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Top story
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Is Liverpool too exposed to recession?
Liverpool is badly positioned to weather the recession, according to a set of indices released today by think tank Centre for Cities. The city, which came bottom of the social deprivation index, has the highest level of benefit claimants and is one of the slowest growing cities by population, has been flagged up as needing tailored front-line solutions to tackle its problems head on. But Liverpool’s Rodney Holmes, chairman of inward investment and economic development agency The Mersey Partnership, said that there was nothing new in the report. “Yes, there is a recession and yes, there are going to be challenges for our regional economy and every other regional economy in the UK,” he said. “Liverpool’s growth is a national success story – over five years our GVA has risen 27.7 per cent, exceeding that of Greater Manchester, Bristol and Birmingham, and it has been greater than that of the North West. What’s going to be critical in the coming months is that we all ensure we do all we can to support the growth of high-value sectors such as business and professional services, maritime and the knowledge economy.”
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Deals
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In Focus – private equity opportunities
In this week’s edition of his online deals column, In Focus, Insider editor Michael Taylor returns to the theme of private equity and the role it can play in the future of British business. “I’ve been a bit rude about private equity in recent In Focus columns,” he says. “Probably too rude, but the old truism that the smartest investors buy in the down times and sell before the market reaches the top surely creates an unprecedented opportunity for private equity funds of all shapes and sizes.” To find out what more he has to say about private equity and how Simon Walker of the BVCA views his industry, click here. 
Ask The Expert - deals
Our popular online feature Ask the Expert, sponsored by Merrill Datasite, is currently playing host to David Houghton, who
heads the corporate finance team at law firm Brabners Chaffe Street. He
is answering your questions on managing your corporate finance
requirements in a recession, whether it’s making an acquisition,
sourcing private equity funding or seeking growth capital. Last week he
tackled sourcing private equity and bank funding. You can still view his answers here. Later this week he will be answering two more questions so check on Friday.
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Business
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Business award for Hughes
Kate Hughes, managing director of Merseyside Property Auctions (MPA), has been named Young Entrepreneur of the Year at the Northwest Women in Business Awards, with fellow Merseyside entrepreneur Victoria Corcoran of The Small Animal Hotel and Rent-a-bod named as runner-up. The 27-year-old Hughes, from Sefton Park, scooped the Young Entrepreneur of the Year prize out of a shortlist of four, at an awards dinner at The Park Royal Hotel, Warrington, and was also shortlisted by the judging panel in the Business Start Up of the Year category. The awards were hosted by Northwest Women’s Enterprise Forum and supported by the Northwest Regional Development Agency and Bolton Business Ventures.
First birthday honours for Panoramic
Liverpool’s Panoramic restaurant at West Tower is celebrating its first birthday by offering diners the chance to sample some of its signature dishes from the past 12 months. It will be a double celebration for the restaurant with the news of its entry into the Michelin Guide in its first year of business. Panoramic received a three out for five “fork and knives” rating in the guide released last week.
Stan and deliver
Stockport PR and digital creative agency Stan has been retained to handle the PR account for Wirral-based Detectagas following a successful UK launch of a new test kit for carbon monoxide detectors. Stan will coordinate the product’s PR launch into the US, where Detectagas has already secured manufacturing and distribution agreements, and will also help to launch the company’s extended range of health and safety products into both the UK and US markets.
Deloitte predicts social networking boom
Consultancy Deloitte has released its predictions for the Technology, Media and Telecommunications (TMT) sector in 2009 and indicates that hard times may mean aggressive protection of intellectual property. But businesses will also adjust to changing technology. Will Smith, director in the TMT practice at Deloitte, said: “The outlook for technology is challenging but there will be some clear winners. This year’s predictions include 2009 being a breakout year for social networks in businesses.”
Manufacturers feel the crunch
The impact of the recession is being felt sharply among the North West’s 18,200 manufacturing businesses. According to The Manufacturing Institute’s annual North West Business Challenges Survey, 53 per cent of manufacturing businesses expect to reduce staffing levels during 2009 and only 10 per cent plan to recruit. But commitment to continuous improvement remains strong, with companies intending to continue training and developing staff despite economic difficulties. The survey points to a split in optimism; with half of respondents expecting to maintain or increase sales and the other half anticipating falling sales. The top five key concerns reported are: reduced sales, raw materials and energy costs, cashflow, cost of production and reduced profit margins. The survey captured the detailed views of almost 100 manufacturers across the industrial spectrum, from aerospace and engineering, to electronics, food and packaging.
Dutch agreement for Energetix
Energy products developer Energetix, which is based at Capenhurst Technology Park, has signed a commercial agreement with Daalderop, a supplier of heating equipment based in the Netherlands. The agreement requires Daalderop to use all reasonable commercial and technical endeavours sell 30,000 Genlec micro-CHP units for the residential heating markets over the next three years. Daalderop will have the right to produce, develop, manufacture, promote and market a range of its wall-mounted CombiVolt boilers, which incorporate the Genlec micro-CHP unit, principally in the Netherlands and Belgium. This is the first major commercial agreement for the Energetix Genlec micro-CHP product, which generates heat and electricity for households.
Order your Top 500 CD-ROM today
Insider’s new North West Top 500 Companies 2009 CD-ROM will be available from February 2009. Reach new sales leads and promote your business to the most successful and profitable companies in the North West with this reliable and comprehensive business mailing list. As a valued reader of Insider Daily you will also receive a 20 per cent discount if you pre-order online inserting promotional code NW-T500CD-1. The offer is only available until 31 January 2009.
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Property
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Ask the Expert – your property questions
Last week we launched the property version of our popular online feature Ask the Expert and today Mark Rawstron, regional senior director from GVA Grimley, answers your New Year questions on a daunting property market. “The facts are that freehold values have dropped in decentralised locations over the past six to 12 months,” he says. “However, the drop is probably not as dramatic as the media would have you believe and certainly not in line with what has been seen in the residential markets.” To find our what else Mark has to say about property prices, rents and sustainability, click here.
Pochin’s plays it safe
Cheshire property group Pochin’s interim results for the six months to 30 November 2008 show pre-tax profits of £600,000, down from £2.1m in 2007, following write-downs of £2.4m. Turnover fell from £54,4m to £49.9m. Net debt has been reduced to £37.3m with gearing pulled down to 77 per cent from 89 per cent a year earlier. Chairman Richard Files said that all banking facilities have been satisfactorily renewed and said the group is “well-positioned”. An interim dividend of 1.5p was declared.
Riding high
Mike Riding, former managing director and co-founder of Harrow Estates, the property vehicle chaired by Steve Morgan, has joined Trevor Hemmings’ property business Northern Trust to head the land regeneration division. Riding said: “Given the company’s strong financial standing and asset base Northern Trust is ideally situated to take advantage of the current distressed marketplace.”
Balfours wins gateway contract
Construction giant Balfour Beatty has been awarded the £3.4m civil engineering contract to create a new public square as part of the Lime Street Gateway scheme. The project was delayed for several years as Liverpool City Council and English Partnerships struggled to get vacant possession of the retail units underneath the unloved Concourse House, but the scheme won planning permission in early 2008.
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Events
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Dates for your diary this week
The events calendar is not exactly full to bursting in early 2009, but there are still some interesting networking opportunities. Wednesday morning sees the year’s first Knowledge Economy Business Breakfast, from 8am at Liverpool Science Park, with guest speaker Joe Morris, operations director of T J Morris, who will be sharing his thoughts on business in 2009. Thursday lunch time brings Liverpool Chamber members a Platform Lunch at the Hard Days Night Hotel, at which three members will speak for six minutes apiece. And those corporate financiers with interests beyond the Merseyside boundaries will be heading to Insider’s Lancashire Dealmakers 2009 on Thursday night at Ewood Park.
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