For the first time, Brand Finance’s list has expanded to cover the continent’s 500 most valuable brands, allowing comparisons to the world’s two other main economies – the United States and China. The United States is in a league of its own, with its top 500 companies having a total brand worth of €3.40 trillion. While Europe comes in second place, the impact of the COVID-19 pandemic has undermined its standing and China is quickly catching up, with its top 500 brands totaling €1.65 trillion in brand value.

The Coronavirus has decimated Europe and the rest of the world, and the impact on the continent’s leading brands cannot be overstated, with the overall brand value of the top 500 rankings dropping 10% year on year. The epidemic has put Europe’s leading companies to the test; some have genuinely flourished and benefited as customers’ behaviors have radically changed. In addition to measuring overall brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance.

Ferrari Impact as Europe’s Strongest Brand

According to these criteria, Ferrari is Europe’s strongest brand. The brand responded to the epidemic in a consistent way, initially shutting down production and then restarting with an emphasis on providing a safe working environment. This reduced disturbance whilst still reinforcing the brand’s reputation as a high-quality and responsible company. In line with this, Ferrari ranks high for reputation in our Global Brand Equity Monitor study, particularly in Western Europe (in the top 3 of all brands researched in France, Italy, and the UK). Ferrari remains a highly desired brand, albeit aspirational rather than accessible for many.

Alongside revenue forecasts, brand strength is a crucial driver of brand value. As Ferrari’s brand strength maintained its rating, its brand value dropped only slightly, down 4% to €7.9 billion. For years, Ferrari has utilized merchandise to support brand awareness and diversify revenue streams and is now taking steps to preserve the exclusivity of the brand, planning to reduce current licensing agreements by 50% and eliminate 30% of product categories.

Automobiles speed as Europe’s strongest sector

Automobiles are the most valuable sector across the continent, with the 27 brands that feature in the Brand Finance Europe 500 2021 ranking accounting for 14% of the total brand value (€237.7 billion). German brands still command the auto industry across Europe, with the seven brands represented totaling an impressive €171.5 billion or three-quarters of the sector’s total. Mercedes-Benz once again leads the pack as the most valuable brand in Europe, with a brand value of €49.6 billion. Volkswagen (down 1% to €40.0 billion), BMW (down 6% to €34.4 billion), and Porsche (down 5% to €29.2 billion) all claim places in the top 10 in 3rd, 5th, and 6th respectively.

Despite keeping its position at the top, Mercedes-Benz has seen its brand value fall by 16% this year. Most conventional vehicle manufacturers, including Mercedes, have had a rough year, with sales affected by COVID-19. The legendary German automaker also failed to develop a cohesive electric mobility strategy and express a clear vision for its electric vehicle models.

Volkswagen has yielded better results, with its brand value dropping by only 1%. The brand has maintained its focus on its ‘New Volkswagen’ strategy, which has been regarded as a new era for the brand, as well as its TOGETHER 2025+ vision, with the eventual goal of selling 50 distinct fully-electric cars and another 30 plug-in hybrid choices.

The retail sector posts brand value growth

Bucking the trend across Europe’s largest industries, the retail sector has recorded a 4% uptick in cumulative brand value. It is the third most valuable sector, behind autos and banking, with the 49 brands that feature accounting for 9% of the total brand value.

Unsurprisingly, various types of retailers have been impacted by the pandemic differently, as consumer habits have been forced to change. Notably, delivery apps and e-commerce platforms are among the fastest growers in the ranking this year. Delivery apps have benefited from the displacement of hospitality spend, where demand for quality food and small indulgences cannot be fulfilled by lockdown-hit restaurants and bars, with consumers turning to takeaways.

Germany’s Delivery Hero is the fastest-growing brand in the ranking, following an impressive 148% brand value growth to €3.2 billion. Similarly, Just Eat is the second-fastest-growing brand, up 112% to €2.5 billion.

Nevertheless, brick-and-mortar retailers IKEA (down 13% to €15.3 billion), Aldi, and Lidl still claim the podium for the sector’s most valuable brands. The German supermarket rivals have posted contrasting results, however, with Aldi recording a 2% increase in brand value and Lidl a 14% decrease.

Aldi (brand value €13.2 billion) has embarked on a foray into the online retail space, successfully pivoting its offering in the face of the pandemic. The same strategy has not been undertaken by Lidl (brand value €9.6 billion), with the CEO of the UK arm, Christian Härtnagel, arguing the pandemic has artificially inflated demand for online shopping and that the costs are simply too high.

With the nation’s 65 brands making up 25% of the total brand value in the ranking, Germany is well ahead of the pack. France sits in second, with 91 brands featuring and their brand value equating to 20% of the total. Orange (down 1% to €16.3 billion), Total (down 26% to €15.4 billion), and AXA (up 1% to €14.8 billion) are the top three most valuable French brands, claiming 13th, 15th, and 19th spots, respectively. Orange has continued its focus on the deployment of 5G, which as of the beginning of 2021, is present in 160 cities.

Is Brexit putting the United Kingdom upon on combative?

In spite of having the most brands represented, the United Kingdom is the only major economy to lose companies from the ranking this year, with nine names dropping out. The true impact of Britain’s official withdrawal from the European Union in January 2020 is unknown, especially considering the previous year’s economic insecurity.

A total of 334 brands, or over two-thirds of the top 500, are from the EU, a figure that has decreased significantly since the UK’s departure. There are just 22 brands from Central and Eastern Europe represented in total. The bulk of these brands are from Russia, which accounts for 2% of the overall brand value in the list.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Europe’s Top 500 Companies: Brand Finance Reveals Auto Mobile Brands Dominate Europe appeared first on OpenBusinessCouncil Directory.

With many European nations now easing out of lockdown, e-Residency, the Republic of Estonia’s digital ID scheme, today announces results from its survey into the impact of the coronavirus pandemic on businesses. E-Residency polled 1,500 business owners, freelancers and e-Residents, and found that almost half (46%) have successfully pivoted their business or found new opportunities since the start of the pandemic. Almost half (48%) said it’s business as usual.

Despite the UK economy underperforming in recent months, the UK received 30% of all foreign direct investment into the European tech sector last year, setting up the economy for an increasingly digital post-coronavirus economy. E-Residency’s research found that almost a third of businesses (29%) said that the general economic turmoil caused by coronavirus is the biggest obstacle they are facing currently, whereas a quarter (25%) said their biggest concern was decreasing revenues due to the pandemic. On a scale of 1 to 10, around half of respondents ranked the impact of coronavirus on their business to be at an 8 or higher.

E-Residency is directly supporting the evolution of the digital economy in the UK by offering borderless working and giving UK businesses the opportunity to remain EU companies through becoming an e-Resident of Estonia. Their research has indicated that the pandemic has driven more demand towards becoming an e-Resident, with almost half of respondents (48%) saying that they were more likely to apply for e-Residency because of the coronavirus outbreak, due to the benefits of being more integrated into the digital economy. The majority of those who have not yet applied for e-Residency cite that they are still working on their business plans and ideas before applying (53%), as opposed to almost a quarter (24%) who said that they have postponed plans due to coronavirus. These findings are unsurprising given that worldwide lockdowns may have forced entrepreneurs to re-evaluate their existing business plans.

Siim Sikkut, the CIO of Estonia and co-founder of e-Residency, said: “The coronavirus pandemic will make the global economy even more reliant on digital services and solutions. Estonian digital services, like e-Residency, are at the forefront of this evolving digital economy. Estonia is a watermark case in digital transformation having a real impact on how society can handle even in times of crisis and work, do business, study and more all from wherever you are in the world. We believe that this crisis will be an opportunity for other countries to integrate digital governance and services into their societies, to increase overall economic resilience both during and after the pandemic.”

Ott Vatter, Managing Director of e-Residency, said: “There is certainly a dark cloud of uncertainty hanging over businesses at present, but there is a ray of sunlight. Our new research shows that businesses are being proactive and adapting to these new economic circumstances, and they are embracing digital services like never before. We believe that digital ID services like e-Residency could be an easy way for companies to integrate into a digital ecosystem, and by becoming an e-Resident those companies who have been hit hard by the pandemic have an opportunity to grow into markets across the EU in which they may not have had a presence in. This is especially the case for companies in locations that are still restricted by lockdowns like the UK.”

Vicky Brock is an e-Resident and the founder of Vistalworks, a start-up that has developed consumer protection software. She said: “E-Residency has been instrumental in helping me expand my business into the European market. If we weren’t e-Residents, we would have had to set up a physical presence in Europe, which would have been impossible with coronavirus lockdowns throughout Europe, and would have been extremely costly. We’re proud to be an e-Resident and are looking forward to all the opportunities it will enable for us in the future.”

E-Residency’s research also made the following findings:

•52% said provide information about potential economic relief measures

•29% said help marketing their product or services

•17% said share tips about working from home and running a business remotely

•15% said 1:1 business consultations

•61% said to start a location independent company registered in Estonia

•19% said because they are a fan of the Estonian digital society

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Half Of Businesses Successfully Pivoting Their Business During Pandemic appeared first on OpenBusinessCouncil Directory.

The services sector, proximately being responsible for 80% of the UK economy, which in fact has been largely absent from UK-EU trade negotiations; but in did, reduce access to the EU market will profoundly impact businesses across the country, a new report by academic think tank UK in a Changing Europe finds.

The report, Services and Brexit, raises fundamental questions about the economic price the government seems willing to pay through decreased single market access to ‘take back control’ over the rules and regulations shaping the services sector.

The Governments of both Theresa May and Boris Johnson have paid little attention to the services sector in the Brexit negotiations, despite the fact that it accounts for some 30m jobs.

The EU’s single market is the primary destination for UK services exports. The UK runs a trade surplus with the EU and leaving the single market will have a profound effect on tradeable services.

The UK played a central role in facilitating enhanced trade in services within the EU and the single market enables greater cross border services trade than is typical of free trade agreements.

Trade deals typically have not been able to enable services trade to nearly the same extent as they do for trade in goods. As a result, strategically important sectors in the UK, including financial services, will face new barriers to selling into the EU market from 1 January 2021.

Even with a deal, services will suffer. Without one, services exporters will face significant barriers as WTO rules are much weaker for services than goods. The hugely important financial services sector will depend on a unilateral EU decision on equivalence, which can be revoked at short notice.

There is no guarantee that a trade deal will be secured on services given the distance between the negotiating positions of the two sides. Whilst the UK emphasises the need for regulatory autonomy, the EU insists on conditions to remove the risk it perceives of regulatory competition from the UK.

The services sector, including financial, health, education and road haulage, is highly dependent on EU migrant workers  When free movement ends and the government’s new post-migration proposals take effect, there may be  staff shortages in sectors which rely on workers who will not meet the salary thresholds proposed within  the new scheme.

The current Covid-19 crisis is also impacting the services sector. As a result, many businesses may may prove unviable. The combined impact of Brexit and Covid will significantly reshape the UK’s economy – regionally and nationally.

Professor Anand Menon, director of the UK in a Changing Europe, said: “It is worrying that the biggest sector in the UK economy – accounting for more than 80% of it – has been the subject of so little focus in the UK-EU negotiations.

“This serves to underline the largely political nature of the Government’s Brexit priorities, focussed on regulatory autonomy rather than any economic implications of this.”

Professor Sarah Hall, senior fellow of the UK in a Changing Europe, said: “Given the UK’s reliance on services, the government faces a key question in the current negotiations: what economic price, in terms of declining single market access, is it willing to pay to ‘take back control’ on services regulation? How this question is answered will be critical in shaping UK services post covid and post Brexit.”

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Absent services sector in UK-EU negotiations: New Academic Report Discovers appeared first on OpenBusinessCouncil Directory.

Nearly three quarters (74 percent) of UK recruiters believe skills shortages will be their top hiring challenge for this year, followed by getting employers to increase candidate pay rates (42 percent), and reskilling workers to meet client demands (26 percent).

According to Bullhorn’s 2020 Global Recruitment Insights and Data (GRID), a survey of more than 2,000 global recruitment professionals, nearly half (46 percent) believe the talent shortage in the UK is worse now than it was five years ago.

The findings follow the launch of The World Economic Forum’s Reskilling Revolution, an initiative to provide one billion people with better education, skills, and jobs by 2030. The majority (80 percent) of UK recruiters agree that reskilling candidates is an effective way to address talent shortages. Three quarters (75 percent) also agreed that employers must accelerate pay increases, to compete for qualified candidates.

Peter Linas, Bullhorn’s Executive Vice President of Corporate Development and International, commented: “The talent shortage in the UK is getting worse, but there are ways that recruiters can help tackle it. Of course, increasing pay will attract better candidates, but reskilling employees is one of the biggest opportunities in recruitment right now. Recruiters are best positioned to identify emerging skills and competencies, and guide businesses that are struggling to get to grips with how job roles are changing, and how to find the talent they need.”

The importance of diversity is increasing

More than two thirds (68 percent) believe that diverse organisations are more effective, representing an eight percent uptick from last year. It seems this belief is shared by their clients, too – over half (54 percent) of recruiters said they have clients that require diverse candidate shortlists. More specifically, recruitment businesses specialising in sales and marketing were considerably more likely (65 percent) to receive diversity requests than those in healthcare (37 percent). Unfortunately, nearly half (49 percent) said that there’s a shortage of diverse candidates in the talent pool and over a quarter (27 percent) said they’ve experienced discrimination in their own career in recruitment.

Linas continued: “Both companies and recruiters are responsible for creating a more diverse workforce, but technology has a role to play, too. The right recruitment technology can automate CV parsing to identify candidates that have the qualifications, experience or skills needed, without considering their background. This means it can put candidates forward who might otherwise not make the cut” said Linas.

The role of technology

Despite the abundance of recruitment technology available, only 12 percent have fully adopted it. By comparison, more than a fifth (22 percent) are barely using their technology at all. When asked what the top obstacle to implementing technology was, the most common response was that the team doesn’t see the value in it (29 percent) followed by limited training resources (16 percent). However, nearly all agree that digital transformation could help their business (85 percent) and that firms which fail to leverage the power of process automation risk falling behind the competition (88 percent).

“It is worrying that recruiters aren’t fully embracing the technology available to them, as it can help with the exact problems recruiters are currently facing – talent shortages, salary expectations, and diversity quotas. The right technology can help recruiters source talent in unexpected places and gather salary information. If you’re not given the right training, continue to ask for it or go to a competitor – no recruiter can afford to be without it,” Linas said.

Political and economic challenges

Nearly three quarters (73 percent) cited economic uncertainty as their top macroeconomic challenge for the year, and more than half (52 percent) expect a recession in the next 12 months, a significant increase from under a third (30 percent) last year. However, some are still cautiously optimistic about what 2020 may hold: over two thirds (69 percent) still expect to increase revenue in the year ahead. In addition, most (72 percent) say globalisation and the increased mobility of talent is an opportunity for their business.

“Brexit has caused a lot of uncertainty, so it is reassuring to see that recruiters expect an increase in revenue. Recruiters have a significant role to play in uncertain times – they can provide candidates and clients with stability and certainty and can reassure them of the pipeline of talent coming in. As long as they can use the resources offered to them, recruiters are in a great position for this year,” Linas concluded.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Talent Shortage: More Than Half of UK Recruiters Expect A Recession appeared first on OpenBusinessCouncil Directory.

By Ina Iteva, solicitor at Gherson Solicitors

In a turbulent Brexit reality, immigration is a sizzling topic. The already mindboggling array of UK immigration rules, regulations and legislation continue to enjoy special attention from Parliament and to endure a succession of (some might say traumatic) changes to set the ground for the fabled new immigration system.

In March 2019 we were introduced to the Innovator visa, a route into the UK market reserved for a very specific candidate – the somewhat experienced business person, who already has a great idea, some capital to cultivate it, and the enthusiasm to tackle the UK market.

The Innovator category has not benefited from much positive publicity, which this author considers unjust. The route has been criticised for requiring Innovators to dedicate themselves to the business (as additional employment is not permitted), for limiting applicants with the introduction of mandatory business endorsement, and for offering fewer incentives to both applicants and endorsing bodies as a result. As a result there were only 2 successful applications in the category’s first three months of existence. Bad press and Brexit-related investment sluggishness must be behind this as we believe the category opens up ample opportunity for the Innovator’s taking and this is why.

The benefits of endorsement

This is not a new concept in the UK immigration system, previously used in the graduate entrepreneurial context. Simply put, a business idea must be given a stamp of pre-approval by a recognised organisation (in this case business accelerators, seed competitions and government agencies) before the individual behind the idea can apply for a visa as an Innovator. Endorsing bodies apply various criteria in determining the prospects of a business idea but the current list of approved endorsers offers wide sector coverage (including medical, engineering, fin-tech, social welfare, education, corporate innovation to cyber security, as well as those with no sector specific approach, and instead assess applications on a case-by-case basis) which is likely to suit most emerging business.

The concept of endorsement comes into play to offer emerging businesses a helping hand in the face of a market-strong and savvy partner. Getting endorsed creates opportunities for increased financial security and access to sector-specific acumen, and strengthens individual standing before the visa and immigration authorities.

General criteria

With the introduction of endorsement business experts, rather than the Home Office, will assess the potential of business ideas. This should provide the Innovator with further reassurance that their business has a bright future in the UK the same as skilled workers from overseas.

There is guidance for endorsers as to what they should be looking for:

• The business must be ‘new’ in that it meets “new or existing market needs and/or creates a competitive advantage” (innovative);
• The applicant has the requisite skills, experience, relevant knowledge, and market awareness required for the business (viable);
• The business must have the potential for job creation and growth into UK national, and ideally international markets (scalability).

These overreaching criteria should assist an Innovator to build a strong documentary basis for a credible business proposal. They will also serve as firm indicators for individual applicants when preparing business plans and pitching to an endorsing body.

Smaller investment – smaller risk

The Innovator visa route requires a relatively small investment of £50,000 per individual applicant, which is a fraction of what was previously required of entrepreneurs. To top this off, there is plenty of newly-introduced flexibility for sourcing capital, including a third-party individual, the endorsing body, or an existing UK or overseas organisation.

A fast route to settlement

The most successful Innovators should be able to apply for Indefinite Leave to Remain (become permanently resident in the UK) in just three years, compared to a minimum of five years in other comparable routes.

Extension options also benefit from flexibility, recognising that the route to success in business is not always a straight line.

The category retains many of the peripheral requirements for individuals, such as good character and English language skills, which apply across the board, so there is little surprise here, making the option no less attractive than any other. All requirements are described in a simple and accessible way which makes it much easier to navigate.

Finally, as this is a new category, much effort has been invested in making the route more attractive. This is evidenced by the most recent update to the list of endorsing bodies on 25 October 2019 to reflect demand from additional sectors.

These are only some of the reasons why we believe the Innovator visa route has great potential to become a favourite as it offers a comparatively flexible option to talented business-driven innovators at a reduced economic risk. We are reassured by the government’s and endorsing bodies’ commitment to what the route represents and anticipate it will become a hit strategy for stimulating business growth once the stigma of Brexit dissipates.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Innovator Visas – Debunking The Myth appeared first on OpenBusinessCouncil Directory.

Better amenities, talent pools, tax breaks, affordable real estate and increased odds of success are just a few of the reasons businesses choose to relocate. A new address has the potential to improve profitability, provide access to new markets, increase employee happiness and even lower the overall costs of doing business.

With Brexit uncertainty in the UK, a survey by Instant Offices had found 28% of businesses are gearing up for relocation as they identify opportunities both in and outside of the EU, putting a possible move on the cards for many workers in the UK. Specifically, research also found the tech and finance sectors are under the most pressure to offer relocation opportunities to top talent or risk losing them.

However, in addition to logistics, moving costs and operational disruption, a lack of an effective relocation strategy can also increase the risk of losing valuable employees. Backed up with research, Lucinda Pullinger, Global Head of HR at Instant Offices gives a breakdown on how business owners can retain their most valuable talent during their plans to relocate.

What Encourages Employees to Relocate?

According to a study by YouGov, geography plays a major role in the willingness of talent to relocate, with more workers likely to move to a location if it is relatively close.

Fortunately, top talent is on board, and most of the millennial and Gen Z workforce say financial incentives are not as important as experience and cultural understanding, with 33% saying they would likely leave a company if relocation opportunities weren’t offered as an option.

UK employees rank the following cities as destinations they would most likely relocate to for work:

1. Cambridge
2. Brighton
3. Edinburgh
4. Bristol
5. Manchester

With Cambridge shown as the top destination that employees are most likely to relocate for work, a report by Bidwells also indicates Cambridgeshire remains a magnet for Science and Technology companies that are looking beyond the current Brexit Uncertainty.

When it comes to crossing borders, Sourcing Focus, one of the largest relocation surveys, covered 28,000 employers across 27 countries. The survey revealed that 78% of people are willing to relocate within their national borders or abroad for increased pay, to advance their careers or to learn another language.

• Retaining Talent During a Relocation

Finding and keeping top talent is crucial for business success, so whether moving one city away or setting off abroad, there are ways to retain your top workers during a big move.

• Offer a Relocation Package

Replacing an employee can cost up to six times their salary, on average, in recruiting and training expenses, and impact morale and overall productivity, according to research by Accounts and Legal. If aiming to retain talent, relocation packages can be negotiated and may include things like assistance with moving costs, legal fees, travel costs or temporary accommodation. In the UK, some relocation costs up to £8,000 are exempt from reporting and paying tax and national insurance, according to Gov.UK.

• Support the Transition

Whether by helping financially or curating a list of resources to assist with a stress-free move, ease the concerns of your talent by providing a clear, step-by-step road map of what the move entails, what it means for their career and how the business is willing to assist.

• Encourage Flexibility

Support employees who have loose ends to tie up and agree on a realistic time frame for moving. By introducing flexible hours and providing an agile work environment, employees can ease into a job in a new location while balancing the act of settling into a new location.

• Consider Remote Work

According to OddsMonkey, Business owners predict around 50% of the UK workforce will be working remotely by 2020. With the growth of technology and the increase in flexible office space and co-working options in major cities around the world, your workforce can connect from anywhere.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Over A Quarter Of Businesses Plan To Relocate Outside The UK appeared first on OpenBusinessCouncil Directory.

With Brexit one month away, the microscope has been placed on businesses and investors to investigate how the UK economy will fare outside of the European Union. With the challenges and opportunities that Brexit may present to us, are we utilizing our full armoury of internationally-facing business leaders and investors? A funding gap between businesses run by men and those run by women clearly does not reflect the equality needed to drive forward the private sector. On the 2019 International Women’s Day, the trade association for EIS, the Enterprise Investment Scheme Association and alternative finance house IW Capital have unveiled a nationally representative report dissecting the inequality of the investment sector.

Today’s index reiterates a study conducted by the UK Business Angels Association (UKBAA) which showed the disparity between the potential investment available for men and women. It found that over half (54%) of female angel investors had backed at least one female-founded business whilst only a small minority of male investors had done the same. This is worsened by the finding that men are three times more likely to have greater than £250,000 of investible assets available than women (9% of men vs 3% of women).

Key Statistics  

• Men are three times more likely than women to have over £250,000 of investible assets available
• 54% of women investors back female-founded businesses
• Only 1% of Venture Capital funding goes to wholly women led businesses
• Fewer than one in five small and medium-sized enterprises in the U.K. are led by women
• Two-thirds of women felt they had not been taken seriously by potential investors when raising money for new ventures
• Just 9% of U.K. start-up funding goes to women-run businesses

Luke Davis, CEO and Founder of IW Capital – commented on the findings: “Optimum productivity across our private sector can only be secured by utilising the full capacity of this nation’s diverse talent pool. Failing to do so will of course impede the growth and success of our economy, with up to 50% of the potential and subsequent productivity being restricted.”

The CEO also pointed out that the SME arena contributed £1.9 trillion to the UK’s economy in 2017 and so making sure that it has the widest possible pool of talent to draw from is vital. As the backbone of the private sector, they will be a huge factor in determining the success of Brexit in March and onwards. International Women’s Day sheds light on the need to encourage investment into female-founded businesses which is clearly something that must be improved upon through legislation as well as fostering an environment in which women feel that they have the support and resources available to start businesses.

Likewise, Mark Brownridge, Director General of the Enterprise Investment Scheme Association, commented in the same vine: “On International Women’s Day, the Enterprise Investment Scheme Association, is keen to assist anyone who wants to get their business off the ground, find investment, or even become an investor. The business landscape is changing, and while the research does not paint a wholly positive picture for female investment, we are committed to changing this and giving everyone the opportunity to receive the investment they need, or become an investor themselves, regardless of gender.”

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post International Women’s Day: Will the Murky History of Gender Bias Continue in a Post-Brexit Future? appeared first on OpenBusinessCouncil Directory.

Brexit has undeniably had a negative impact on the household energy bills with research finding that a no-deal Brexit could cost the UK £2.2 billion every year as the network connecting the UK’s electricity supply with the EU would no longer function as effectively.

The deadline approaches and all scenarios are still possible. Brexit uncertainty has reached top levels with the negotiations on a stalemate: the EU has ruled out any chance of renegotiate the Irish backstop while the UK parliament still argues what kind of Brexit they are seeking, two years after the Referendum took place. Recently, we have seen how the pound slipped from its twelve month high against the euro. This announcement is the third occasion where, on the eve of an announcement, Theresa May’s Brexit negotiations have caused a dramatic shift in the value of the pound and, with experts unable to predict which way the pound’s value will sway, currency buyers and holidaymakers have been left reeling.

In the meanwhile, from the energy supply perspective, contingency plans have started to take shape from businesses and the government alike to deal with any outcome, though they all share the same principle, they will be costly and, mostly, they will be undesired extreme measures. Even more worryingly is the fact that the Brexit bill will utterly fall over the citizens’ shoulders.

Jane Lucy, CEO and founder of Labrador is of the opinion:  “It is undeniable that Brexit has consumed the news agenda for the past two years. The political landscape has been in a consistent state of unrest as we have tried to assess the impact that our exit will have on every industry throughout the UK. However, whilst the focus has been on the effect on large industries, we have somewhat neglected the repercussions that leaving the EU will have on our personal finances. Energy suppliers and regulators need to be forthright to their customers now more than ever about the impact that Brexit will have on energy bills.”

Due to the increasing realty of a no-deal Brexit, it is imperative to assess the cost that exit from the EU will have on the bills. Currently the EU supplies 5% of the UK’s electricity and 12% of gas, upon the exit, Brexit is set to further drive up energy bills due to increased tariffs on importing gas and electricity across the Channel.

“The EU energy market is one of the most integrated markets across the continent and it is undeniable that the public deserves assurances as to the impact that Brexit will pose. Whilst the end result is still in debate, it is imperative that we start to consider how we can save money on our energy bills. At The Labrador, we use innovative technology to ensure that our customers are always on the cheapest tariffs, saving our customers up to £537 per year,” concluded Jane Lucy.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Brexit: No-deal Could End Up Costing Brits An Extra £2.2bn In the Energy Bill appeared first on OpenBusinessCouncil Directory.

The directors of virtually every listed UK company face major liability risks for failing to prepare adequately for Brexit, especially if there is a ‘No Deal’ outcome, according to Mactavish, the leading expert on commercial insurance governance and disputes.

Mactavish believes UK directors have massively overlooked these new liabilities, which could leave them personally exposed to legal actions because of traditional limitations applied to ‘Directors and Officers’ (D&O) insurance cover.

Even within the insurance sector, the Brexit focus has been diverted towards European passporting rights and the operational challenges facing insurers and brokers, Mactavish says.

Critical new insurance risks highlighted by Mactavish as being created by Brexit include:

• Any company suffering a performance dip or interruption following Brexit – which will be virtually every company under ‘No Deal’ – will be liable to major scrutiny of whether their preparations were adequate
• If their preparations compare badly with those of peers, this will give rise to a glut of new D&O actions against board members
• Longer term, the regulatory disruption caused by Brexit will leave large swathes of uncertainty for many years as to the details of new regimes applying on a sector by sector basis. This will exponentially increase the risk of unanticipated regulatory action or censure – a key area of D&O insurance cover

Bruce Hepburn, CEO, Mactavish said: “There are many stories speculating about impending Brexit doom yet a key insurance challenge affecting almost every UK business has stayed under the radar.

“D&O insurance policies are extremely complicated and cover is bound up in a labyrinth of inter-connected policy definitions, policy triggers and cost categories, so that most company directors are far from clear on what they are actually covered for.

“This situation is becoming even harder for insurance buyers to manage in recent months because corporate D&O is one of the first areas of the insurance market to show signs of higher premiums and less flexible terms. What this means in practice is that once claims come in, it is usually too late to make any changes to policies and directors may not be covered.”

Mactavish points out that unless a company’s D&O policy has been specifically reviewed and negotiated, it is unlikely to be reliable because there will likely be far too many exclusions to cover and ‘outs’ for insurers. Policyholders should expect claims to be scrutinised carefully and negotiated aggressively if they spike.

Recent Mactavish research has suggested that as much as 45% of all large/complex insurance claims are disputed.

Mactavish is the UK’s leading expert on insurance governance. It has been operating in the commercial insurance sector for over 15 years.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Brexit: Majority Of UK Company Directors Legally Exposed For Lack of Preparation appeared first on OpenBusinessCouncil Directory.

Healthcare industry professionals around the world have confirmed that the UK will not be as attractive a destination for research and manufacturing after Brexit in the latest survey from GlobalData, a leading data and analytics company.

GlobalData’s latest report, ‘Brexit and the Healthcare Industry – Implications for Pharma, Q3 2018’, reveals that only 23% of healthcare professionals surveyed across the US, UK, and EU thought that the UK would be an attractive destination for healthcare companies to conduct research and manufacturing after Brexit.

However, in the UK confidence has dropped sharply from a high of 48% who said the UK would be an attractive destination in Q1 2018, to a low of 17% who said it would be in the latest Q3 2018 survey. This leaves 83% of UK healthcare professionals who say the country WILL NOT be an attractive destination for healthcare research and manufacturing after Brexit.

Alexandra Annis, MS, Managing Healthcare Analyst at GlobalData, commented,
“Sentiment on this question has potentially been affected by the considerable amount of negative press associated with Brexit’s likely impact on the healthcare sector over the past three months. Stories such as the NHS requiring drug makers to stockpile drugs in preparation for a ‘no-deal’ Brexit and pharma companies like Sanofi and Novartis increasing medicine stockpiles, and AstraZeneca halting UK investments over Brexit uncertainties likely played a part in negatively affecting industry professionals confidence in the UK.”

The report is based on a quarterly survey of participants from the pharmaceutical industry, both within and outside the UK, who were asked about the impact of Brexit on the healthcare sector as well as their evolving sentiment towards Brexit.

The UK pharmaceutical industry is one of the country’s largest and most dynamic sectors, and a major contributor to the economy. As well as being the home to pharmaceutical giants GlaxoSmithKline and AstraZeneca, many other leading international pharmaceutical companies have sizeable operations in the UK.

Annis continues: “The largest difference in attitudes to Brexit is seen in the US when compared to the UK and EU with less than 20% of respondents in the UK and EU viewing the UK as an attractive destination for healthcare research and manufacturing post Brexit, whereas pharma professionals in the US are more optimistic with 38% believing that this will be the case.”

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Healthcare Sector: 83% of Professionals Say The UK Will Not Be Attractive for Research And Manufacturing After Brexit appeared first on OpenBusinessCouncil Directory.