More business leaders are prioritising sales of parts of their portfolio this year, indicating that the dealmaking market is likely to rebound after a quieter 2023 – according to research from Deloitte. Findings from Deloitte’s global bi-annual divestitures survey show that 60% of business leaders are assessing their willingness and readiness to sell by undertaking strategic reviews of their portfolios at least twice a year. This is an increase from 54% two years ago. When asked about their expectations over the next 12-18 months, 79% of those surveyed said that they expect to consider at least three divestments. The level of expected activity has almost doubled from the same point in 2022, when the outlook was decidedly gloomier, with only 41% of business leaders expecting the same level of activity in the year ahead. Fewer than 2% had no intention of selling any parts of their business. Almost 65% of leaders said that they had received a higher-than-expected price for assets in their most recent divestiture; a jump from 41% two years ago. Although optimistic, caution should be urged, with 98% of respondents reporting that they had abandoned a sale in the last 12-18 months. The top reason was a change to internal strategy (37%), but external factors such as a lack of buyer interest (35%), changes in the competitive environment (34%), and regulatory challenges (33%) were also factors. Reasons for further future sales differ amongst business leaders. 40% have concerns about the regulatory environment and tax regime in which they operate, 39% anticipate a change in market conditions, 35% cite a business no longer being part of their core business, and 35% will look to divest due to activist shareholders. Jason Caulfield, Partner and Deloitte’s UK head of divestitures, said: “Our survey shows that companies are expecting to make more divestments in the next 12 to 18 months. Many businesses haven’t divested for some time and are in the process of readying themselves to do so. With anticipated interest rate reductions, opportunistic buyers will be waiting in the wings and those who can move now will do so to snap up good deals before valuation expectations reset." “Given continued cost pressures and economic and political uncertainty across a number of markets, businesses should expect more scrutiny from prospective buyers than in recent years. Almost all survey respondents have reported an abandoned divestiture in the last 12-18 months, which shows that, even when there is both sell-side and buy-side appetite, parties will be prepared to take the tough decision to walk away from deals." “To make the most of the divestment opportunities that will emerge from improving market conditions, businesses should review their portfolios now to identify potential divestments and prepare a robust value story that can stand up to heightened scrutiny by potential buyers.”

Allied Vehicles Charitable Trust is proud to provide a donation of £1,000 to Glasgow Rugby League, a volunteer-led community rugby league club with a strong commitment to inclusivity and development. This funding is earmarked specifically for the training and development of the club's Wheelchair Rugby League team, supporting their growth and enhancing their capabilities with new equipment and playing strips. Glasgow Rugby League stands out for its comprehensive approach to the sport, supporting men’s 'Standard' and 'Wheelchair' clubs, with plans to launch 'Underage', and 'Women’s' teams—the latter two being unique initiatives in Scotland. With high operational costs for their facilities, this grant comes at a crucial time, enabling the club to not only maintain its operations but also to host events that promote the sport among young players and support charitable causes. Kris Hendrie, Men's Head Coach at Glasgow Rugby League, expressed his gratitude, stating, "We at Glasgow Rugby League are so grateful for the support from Allied Vehicles. These funds will greatly assist our current setup and significantly boost the wheelchair team in a critical development year. With this grant, we can purchase essential equipment and playing strips for the squad. We are very grateful once again for the support from the team at Allied Vehicles." The contribution from the Allied Vehicles Charitable Trust underscores the Trust's dedication to fostering inclusivity and participation in society for those with disabilities. By supporting Glasgow Rugby League, the Trust aims to encourage more people, regardless of ability, to engage in and enjoy the camaraderie and benefits of sporting activities. David Facenna, Corporate Culture Director at Allied Vehicles, highlighted the alignment of this initiative with the company's core values, saying, "Supporting the Glasgow Rugby League’s wheelchair team, resonates deeply with us at Allied Vehicles." “A huge part of our business is manufacturing wheelchair accessible vehicles which make a real difference to people’s lives, and this donation continues to show our commitment to promoting accessibility and inclusivity in all areas of life, including sports. We're proud to support the development of wheelchair rugby in Glasgow and look forward to seeing the positive impact this will have on the team and the community.”

Two breweries have teamed up to make a ‘supercharged’ version of one of St Austell Brewery’s most famous beers – Proper Job. Sauvin so Good was an idea brewed up by Mark Tranter of Burning Sky Brewery and Georgina Young, brewing director at St Austell Brewery. The pair got chatting about a collaboration at a beer event last year, with Mark heading down to Cornwall from East Sussex to bring the beer to life as part of St Austell Brewery’s Cask Club series. Having thrown a few ideas around about beer styles, they settled on brewing a punchier, super-hoppy version of Proper Job, thanks to Mark’s love of the flagship IPA. Georgina said: “I did think we might be brewing a funky cask sour, but Mark’s admiration for Proper Job ended up being the inspiration for this beer. We have experimented with the classic recipe though. “We have brewed the version of the beer we do for bottle and can and then pepped it up with some Nelson Sauvin, Motueka and lashings of more Chinook. If you love extremely hoppy beers, this is one for you.” “I’m a huge Burning Sky fan. I enjoy Arise and Aurora to name but a few of their cracking beers. It’s exciting to be collaborating with them for our Cask Club series.” Sauvin so Good, a 5.5% ABV New Zealand IPA will have big, punchy tropical fruit flavours including lychees and grapefruit. Burning Sky brewery in East Sussex was a dream made reality by head brewer, Mark, who has a love of punchy hop-forward pale ales and the Belgian beer tradition. Mark said: “Knowing my fondness for Proper Job, George shared a few bits of the recipe with me, and we were both keen to brew a slant on it using New Zealand hops, which we both love. We also used malted spelt, which we use a lot at Burning Sky, and a proper big dry hop." “Having a day at St Austell Brewery was great. Being able to see around the whole brewery and how it was modernised to meet with new marketplace demands was a real treat.” St Austell Brewery’s Cask Club sees a variety of experimental beers brewed in its small batch brewery each year, giving brewers the freedom to innovate. As a result, an exciting programme of limited-edition beers in cask are available in select pubs and its Visitor Centre.

JCB is inspiring the next generation of female engineers as apprentices celebrate the life of pioneering Cheadle astronomer Mary Adela Blagg with a special viewing of the internationally acclaimed ‘Museum of the Moon.’ Female JCB apprentices were invited to ‘Cheadle Moon’ celebrations at the town’s St Giles the Abbot Church for a talk on the leading astronomer, whose ground breaking work mapping the moon saw her become one of the first women admitted into the Royal Astronomical Society. JCB donated £2,000 to help bring the internationally renowned touring art installation to Cheadle. Erin Murphy, who is a fourth year JCB Engineering Degree Apprentice, was one of 10 female apprentices who took part in the visit. She said: “When I was younger, I didn't think engineering was for me because I thought it was for 'boys'. Luckily, I had some great opportunities at school to see how many amazing female role models there are. Being able to view the exhibition and find out more about local lady Mary Adela Blagg's achievements was so inspirational.” Born in 1858 Mary Blagg, who lived her entire life in Cheadle and is buried in St Giles’ churchyard, is one of the most pioneering female astronomers. Her work mapping the moon saw a crater on the moon, Blagg crater, named after her, and in March 2023, a planet was named Maryblagg in her honour. Cheadle Moon was organised by art company OUTSIDE and at its centrepiece was a six-metre diameter moon by artist Luke Jerram. Suspended from the nave of the church the moon was internally lit and features detailed NASA imagery of the lunar surface with surround sound musical compositions created by award winning composer Dan Jones. There are currently 80 female apprentices working across engineering, manufacturing, business, and future technologies at JCB. For more information visit here.

The UKs leading supplier of winter maintenance vehicles, Econ Engineering, has backed the findings of a major national survey which calls for greater funding to be made available for the rescue and repair of Britain’s crumbling roads. Commissioned by the Asphalt Industry Alliance (AIA), this year’s ALARM (Annual Local Authority Road Maintenance) survey highlights the scale of the challenges faced by local authority highway teams as they deal with fundings cuts and freezes. More than 70% of of local authority highway departments in England (including London) and Wales took part in the independent survey, which is used by stakeholders across the sector for tracking, benchmarking and planning purposes. ALARM 2024 data shows that more than half the local road network is reported as having 15 years or less of structural life remaining, and that £16.3 billion is now needed to tackle the backlog of carriageway repairs in England and Wales – the highest figure in 29 years of reporting. Key highlights from the survey report, include: 2m potholes filled – one every 16 seconds. 107,000 miles of local roads with less than 15 years’ structural life remaining. 47% of local roads in good structural condition. A one-time catch-up would take 10 years to complete, costing £16.3bn. The average carriageway budget shortfall per authority is £7.2m. 45% of authorities reported a budget freeze or cut. Last October, the Government announced that £8.3 billion of additional highways maintenance funding would be provided over the next ten years for local road resurfacing and wider maintenance activity on the local highway network. This consists of: £3.3 billion for local authorities in the North West, North East, and Yorkshire and the Humber; £2.2 billion for the West Midlands and East Midlands; and £2.8 billion for the East of England, South East, South West and London. With an 85% share of the winter highways maintenance market, Yorkshire-based Econ provides the vehicles that councils need to ensure our nation’s roads remain open and operational all year round. Compatible with a wide range of chassis cabs from Original Equipment Manufacturers (OEM), each Econ vehicle is a tailored combination of chassis, body and features to suit specific maintenance vehicle needs – including the state-of-the-art QCB (Quick Change Body) which enables Econ vehicles to switch easily between a gritter, caged body or a hot box. In a week which also sees the world’s leading highways associations mark International Road Maintenance Day – an awareness day created to focus attention on the protection of our local road networks – Econ has thrown its support behind the ALARM report calling for urgent action to be taken. Econ Sales Manager, Steve Sinnott, comments: “The statistics highlighted in the recent ALARM survey show an urgent need for investment to catch up with the backlog of maintenance on the nation’s road networks." “Councils need to capitalise on the increased funding and make greater investment in equipment and labour to ensure the public can see the improvements in the highways. While this extra funding is welcomed, it is clear from this report that more needs to be done to give cash-strapped local councils up and down the country the finances they need to rescue our roads." “Long term repairs offer greater value for money and will give the public the confidence they are shouting out for. Equipment is available today from companies such as Econ Engineering to offer this cost-effective long-term road repair solution.” Rick Green, Chair of the Asphalt Industry Alliance, which commissions the ALARM survey, said in his report overview: “Poor road conditions impact on our everyday lives, from the cost and inconvenience of damage to vehicles, to potentially causing accidents and injury to vulnerable road users such as cyclists, some which might prove fatal." “Last autumn the Government acted on repeated calls – including ours – for longer-term, sustained investment with its promise of £8.3 billion additional funding for local roads in England, including London, over the next 11 years. But, with the latest findings of this year’s ALARM survey reporting only 47% of local roads across both England and Wales as being in ‘good’ structural condition, the scale of the challenge is clear." “There’s still a mountain to climb when it comes to fixing our local roads. We need to get to the point where local authority highway engineers can plan and proactively carry out repairs and preventative works in the most timely and efficient way to the greatest benefit of all road users – rather than just having enough money to address immediate and urgent needs.” This year’s ALARM survey is the 29th and received responses from 72% of local authorities in England and Wales. The survey report is available to download by visiting www.asphaltuk.org For more information on Econ, visit www.econ.uk.com/

Award-winning UAE-based facilities management service provider Emrill has launched Emrill Rail, its latest division providing comprehensive solutions tailored to the unique needs of the country’s railway supply industry. Emrill Rail has strategically partnered with Clemtech, a leader and specialist in recruitment and consultancy services for rolling stock and rail sectors, to deliver solutions that meet the evolving needs of clients, including train manufacturers, original equipment manufacturers (OEMs) and the wider supply chain with vested interests in the region. Integrating Emrill's extensive in-house team of highly skilled technicians and engineers with Clemtech’s expertise in supplying experienced rolling stock resources, Emrill Rail will remove the logistical challenges of working in the UAE with cost-effective in-country technical resource solutions with industry-leading service delivery. Headquartered in Dubai, Emrill Rail is committed to elevating standards within the rail sector and is responsible for the strategic deployment of technical resource, ensuring efficient service delivery across all aspects of rolling stock and rail support activities. These will include mechanical, electrical, and plumbing (MEP), heating, ventilation, and air conditioning (HVAC), general engineering, as well as OEM-led specialised activities, such as test and commissioning, installation, modification, overhaul, refurbishment and maintenance. Clemtech, a trusted brand with over 25 years of expertise in providing highly skilled recruitment services for the global rail industry has extensive expertise and working knowledge of the rail sector. Providing both permanent and temporary resource solutions, Clemtech supports new train introduction, maintenance, modification, C4 overhaul and C6 refurbishment of rolling stock vehicles and other associated rail projects, including platform screen doors and digital systems, such as ETCS, Wi-Fi, PIS, OTMR, and CCTV. Emrill Rail will work with OEMs to ensure rolling stock MEP and HVAC systems are optimised, guaranteeing peak performance and efficiency in rail operations. Emrill’s Centre of Excellence, the organisation’s dedicated training facility, will provide support with training programmes specialising in MEP and HVAC services for Emrill Rail employees. Led by industry experts, employees will receive hands-on training through simulation exercises and continuous professional development opportunities, ensuring Emrill Rail's workforce remains at the forefront of innovation and expertise in the rail sector. Stuart Harrison, Emrill’s CEO, said: “Emrill Rail is an important addition to the UAE’s rail industry, as Emrill continues to expand its services to meet the needs of the country’s evolving transportation sector. We are proud to launch Emrill Rail in partnership with Clemtech, who are highly respected worldwide. This collaboration underscores our commitment to delivering world-class solutions tailored specifically to the rail industry, ensuring the same high standards of quality Emrill is proud to provide. Together, we will set new standards of performance and reliability in the rail sector, solidifying our position as leaders in the field.” Harrison concluded: “Emrill Rail stands at the forefront of innovation in our industry, redefining the landscape of accessible rail technical resources with our expertise and commitment to delivering world-class services to clients.” Andrew Clements, Clemtech’s Managing Director, said: “Emrill Rail brings together two great companies with a shared vision and the ability to deliver world-class services to the growing UAE rail sector. By combining rail expertise with trusted in-country services, our global and regional clients can access the local technical skills to support their short or long-term commitments, removing the logistical and economic challenges of deploying in the region, safe in the knowledge they are working with experts with proven track records.” Clements further stated: “Emrill Rail is dedicated to delivering transformational rail resources across the UAE rail industry.”

Owning a business is not for everyone. It involves taking risks, defining strategies, and dedicating countless unpaid hours. When the business is family-owned, it becomes even more complex. In addition to the challenges of entrepreneurship, there are the complexities of having a sibling as a partner or a parent as a boss. Being able to separate the family sphere from the business sphere to achieve business success is key. Taking the company to a more professional level and carefully selecting skilled employees are absolutely vital moves. However, that alone is not enough. In this way, families must ask themselves, especially looking towards future generations: Why do we want to participate in the family business? What is the purpose of staying together? Dr. Victor Frankl, Austrian psychiatrist and Holocaust survivor, in his book "Man's Search for Meaning," mentions that what truly motivates people is the search for meaning in life. People are intrinsically motivated when they find purpose and meaning in their actions. Family enterprises must seek a sense of purpose to stay together so that the difficulties that arise, which indeed will arise, can be overcome with a common goal in mind, a goal that is shared by its members and allows them to fulfil themselves as a family in business. For some families, it is to continue the family legacy, for others, philanthropy, generating wealth for family members, among countless other purposes. Each family must find theirs and then build a future aimed at that purpose. But how do we achieve this? The first step is to create opportunities for dialogue. Establish safe spaces where the family can pause to reflect on how they got there, what challenges they overcame, and what values emerge from those 'family stories' can be a great start to search for the meaning. Families that take the time to think and then BUILD a purpose, where all the family members are involved, where the next generation can envision a future, are more likely to achieve the enduring legacy of the family heritage. And above all, as Frankl also discusses in his work, it is about freedom. We must help families work towards freedom. As long as all members are free to choose their future and express their interests, they can build a family project that is feasible and respectful of the family and its members. About the Author - Jacqueline Schwartz CFBC, TEP is a Family Business Consultant, helping families manage the unique complexities that arise when business is blended with family dynamics. This involves working with the family to learn about their own characteristics and create an environment conducive to long-term business success while preserving family harmony and cohesion. Knowing and implementing business best practices in areas such as corporate governance, succession planning, next-generation leadership, and change management, helps families ensure that the family business is operating effectively and can continue its legacy. Find out more here

EGM Golf is an independent British company who design, manufacture, and supply a complete package of golf driving range equipment. The desire to constantly evolve products is driven from the top by company owner Adrian Yallop who started the business in 1982. Paul Andrews spoke to the second generation, Harvey Yallop, to find out more. As Harvey explains, “It all started back in the 1980’s by my father. His career began in the repair and sales of motorcycles and cars before being approached by a manufacturer of golf equipment. This resulted in them forming a partnership and building the foundations of EGM. The partnership grew, with Dad making the products and in due course he had a vision for the business and took the step to go it alone in 1982.” The business is still based in Suffolk, where today it designs, manufactures and supplies everything needed to run a golf driving range - ball dispensers, ball washers, ball collectors, range mats, utility vehicles and lots more products for the range and outfield. EGM have established a well-respected reputation for the innovative products and services that have been conceived and marketed throughout the years. Be it stylish bay dividers, ball dispensing systems, or even the humble rubber golf tee, all aspects of driving range operation can be addressed with standard or customer-specific EGM equipment. Harvey, like many from the second generation, grew up being immersed in the family business. As he explains, “I spent plenty of time in the business after school and during the school holidays when it was a growing business and there were only four or five multi-talented staff." "Mum and Dad worked tirelessly to ensure success, working late into the night to get things done, and their work ethic is something that remains within the culture of who we are today.” “I also have two half-sisters who now run their own businesses and one half-brother Roy, who looks after the consumables side of the business (such as tees, golf balls, mats etc.). Everyone has worked in the family business at some time over the years. The entrepreneurial gene has certainly been passed on to the next generation, as we enjoy the challenges involved with it all” continues Harvey. For Harvey, the route into the business was an easy one. “I am technically minded, like my dad, and often got involved helping to fix machines. Upon leaving school I took an engineering course and then joined the business, gradually spending time in many areas before focusing more on the daily operations. Nowadays, Dad still enjoys being involved in key business decisions, which we share as a family. Most daily operations are managed by me and our brilliant team.” This is a business that set out on a mission to become the one-stop shop for golf driving ranges, something that they have certainly achieved since the business began back in 1982 and something that they are justifiably proud of. As Harvey continues, “We get involved in new projects from the start, working with architects on designs, as well as consulting and supporting those with existing golf ranges. Our expertise is recognised, and we are excited as to where the future is going. Golf ranges are becoming more inclusive, embracing opportunities to engage more with families and developing social spaces for people to come together and enjoy some golfing fun.” “We are confident that with our experience and ability to innovate, we will always be able to offer a personal service and leading-edge products. We are happy to assist with any project, from planning and installing a ball management operation, to offering technical advice on any aspect of driving range business” adds Harvey. Like all family firms, EGM embraces all the opportunities that come their way and have done since the day the business began. “Dad is an entrepreneur and has worked (and played!) hard all his life” continues Harvey. “We do now work with customers around the world in places as far afield as New Zealand, Madagascar and Mauritius; very different from our original target market – Dad chose the name of European Golf Machinery because he thought it made us sound bigger and would present us with more opportunities!” These opportunities have certainly been evident over the years and the business has continues to grow, employee numbers are now over 20 and there are possible contracts on the horizon in the USA and Australia. They remain a family business at heart and their family values still determine the way that they operate, as Diane Spalding, Office Manager, confirms. “I am not a family member but have worked here for over seven years and am very much made to feel part of the family." "Everyone has an appreciation for the past and understands EGM’s journey from a small one-man band to the prosperous enterprise of today." "The values associated with the early years are still present – we work hard, everyone feels part of something, and the culture is such that everyone feels they have a role to play, a voice in the business and is heard, something that makes life here at EGM special. We care about the business and are all appreciated at the same time.” Harvey agrees, adding that “Being a family business is special and the culture is important to us as a family. We’re continuing to develop and grow, although we face the same challenges as every other business in the UK today. The economic climate continues to present challenges and although golf is seen as an affluent sport by many, it is certainly not recession proof. The social side of golf, its growing appeal to the family market, and the move towards more socially driven golf ranges could be vital to the health of our industry. We’re always keeping an eye on external factors, however our confidence in the sport is very high.” Like many family businesses across the country, searching for talent to help grow the business is, at times, challenging. As Harvey continues, “We’ve recruited several great people over the past couple of years or so. There are certainly fewer applicants than there used to be, but we’ve worked a lot on the internal processes to make it easier for new staff to settle in. I will add that as a manufacturer and a small business where people work very closely together, being able to offer a flexible/hybrid approach is difficult and is something we’re currently working out. Having said that, we’ve been able to find the right people to work for us and to fit within the EGM culture.” Family values are embedded into the culture at EGM and extend way beyond the factory doors. “We work with plenty of other family businesses, as both suppliers and customers, and it is great to work with other businesses that share a similar ethos,” adds Diane. The entrepreneurial spirit that drives this business saw turnover increase during the pandemic and more opportunities to grow the business being identified daily. “We love what we do and have seen growing interest from the hotel and leisure sector, and other businesses that are exploring the feasibility of a driving range business on their land." "We’ve also listened to our valued customers and are subsequently investing in the aftercare and maintenance division; our end goal being to make life easier for busy range operators." "Driving ranges can generate a good return for a relatively low outlay too,” adds Harvey. As a family business that is continuing to evolve, grow into new markets, invest in new machinery, and hire new talent, things are looking very positive. “We are excited about the way the business is going, albeit mindful of the prevailing economic climate, and are pleased to be playing our part in the evolution of golf practice. We’re proud to be known as the go to place for all things associated with driving ranges. We have built a great reputation in the industry and our wish is to enhance this further, as well as offering services across the globe,” concludes Harvey.

Savour the bold tropical flavours of Shepherd Neame’s new beer Rumour Mill (4.3% ABV) this spring. It is the latest beer released by the independent family brewer as part of its popular real ale initiative Cask Club. A juicy IPA, Rumour Mill combines four hops - Mosaic, Amarillo, Jester and Challenger - to create a complex fruity flavour with additional notes of citrus and pine. The pale golden brew is perfect to savour on a spring day with its light, refreshing finish. Its name, and eye-catching pump clip design, was inspired by an historic landmark in Shepherd Neame’s hometown of Faversham, Kent - Chart Gunpowder Mills. First established in 1760, it was the only complete water-powered gunpowder mill in the country and made Faversham an important centre of the explosives industry for many centuries. The mill closed in 1934, when production was moved to Scotland. Brewing Manager Rupert Hodgkins, whose signature features on the beer’s pump clip, said: “Brewing Rumour Mill with a collection of powerful hops has been a fun challenge for the team, using our expertise to ensure a well-balanced flavour profile and aroma, crafting a delicious pint that pairs perfectly with a sunny pub garden." “We’re excited for discerning drinkers to give this flavoursome beer a try!” Shepherd Neame’s Cask Club offers an exciting new range of limited edition innovative cask beers incorporating modern styles and flavours, while also celebrating some seasonal classics. Future ales in the Cask Club programme to look out for over the next few months include Go For Gold and returning favourite Late Red.

An Orkney family business has enjoyed a dramatic increase in sales and social media followers, after one of its products appeared on James Martin’s Saturday Morning, which showcases recipes and products to a range of celebrity guests. The Orkney Gin Company, founded by husband-and-wife team Gary and Andrea Watt, uses a traditional process to distil its spirits, which include gin, vodka and Scotland’s first akvavit. The team hand-picks its base botanicals, distils the spirits slowly up to eight times, and hand-fills and corks its Selkie Folk inspired bottles, which are designed in-house in a nod to Orkney’s history and folklore. Wholesalers make up the majority of The Orkney Gin Company’s customer base, but its products are also sold by Trade, John Lewis, Amazon and other online outlets, as well as its own website. After securing their operating license in 2015, Gary and Andrea initially approached Business Gateway for support in starting-up, and received advice on their business plan and help to secure their first premises. Gary Watt, Co-owner and Distiller at The Orkney Gin Company, said: “We’re passionate about our Orcadian roots and about gin, so we knew we were capable of creating something amazing when we first approached Business Gateway for help to set-up." “We truly thought our business would remain a local one, but we’ve enjoyed steady demand over the years, which snowballed after we won our first World Gin Award.” The business saw a particularly large spike in sales after its Aatta gin, Christmas Old Tom gin and Orkney Akvavit appeared on James Martin’s Saturday Morning programme in late 2023. Gary continued: “We were approached by James and his team at a Country Living Fair in 2022 and couldn’t quite believe it. We are a small-scale family business at heart, so were very proud that someone with James’ profile liked our gin so much.” As well as a sales increase, The Orkney Gin Company has also secured additional trade customers, and has grown its website subscribers and social media following since the programme’s broadcast. The business also saw a sales increase for its Orkney Akvavit. Looking ahead, Gary and Andrea are now turning their attention towards securing larger premises to keep up with product demand, with the overall goal to introduce a visitor centre to make the most of Orkney’s tourism. Gary said: “We would love to open up a visitor centre in Orkney, and will certainly be reaching out to Business Gateway for advice on this next step in our journey. They’ve already signposted us to various Covid Bounce Back funding schemes, which have been so helpful for keeping our operations afloat. “Business Gateway has been a great support to our business operations over the years, so I’ve no doubt their continued support will be valuable as we enter this next chapter.”

The Franklin P. and Arthur W. Perdue Foundation, the philanthropic partner of Perdue Farms, has awarded a $42,500 grant to aid the Bloxom Volunteer Fire Company in the purchase of state-of-the-art emergency response equipment to serve Accomack County. Bloxom Volunteer Fire Department Chief James Bagwell: “We’re grateful to Perdue for this generous gift to replace equipment that was purchased in 1994 and currently doesn’t meet today’s standards. The new equipment — the jaws of life, stabilizing struts and lifting airbags — will be faster, lighter, and safer for our first responders and ensure that we can provide the best care to save lives in our community.” The grant from the Perdue Foundation is part of the company’s Delivering Hope to Our Neighbors® outreach to improve quality of life and build strong communities where Perdue associates live and work. Perdue’s Accomac operations are in the Bloxom VFD’s response area. The 104-year-old Maryland-based company has had operations in Accomack County for more than 50 years. It employs more than 1,500 associates in the county and provides economic impact of nearly $440 million. “At Perdue, we salute those who dedicate themselves to the service of others in our communities,” said Kim Nechay, executive director of the Perdue Foundation. “We appreciate the sacrifice of those men and women representing the Bloxom Volunteer Fire Company and their efforts to keep Virginia’s Eastern Shore and our associates and neighbours safe. Knowing we can depend on Bloxom VFD gives us peace of mind. We’re happy to award this grant to the fire company.”

Families are relying on their business to fund retirement with 83% saying they regard their company as their pension, new research with family-run businesses from the UK’s leading discretionary wealth manager, Investec Wealth & Investment shows. The independent study by the company, which is part of Rathbones Group PLC, with family businesses which have a combined annual turnover of £781 million found more than one in four (26%) expect to fund 50% or more of their retirement spending from their business investment. Shockingly nearly one in 10 (9%) say they do not have or don’t know whether they have a private pension outside of the investment in their business. Around one in 25 (4%) say they didn’t start saving into a pension until they were aged 40 or over. The research found the current generation in charge of family-run businesses do not intend to work until they drop. Almost all (97%) are expected to stop working and being involved in the running of the business by the age of 65. Around 30% questioned, said they expect the current generation to quit before 60. It’s not all bad news on the personal finances of family-run businesses – around 79% questioned, estimate the finances of their senior family members are good or very comprehensive in terms of investment in pensions and ISAs. Around 85% questioned, estimate that less than 50% of their wealth is tied up in the family business, with 21% saying the figure is lower than 25%. Around a third (31%) estimate they have more than £500,000 invested in their private pensions. Analysis shows around 4.8 million UK businesses are family-run – around 86% of all private sector businesses – and they employ up to 13.9 million people while contributing £575 billion to the UK economy. Nadine Collins, Financial Planning Director, at Investec Wealth & Investment (UK) said: “Many families clearly have substantial wealth tied up in their family businesses and it is perfectly understandable that so many rely on that wealth to fund retirement. Many will have neglected pension contributions over the years to understandably ensure the success of their business, resulting in a smaller traditional pension pot or none at all." “There are however huge tax disadvantages to ignoring private pensions and there will be issues about extracting wealth tied up in family businesses to fund retirement when people are no longer working in the business. To have the ability to take advantage of the allowances bestowed to pensions, planning needs to take place at least four to five years in advance of a business exit and businesses need to consider that tax rules may change." “Sourcing professional advice on the best approach to funding retirement and releasing wealth from family-run businesses is important for any family business, given the potential for personal and business finances to become entangled.” For more information visit www.investec.com