something that I’ve seen a lot,” says Bilal. A Family Office involves additional services “As the family grows you may find you have members, or the next generation, who are not involved in the business or the investments and the question arises: what are you going to do for the rest of the family?” asks Bilal. “This is when the family has to make a decision – does it continue being a family, staying together and putting all its assets and services under one umbrella, and preferably professionalising that approach; or split and everyone goes their own way?” According to Bilal, if the family decides to stay together, it has to ask questions such as, who is family and how do you treat the different generations, in-laws etc. “The first step is designing what the family wants, step two would look at how to deliver that to keep the family together, and then step three would go into the services required from a Family Office, or to look at outsourcing – they might decide they don’t need a family office,” Bilal suggests. Services could include managing the financial assets, legal, tax accounting, compliance, structuring, security, lifestyle services, family education, reporting, succession planning and family governance. Ultimately, the Family Office needs to have a strategy, a clear understanding of what the office will be delivering, to whom, and in what format, and then to have a proper business plan to share with the family. “With that comes the governance,” Bilal highlights. “What will be the relationship between the office and the family? What will be the services required by each member of the family? It has to be clear,” he stresses. “Each family will require different services, but there are some commonalities. Tax is one of them, structuring is another, and wealth planning which I see as the backbone of the family office." “Like everything in life, those are not static,” he continues. “Once you have the design, you have to keep on reviewing the services or the structures that you have put in place for the family, because things change in the family – you have new generations, you have different members of the family moving to different jurisdictions and not to forget the change in the environment (tax, political, social),” Bilal explains. However, it’s not all about wealth planning. For some families the excitement comes not from the investments but from philanthropy. “The Family Office can keep on top of the execution for the family and be their tool,” says Bilal. “The family will agree the themes that they’d like to support and who would be doing what, and the role of the Family Office would be either to execute the plan, or at least to give support to the family, and manage the reporting.” Bilal stresses that linking the non-financial aspects with the financial aspects is one of the most important elements of the reporting. He says: “The family needs to understand, if it has the means and the tools to deliver the best support.” “Technology is moving very fast in this space,” explains Bilal. “Some twenty years ago, very few providers offered technology to support the Family Office. Excel and PowerPoint were, and to some extent still are, the main tools.” “The interface with the family is important – most of families now require reports on their hand-held devices, not even on their laptops. There are plenty providers and each provider meets the needs of the families, more or less, so sometimes you have to complement with another provider." “The challenge for families is to design what they want first and how they want it to be delivered. Then the Family Office would look at the providers and do the proper due diligence to understand which provider will give the best solution for that family. Some providers are at the early days of developing a product, or they are not suitable for the family such as, tax modules,” Bilal warns. “At the moment tax is a specialist tool. Most families include different generations and different jurisdictions and for that you have to have specialist tax input,” he says. “Having one tool that includes tax as well as asset reporting, lifestyle reporting, reporting on collections, and on all of the family’s assets, becomes a little bit challenging. There are tools that claim to do it, but you have to do the due diligence and understand whether those tools will cover the requirements, especially if you have a complex family,” Bilal says. “Moving to the cloud has made the challenges formerly experienced with servers and server locations a little bit easier, but from a tax perspective it’s still not very clear,” he adds. Adopting new technology is difficult “It’s a proper project that needs to be carried out by a team,” says Bilal. “The Family Office would be a good place to start from, at least to understand the needs and to pull in the resources as needed to do the project. It’s lengthy and costly, but there are rewards at the end, but there are costs first!” he warns. Bilal recommends following the 80:20 rule. “The first step is to understand from the family: what they want to see, how often and who would see what. You have to remember that different members of the family will have different needs and expertise. For example, a family member with a financial background and one more into art collections will want the same information, but presented in different ways,” he explains. “You need to have a proper proposal,” he continues. “To do that, you have to first understand the audience: who would see what, how frequently and how – on their phones or a PDF report? Some family members will still prefer a PDF, so you have to look at that. You have to have a proper specification before going to the market and do your due diligence. In one particular instance, a provider had a fantastic service, but when I looked upwards into the ownership it wasn’t something that the family would feel comfortable with,” Bilal confides. “A provider may only be able to give you 80 per cent, and you have to be 100 per cent comfortable with the 80 per cent, rather than going to a provider that claims they can deliver 100 per cent, by outsourcing, or by doing things manually for you,” he explains. “The family may prefer to keep that 20 per cent in-house to keep confidentiality, or avoid the risk from other challenges that the family might run such as, tax. It’s an 80:20 rule.” According to Bilal, another element that the family office should look at before embarking on a new technology project is the exit. “It’s painful to move from one provider to another. You have to think about the exit before getting into a marriage with that provider,” he recommends. Confidentiality is a key concern when deciding on the structure of the Family Office. “Different families will have different structures, but one structure that works well would be to keep the Family Office completely separate from the assets,” recommends Bilal. “It’s not a GP LP (limited partnership), but a standalone entity which has very clear boundaries in terms of what it does. The assets would usually be put into different structures for the family early on, so the entity becomes a management company, in practical terms,” he explains. Keeping assets separate from the Family Office maintains confidentially because any information it publishes, as a management company, will just be costs. “Ideally it owns nothing, so that it could be movable, one day in London, one day in Singapore, and one day in Switzerland, depending on the tax and the needs of the family,” Bilal adds. “Another structure would be to embed the Family Office in the trust structure of the family,” Bilal suggests. “Proper homework needs to be done to understand the structure of the family and how is the wealth structured and consequently, how to best structure the Family Office. That’s the homework that needs to be done specifically for each family. There’s no one size fits all,” he adds. How should a Family Office charge for its services? “To avoid any conflict of interest, it should be a cost plus model,” says Bilal. “The minute you have any complexity it will be challenging not to have a conflict of interest. In my experience it should be a cost plus model and it should be a standalone based on agreed services. If those services are provided equally to all members of the family it’s easy, because it’s a direct charge to the structure of the family,” he explains. “However, if you have distinct needs for specific members of the family, the costs should be agreed at a family level first, at the family council or meeting. Services and their costs have to be clear and measured. It has to be transparent and it has to be reviewed and revisited periodically to make sure that it’s still fit for purpose and that everyone is happy with that,” recommends Bilal. “It’s very hard for the Family Office, especially a small one, to keep timesheets to measure personal usage by family members,” explains Bilal. “There is a thin line between becoming too focused on the timesheets and not doing it at all. There’s a degree of flexibility here, but use has to be reported depending on the assets that the office is managing, the services and the scope, because some services are not measurable,” he cautions. Performance also needs to be measured, but how can you measure intangibles? “That’s the challenge for the Family Office that is serving many generations and providing different services,” says Bilal. “Measuring the performance of the financial aspects is easy – just look at the returns! But how can you reward the Family Office team members who deal with a family member’s household, or help with an insurance claim, or a construction plan for one of the family’s personal properties? That’s more difficult,” he admits. “It all comes back to my initial point: the Family Office should have a business plan and be run like a business,” says Bilal. “Performance against the plan and against the objectives agreed with the family should be part of the reporting tool at the end of each period. It could be quarterly, bi-annually or yearly. The Family Office should sit with the family and have a strategic review of what has been done against what was designed and that feeds into the reward of the Family Office,” he suggests. “If you are an investment office, performance and reward will be linked to the performance of your assets – a financial asset model similar to investment bankers. However, if the Family Office is offering the full scope of services, then reward should be completely, to my mind, discretionary,” says Bilal. “That’s because even as a professional, you naturally have bias towards the classes of asset that would reward you more. It should be discretionary at the end of each period, decided on a one-to-one, or one-to-many basis and based on general performance rather than asset performance because the Family Office team member might have served the family on something which is very important to them, but on which you cannot put a monetary value. The family could agree on a range ahead of time that the bonus could be a percentage, or open – depending on the family. I’ve seen some families that don’t have any range, so it’s completely discretionary: one year it could be ten per cent, one year it could be 200 per cent, that’s up to the family to decide,” explains Bilal. Could a family member run the Family Office? Yes, says Bilal, but it should be based on merit. “It depends whether the family member has enough experience. That experience could be gained by working elsewhere before coming to run the Family Office, or it could be within the Family Office but with a clear path, not just coming straight into the top job. The remuneration has to be based on performance and there should be clear performance management. You don’t get to have the privilege of managing the Family Office just because you have the surname of the family,” says Bilal. Three key things for a successful Family Office: 1. Understand your audience – that’s critical to having a successful role. Understand who they are, what they want and their objectives. Understand the assets and the wealth, and have a clearly designed path for the where that wealth is going to go and who will be part of that journey. 2. Always be ahead of the game for the family – always have a solution. Plan for different scenarios so you can be there, not just for the family but for the assets as well. 3. Be flexible and to revisit the plan because life is not static – just because you did something last year doesn’t mean it’s still fit for purpose today. You have to keep on reviewing and making sure that you have the resources in-house or outsourced, to serve the needs of the family. About the Article This interview was conducted by PKF Littlejohn and first appeared on their website and has been reproduced here with their permission.

More and more businesses are finding that employees are driving activism around topics and issues in the workplace that are important to them. In fact, 59% of employers expect employee activism to increase even further. But what are some key topics that could trigger employee activism in the workplace? And what can employers do to address them? We’ve outlined four of the most important that are likely to circulate in conversations and must be addressed. Cost Of Living And Pay Concerns The cost of living is a huge concern to residents of the UK, with the Consumer Prices Index (CPI) finding that consumer prices are 3.4% higher compared to the previous year. Pair this with the Labour Market Outlook: Winter 2023/2024 from the CIPD finding that basic pay increases are expected to fall to 4%, which is the first decline since spring 2020. As the gap between the cost of living and salaries grows, it’s likely that employee activism will focus on seeking increased pay. It is important for businesses to take note of how this might affect headcount in their workplace, as talented workers will begin looking elsewhere for better pay, which could, in turn, damage their reputation. Sustainability And Environmental Impact As public perception of sustainability becomes more prevalent, so does that of workers throughout the UK. Research by KPMG found that 20% of UK office workers would turn down a role if environmental, social, and governance (ESG) factors of a business were deemed as ‘lacking’. This shows the shifting importance of prioritising sustainability in business strategies when looking at employee retention and attraction, especially to avoid activism. There are several ways that employers can emphasise their commitment to sustainability and ESG, such as investing in more energy-efficient solutions and developing greener products and services through the materials used for production and packaging. Ben Mercer of Leisure Lakes Bikes , a leading retailer of quality road bikes in the UK, has outlined where offering a cycle-to-work scheme could help promote their sustainability commitments: “Encouraging workforces to embrace different ways of commuting to and from work helps to promote sustainability as a major concern from employers, particularly to move away from relying on motor vehicles." "Not only does cycling offer a carbon-less travel option but promotes travel that can benefit both physical and mental wellbeing, which exercise like cycling is deeply connected with.” Automation, AI, And Job Security Emerging technology, while exciting, offers a daunting look into the future for workers across various industries who may fear that their jobs are at risk of becoming automated. IPPR analysis found that as many as eight million jobs in the UK could become at risk of AI fully displacing the human element of the job. It’s important for businesses to engage with and integrate emerging technologies into strategies to stay competitive within their respective industries. However, it’s crucial to outline to employees that the human element is still essential to processes and operations. Refocusing the perspective from human replacement to working aid is one way to encourage workers to experiment with AI and automation tools to streamline monotonous and repetitive tasks and focus more attention on higher-value ones. Equality, Diversity, And Discrimination (EDI) One subject that shouldn’t fall down the list of priorities for businesses to avoid an increase in employee activism is equality, diversity, and inclusion (EDI) strategies. Data from Barnett Waddingham found that around 72% of HR directors and C-suite professionals who were surveyed outlined that employee demands for EDI focus were of concern for their business. Businesses that invest in diversity and inclusivity have been found to actually perform better, with a McKinsey report from 2023 finding that companies within the top quartile for ethnic diversity are improved by as much as 27% financially compared to competitors. This is why it’s important to consider candidates from various backgrounds when recruiting. Discrimination doesn’t just extend to gender, race, and ability, as social discrimination is also a factor that must be considered. This extends to mental health and wellbeing not being supported by employers, which could lead to employees seeking a new job elsewhere. Employers expressing their support for individuals with neurodiversity issues and mental health concerns, both in hiring and within their current ranks, could help build more empathy within their company for their day-to-day struggles. By addressing complex topics instead of avoiding them, you can create a culture of communication and better engage your employees. This helps human resources departments explore options and strategies to prioritise happiness within the workplace and build for the future.

Essex firm Sybron, a leading family run UK supplier of cleaning, hygiene and catering products to some of the largest names in hospitality, has been appointed as the preferred distribution partner in the UK for My Drap, as the company seeks to expand its UK business. Owned by Texia, My Drap is a market leader in the design and manufacture of single-use fabric coasters, napkins and placemats, made from premium, natural materials such as 100% cotton, recycled cotton and linen. The range also includes table products suitable for bathrooms in luxury hotels and restaurants. All products can be customised, branded and shipped pre-cut, in rolls, flat or folded to suit customers requirements. A family-owned business based in Barcelona, Texia continuously innovates so that its products are increasingly environmentally responsible. It is a member of the Better Cotton Initiative (BCI) which works to improve global cotton production both for the people who produce it and for the environment it grows in, to secure a better future for the sector. Sybron is based at Crammond Park, Harlow. “While My Drap has long maintained a UK presence, we wanted a trusted partner to further amplify and strengthen our brand and business here,” says Texia’s area sales manager, Carla Vila. “Our strategic partnership with Sybron marks a significant milestone in our commitment to delivering unparalleled quality and service to our valued UK customers. We are very confident in their ability to represent our brand.” “As a forward-thinking and dynamic business, we continually seek out new collaborations to enhance our product offering,” says Sybron Sales and Marketing Director, George Mason. “My Drap aligns perfectly with our ethos and their commitment to sustainability resonates deeply with Sybron's values. Their products boast an unmatched level of quality, setting them apart from other disposable alternatives in the market.”

More and more businesses are finding that employees are driving activism around topics and issues in the workplace that are important to them. In fact, 59% of employers expect employee activism to increase even further. But what are some key topics that could trigger employee activism in the workplace? And what can employers do to address them? We’ve outlined four of the most important that are likely to circulate in conversations and must be addressed. Cost Of Living And Pay Concerns The cost of living is a huge concern to residents of the UK, with the Consumer Prices Index (CPI) finding that consumer prices are 3.4% higher compared to the previous year. Pair this with the Labour Market Outlook: Winter 2023/2024 from the CIPD finding that basic pay increases are expected to fall to 4%, which is the first decline since spring 2020. As the gap between the cost of living and salaries grows, it’s likely that employee activism will focus on seeking increased pay. It is important for businesses to take note of how this might affect headcount in their workplace, as talented workers will begin looking elsewhere for better pay, which could, in turn, damage their reputation. Sustainability And Environmental Impact As public perception of sustainability becomes more prevalent, so does that of workers throughout the UK. Research by KPMG found that 20% of UK office workers would turn down a role if environmental, social, and governance (ESG) factors of a business were deemed as ‘lacking’. This shows the shifting importance of prioritising sustainability in business strategies when looking at employee retention and attraction, especially to avoid activism. There are several ways that employers can emphasise their commitment to sustainability and ESG, such as investing in more energy-efficient solutions and developing greener products and services through the materials used for production and packaging. Ben Mercer of Leisure Lakes Bikes , a leading retailer of quality road bikes in the UK, has outlined where offering a cycle-to-work scheme could help promote their sustainability commitments: “Encouraging workforces to embrace different ways of commuting to and from work helps to promote sustainability as a major concern from employers, particularly to move away from relying on motor vehicles." "Not only does cycling offer a carbon-less travel option but promotes travel that can benefit both physical and mental wellbeing, which exercise like cycling is deeply connected with.” Automation, AI, And Job Security Emerging technology, while exciting, offers a daunting look into the future for workers across various industries who may fear that their jobs are at risk of becoming automated. IPPR analysis found that as many as eight million jobs in the UK could become at risk of AI fully displacing the human element of the job. It’s important for businesses to engage with and integrate emerging technologies into strategies to stay competitive within their respective industries. However, it’s crucial to outline to employees that the human element is still essential to processes and operations. Refocusing the perspective from human replacement to working aid is one way to encourage workers to experiment with AI and automation tools to streamline monotonous and repetitive tasks and focus more attention on higher-value ones. Equality, Diversity, And Discrimination (EDI) One subject that shouldn’t fall down the list of priorities for businesses to avoid an increase in employee activism is equality, diversity, and inclusion (EDI) strategies. Data from Barnett Waddingham found that around 72% of HR directors and C-suite professionals who were surveyed outlined that employee demands for EDI focus were of concern for their business. Businesses that invest in diversity and inclusivity have been found to actually perform better, with a McKinsey report from 2023 finding that companies within the top quartile for ethnic diversity are improved by as much as 27% financially compared to competitors. This is why it’s important to consider candidates from various backgrounds when recruiting. Discrimination doesn’t just extend to gender, race, and ability, as social discrimination is also a factor that must be considered. This extends to mental health and wellbeing not being supported by employers, which could lead to employees seeking a new job elsewhere. Employers expressing their support for individuals with neurodiversity issues and mental health concerns, both in hiring and within their current ranks, could help build more empathy within their company for their day-to-day struggles. By addressing complex topics instead of avoiding them, you can create a culture of communication and better engage your employees. This helps human resources departments explore options and strategies to prioritise happiness within the workplace and build for the future.

Essex firm Sybron, a leading family run UK supplier of cleaning, hygiene and catering products to some of the largest names in hospitality, has been appointed as the preferred distribution partner in the UK for My Drap, as the company seeks to expand its UK business. Owned by Texia, My Drap is a market leader in the design and manufacture of single-use fabric coasters, napkins and placemats, made from premium, natural materials such as 100% cotton, recycled cotton and linen. The range also includes table products suitable for bathrooms in luxury hotels and restaurants. All products can be customised, branded and shipped pre-cut, in rolls, flat or folded to suit customers requirements. A family-owned business based in Barcelona, Texia continuously innovates so that its products are increasingly environmentally responsible. It is a member of the Better Cotton Initiative (BCI) which works to improve global cotton production both for the people who produce it and for the environment it grows in, to secure a better future for the sector. Sybron is based at Crammond Park, Harlow. “While My Drap has long maintained a UK presence, we wanted a trusted partner to further amplify and strengthen our brand and business here,” says Texia’s area sales manager, Carla Vila. “Our strategic partnership with Sybron marks a significant milestone in our commitment to delivering unparalleled quality and service to our valued UK customers. We are very confident in their ability to represent our brand.” “As a forward-thinking and dynamic business, we continually seek out new collaborations to enhance our product offering,” says Sybron Sales and Marketing Director, George Mason. “My Drap aligns perfectly with our ethos and their commitment to sustainability resonates deeply with Sybron's values. Their products boast an unmatched level of quality, setting them apart from other disposable alternatives in the market.”

Leading hospitality group Buzzworks has unveiled some of the special preparations its hardworking teams have been taking part in ahead of the 152nd Open, taking place in Troon this month. With an anticipated influx of 300,000 guests, Buzzworks is committed to offering a top-tier experience to visitors from around the globe and locals alike. In the lead up to the event, Buzzworks has also enlisted its teams with a series of training sessions and quizzes over a period of six weeks, designed to equip staff with the skills needed to showcase the best of Scottish hospitality. Buzzworks Learning and Development Manager, Holli Gordon, said: “Our teams have been training hard over the last six weeks to ensure visitors who come to Troon during The Open leave with the best possible experience, and so that we can spotlight Scotland’s best food and drink while staying true to our values." “A large part of this training has been about storytelling, so staff can give visitors local knowledge and local products to talk about. But the sessions have also been designed to be engaging and fun, because we believe that when our staff are enjoying themselves, they’re more motivated and effective in delivering excellent service." “We want to offer everyone the most that we can and showcase the local produce and we’ve trained our teams to deliver that in the best way possible.” Sponsored by Loch Lomond Malts, the whisky training session was a highlight for employees developing their skills ahead of The Open, featuring tasting sessions and a knowledge-building quiz. Gavin Goslan, Buzzworks' Bar Training Manager, said: “We have a lot of visitors from far and wide and we wanted to highlight Scottish products, with whisky obviously being a huge pull for these visitors." “We made sure our knowledge was up to speed with whisky and premium dishes such as lobsters, steaks, and Scottish beers. The excitement is palpable, and our teams love the fact they get to dive into what we have to offer as a country and as a business in the local area during such a prestigious event." “From our world-renowned whiskies to the freshest seafood and finest cuts of meat, we take immense pride in presenting the best of our local culture and flavours to an international audience.” Meanwhile, a cocktail competition sponsored by Ben Lomond Gin added an element of fun and creativity to the training. Robbie Quinn, team leader at Scotts Troon, won first place with his cocktail, The White Horse', which will be featured on the drinks list during The Open. The winning cocktail includes a refreshing blend of Ben Lomond gin, cucumber & mint oleo, fresh lime juice, absinthe, seaweed bitters, saline, and sparkling water. Further training sessions covered various aspects of hospitality, including Customer Experience, Barista Skills, the Art of Hospitality, and How to Wow. Holli also shared insights on the holistic approach taken in their training. She commented: “We’ve put a lot of effort into customer profiling to ensure each visitor has the best host suited to their tastes and preferences. This personalised approach ensures a memorable experience for all our guests.” She added: “Our hope is to really elevate the experience for our customers and to help boost future tourism for the area, and to ensure a lasting legacy for Buzzworks and some of the amazing brands we’ve been working with.” The team behind Buzzworks, which has been named in the Best Companies to Work for List consistently over the past few years, is looking forward to another fantastic season of serving up superb food and drink during The Open. Alongside Lido Troon, the award-winning company offers an aspirational dining and entertainment experience across Scotland through its other stylish brands – Scotts, House, Ourboard, Vic’s & The Vine, The Duke, Thirty Knots, The Bridge Inn, The Fox, and Herringbone.

Business activity grew in nine UK nations and regions in June, after having risen in all 12 in the previous month, the latest NatWest Regional Growth Tracker showed. Key Findings: Nine out of 12 UK nations and regions record growth of business activity in June London tops the growth rankings, ahead of Northern Ireland Yorkshire & Humber underperforms The NatWest Regional Growth Tracker Business Activity Index is the first fact-based indicator of regional economic health published each month, tracking the monthly change in the output of goods and services across the private sector. A reading above 50 signals growth, and the further above the 50 level the faster the expansion signalled. The strongest rise in business activity in June was recorded in London (index at 56.1), which went against the general trend and saw growth accelerate from the month before. The South West (53.9) was the only other area where output rose at a faster rate. There were renewed falls in activity in both Yorkshire & Humber (47.7) and Wales (49.7), while the South East's (49.9) upturn stalled. Sebastian Burnside, NatWest Chief Economist, commented: "Our Regional Growth Tracker shows that most parts of the UK continued to see business activity expand in June, with one or two pockets of real strength. London and Northern Ireland topped the latest rankings, and it's these two that have recorded the strongest average growth so far this year." "At the other end of the scale, the only notable decrease in activity at the end of the second quarter was seen in Yorkshire & Humber, which the Growth Tracker shows has generally underperformed for the best part of a year." "Demand conditions varied across the UK in June. The number of nations and regions reporting growth in new business fell, although this masked some stronger performances, especially in Northern Ireland and London, but also in the North West and South West." "Business expectations took a bit of a hit almost universally in June, reflecting uncertainty ahead of the general election. Encouragingly, however, most areas saw employment rise as businesses continue to forecast growth in activity over the coming year." "Although neighbouring each other, the South East and South West are seeing contrasting trends in employment. The divergence, which began at the start of the year, has grown in recent months, with the South East seeing its strongest job creation in over a year." "An acceleration in output charge inflation across most parts of the UK in June shows continued stickiness in prices, which might give policymakers some pause for thought on interest rate cuts."

Independent family brewer and pub company Shepherd Neame has signed a new multi-year pouring rights partnership deal with EFL League Two club Gillingham FC. The Faversham-based brewer, which has 300 pubs and hotels across Kent, London and the South East, has been chosen as the official provider of beer, cider, wines, spirits and soft drinks at Gillingham's Priestfield Stadium. The partnership will begin on Saturday (July 13) when ‘The Gills’ take on Millwall FC in a pre-season friendly, with the following Shepherd Neame brands available on draught for supporters to enjoy around the stadium: Spitfire Lager, Whitstable Bay Pale Ale, Whitstable Bay Black Stout, Bear Island East Coast Pale Ale, Hurlimann, Singha, Noughty Bear 0.5% IPA and Orchard View cider. Shepherd Neame Chief Executive Jonathan Neame said: “We take pride on being at the heart of our communities, so we are delighted to announce our new partnership with Gillingham Football Club. The Gills are a great Kent club with a rich heritage, and we look forward to working with them and celebrating their achievements during the coming years.” Gillingham FC's Owner and Chairman Brad Galinson said: “This is a special one for us. The oldest brewer in Britain partnering with The Gills, just up the road! We are a match made for each other. Cheers!”

Check out the short film that showcases the Family Business of the Year Awards 2024, the thoughts of Paul Andrews, Founder and CEO of Family Business United who organise these awards and some insights from people present on the evening. You can see a full list of all the winners of the 2024 Family Business of the Year Awards here

The volume of new corporate restructuring mandates is set to continue rising over the next two years as distressed companies grapple with geopolitical uncertainty, tightening interest rates, and new regulatory challenges, according to new research commissioned by CSC, the world’s leading provider of global business administration and compliance solutions. Key Findings: Over 80% of industry experts expect volume of restructurings to continue rising Regulations favouring liquidation over rehabilitation seen as biggest challenge, with survival further hampered by inexperienced management teams and rising interest rates North America and Europe experiencing significant restructuring CSC’s study, Global Restructuring Trends in 2024: Navigating the Opportunities and Challenges, reveals that the overwhelming majority (83%) of sector professionals expect to see the volume of restructuring mandates grow significantly or modestly over the next two years, with a quarter (25%) predicting a significant increase. CSC commissioned research among 150 independent senior executives in the global financial services, legal, private credit, and private debt sectors to shed new light on what’s driving the rise in global restructurings, as well as challenges facing the industry, and key regional differences. “The acceleration in global restructurings builds on the rise we’ve seen over the past 12-24 months. In the UK, for example, there were more than 25,000 registered company insolvencies in 2023, the most for 30 years,” says Michelle Dreyer, managing director of CSC’s Global Restructuring Practice. “We’re seeing a number of companies that took on a considerable amount of debt during COVID and are now seeing that debt come due. But as rates are now so much higher, they can’t just go to their lender or a different lender and refinance,” Dreyer adds. “Some restructurings are actually companies that probably should have filed in 2020, but because they were so bolstered by the cheap money in the market, they’ve been able to hold out until now. We're now seeing the aftermath of all that inexpensive money.” Two-thirds (65%) of industry experts said the biggest challenge to restructuring distressed companies was overcoming regulatory hurdles, which at times favours liquidation rather than rehabilitation. Other key challenges are inexperienced management teams (cited by 55% of respondents), which are unaccustomed to the transition from normal company operations to a very different and complex bankruptcy environment. Some 40% of respondents highlighted rising interest rates as a major driver in the restructuring market. “Many individuals in management have little or no experience in dealing with the challenges of a systemic downturn,” adds Dreyer. “Management teams often have a difficult time transitioning from normal company operations to what is needed in a bankruptcy proceeding, meaning that the support of experienced providers who can move quickly to assist them becomes hugely valuable.” CSC’s study identified North America and Europe as the two regions witnessing the most significant volumes of restructuring activity. Over 40% of those surveyed selected these geographies, with their mature regulatory frameworks making them attractive to companies from beyond their own borders. “Regulatory changes can also have a positive impact on restructuring and make certain jurisdictions more attractive, resulting in the high use of COMI shifts,” says Dreyer. “Only a very small minority said they use just one independent external vendor during restructuring processes, highlighting the difficulty of finding a one-stop-shop during what are exceptional times for management teams. At CSC, we provide expertise from highly experienced professionals across a variety of products and a truly joined-up, global cross-border service.”