Aberdeen:Top Cities for Business

Posted on March 24, 2015

Aberdeen’s Economy, Business Innovation, Jobs and Skills, Industry and Infrastructure

Cities are the UK’s economic engines, as jobs, innovation, and valuable infrastructure are plentiful in urban centres all over the country. But some cities do better than others. The most recent Centre for Cities report has reviewed how the UK’s major cities have fared over the past decade, particularly in terms of economic development, business innovation, infrastructure, and jobs growth. Not surprisingly, analysts at the Centre for Cities found out that Aberdeen is among the country’s top five stand-out cities along with London, Cambridge, Milton Keynes, and Coventry. The Scottish city is now a well-established and dynamic centre of economic growth, and in this post we examine the reasons behind Aberdeen’s remarkable success.

Aberdeen’s economy: a successful model of growth

Local businesses in Aberdeen are clearly driving economic growth, not only in the city itself, but also at regional and national level. For example, a survey published by the local city council revealed that Aberdeen City and Shire companies generate over £68 billion in revenues every year, with almost 80% of that total attributable to enterprises in Aberdeen City itself, accounting for nearly a quarter of Scotland’s total economic output. The Scottish city is ahead of many others when it comes to its GVA per resident levels, which are nearly £62,000 per employee and the third highest in the country.

Read more »

Tagged , , , ,

Office Requirements: Office Supplies

Posted on March 18, 2015

Prime Office Space has compiled a series of guides to help you with all your Office Requirement needs which include Office Planning, Office Equipment, Communications Equipment, Office Furniture, Computer Equipment, Computer Software and Office Supplies.

This week we will be looking at: Office Supplies

Office supplies are mainly all the small, expendable items that every business office needs. The basic office supplies include ballpoint pens, permanent pens, pencils, highlighters, whiteboard markers, paper clips, binder clips, laminators, staplers, hole punchers, office tape, packing tape, scissors, correction tape, rubber bands, paper, notebooks, envelopes (closed and window type, letter size, and manila), postage, business cards, stationery, post-it-notes, and folders. Office supplies may also include higher-cost equipment like desktops, laptops, tablets, mobile phones, printers, fax machines, modems, routers, photocopiers, and cash registers.

When buying office supplies for your business, you should consider your budget. Because you are buying many different kinds of products you may end up paying more for office supplies than estimated in your office budget. Make an analysis to see which office supplies are mostly used, how often you need to reorder and what quantities can satisfy your office needs. Then, go into a contract with your supplier for potential discounts on particular items to avoid increasing costs. You can set a systematic cost-effective ordering schedule with the help of your supplier to spend no more than 4-5% of your budget on office supplies.

It is highly advisable to buy office supplies in bulk. With bulk purchases you save time and money, but you also keep your business on track because employees don’t have to interrupt their workflow to look for replacement items. However, make sure to carefully plan a bulk purchase in order to buy the items you really need. Make a list of the items you use regularly and need to be replaced often and determine how much of each item you need to purchase for a specific time period. Make a list of items, manufacturers and prices to do a cost comparison and purchase good quality, low-cost office supplies from office supply retailers that offer the best value for money. Include online vendors, mail order vendors and warehouse clubs to increase your savings.

It is helpful to understand which items are low-cost in order to avoid paying more for a cheap item only because you buy it from a different manufacturer. Also, compare the rates of suppliers and select one vendor that provides similar products at the lowest cost. In fact, price benchmarking will help you control your spending on office supplies and have a control on the items ordered.

Tagged ,

Cambridge: Top Cities for Business

Posted on March 12, 2015

View of Cambridge's Colleges - Panoramic view of several College buildings in Cambridge, seen from the tower of St. John's CollegeAccording to the British Chamber of Commerce, the UK economy is set to accelerate during 2015, reaching record-high levels of growth in a variety of industry sectors. The positive economic outlook is particularly beneficial to entrepreneurs and job seekers in the country’s most business-friendly cities, such as Cambridge. A recent report published by the Centre for Cities has listed Cambridgeshire’s capital as one of the top cities for business in the United Kingdom. Here’s an overview of the key elements that make Cambridge a successful model for economic development.

A thriving and diversified economy
For several years, Cambridge has invested in creating a diverse and modern economic base, and the efforts seem to be paying off. The 2015 Centre for Cities report looked at the performance of the city’s economy over the past 10 years, highlighting the key developments that have taken place in Cambridge in areas like business innovation, employment, skills, and business infrastructure. For example, between February and October 2014 alone, more than 3,000 new businesses were registered with the Companies House. All in all, Cambridge is now home to over 27,000 businesses, a figure that demonstrates the impressive growth levels recently experienced in the city.

One of the keys to economic development lies in diversification, and Cambridge’s success exemplifies this to perfection. The city is no longer reliant on the education and tourist industries. Over the past decade, high-value and knowledge-intensive industry sectors have boomed in Cambridge, which is now renowned at international level for being a hub for leading high-tech businesses. The most thriving industry sectors include biotech, information technology, software development, pharmaceutical research, nanotechnology, life sciences, and health care. The energy sector is also booming in Cambridge, along with companies involved in the telecommunications and engineering industries. In fact, the Cambridge Cluster Map has shown that the top 1,500 companies in the city generate annual revenues in excess of £13 billion, and they provide employment to more than 57,000 people.

Read more »

Tagged , , , , ,

International Women’s Day

Posted on March 6, 2015

This year, International Women’s Day will be celebrated on Sunday 8 March. This annual event has been observed all over the world since 1911, and it has since become an integral part of the international civil awareness agenda. The event’s objective is to celebrate the value and achievements that women around the world have made in social, political, scientific, and economic areas. International Women’s Day also aims to draw attention to gender equality issues and to dispel the various myths that lead to gender discrimination.

This year, UN Secretary-General Ban Ki-Moon has called for institutions and individuals all over the world to give priority to women’s empowerment. The Secretary-General has highlighted the importance of looking not only at the progress made so far, but also at the gaps that exist in the implementation of the Fourth World Conference on Women, which was held in Beijing in 1995.

Among the key areas of concern defined at that conference the following issues were highlighted:

  • women and the economy
  • women in power and decision-making
  • institutional mechanisms for the advancement of women

In this post we take a look at how the UK has fared in the implementation of corporate and institutional strategies that aim to move towards full gender equality in the workplace.

Women in the British economy: Progress and key achievements

On the occasion of the 2015 International Women’s Day, it is important to review how far women’s rights have progressed in the British context. There are several crucial accomplishments that need to be mentioned in this respect. One of them relates to how British women have contributed to the country’s economy over the past few decades.

Read more »

Tagged , , , , , , , ,

Health and Safety: New Regulations for 2015

Posted on March 3, 2015

The world of health and safety is always adapting, and with 2015 in full swing, now is the time to look at the latest changes. In addition to the simplification of construction site rules, it is now easier for offices to operate their environmental management systems. Not only that, the first energy savings deadline is due at the end of the year, and health and safety fines are set to increase.

Changes to health and safety in construction

While health and safety in construction may not affect many office workers, it can impact those who want to expand their business with new buildings. The number of projects that need to be reported to the HSE will reduce by around 50 percent, as constructors now only need to declare them if they run for 30 days with more than 20 workers, or those that run for more than 500 person days. In addition, both business and domestic clients can appoint a principle designer rather than having a CDM coordinator. Finally, both the need to assess competency and the need to adhere to the approved code of practice have been eliminated, with industry specific guidance replacing the code.

Environmental Guideline Compliance Has Become Easier

It is now easier for businesses to comply with environmental guidelines. The new ISO 14001 revisions strike the right balance between being business savvy and environmentally friendly. Businesses have three years to transfer to the new approach and obtain a certification, but there are benefits to doing this. The guidelines have been designed to improve efficiency, which means there are cuts to the cost of running an office. Business owners that demonstrate they are able to comply with their new guidelines broaden their opportunities, which in turn allows them to make more money. By meeting their legal obligations, business owners are likely to enhance trust amongst those with an interest in their operations, like stakeholders. Finally, adhering to environmental guidelines ultimately means using fewer resources, which is good news for office owners across the UK.

Read more »

Tagged , , ,

Office Requirements: Computer Software

Posted on February 24, 2015

Prime Office Space has compiled a series of guides to help you with all your Office Requirement needs which include Office Planning, Office Equipment, Communications Equipment, Office Furniture, Computer Equipment and Office Supplies.

This week we will be looking at: Computer Software

Computer software programs run on your computer system and help you manage your business’ database and generate useful reports that portray your business’ performance and position in the industry. Software programs are typically purchased from computer retailers or online, with all the necessary documentation (manual, expiration date and warranty), or can be downloaded directly from the Internet and installed on any compatible PC.

Computer software can be classified in three categories: operating system software, utility software, and application software. The operating system software is built-in to the computer and manages the system operation, enabling other software to run properly by interfacing with hardware and with other software. In fact, the operating system software facilitates the communication between the computer processor and the peripherals by performing routine functions as sorting, copying, and merging files and managing the simultaneous operation of multiple peripheral devices. Utility software is either built-in or purchased separately and focuses on the computer’s infrastructure by including all the diagnostics performed for its effective operation. Application software includes mainly database programs, excel spreadsheets, word processors and web browsers and are designed to meet the need of the end user.

Read more »

Manchester Airport for Business Travellers

Posted on February 17, 2015

Read through our business travel guide to one of the busiest airports in Europe to make the most of your next stay at Manchester airport.

Business Travel Stats

Manchester airport is a record breaker in terms of its size, number of passengers, and the list of destinations that it flies to. The Civil Aviation Authority ranked Manchester as the UK’s third busiest airport, coming closely behind Heathrow and Gatwick.

In June 2014, Manchester airport handled more than 16,000 aircraft movements and served over 2 million passengers. Every year, nearly 20 million passengers fly in and out of Manchester to more than 225 destinations worldwide. The airport is an important hub for business travellers, as it serves some of the world’s premier business destinations, including Dubai, Paris, Frankfurt, New York, Zurich, Toronto, and Geneva.

In 2010, £100 million were invested into modernising the airport business infrastructure. The project included the construction of a state-of-the-art business lounge, the development of customer service programmes, and the purchase of body scanners to speed up the security screening process. Within the next 15 years, the Airport City project will add 5 million square feet of accommodation space exclusively devoted to business travellers. A Master Plan has been drafted as part of the airport’s continuous expansion plans. It is expected that by 2030, the airport will serve 50 million passengers per year.

Manchester Airport For Business Travellers @officeinuk

Business Services and Incentives

Read more »

Tagged , , , ,

Pension Auto Enrolment – What do Businesses Need to Know?

Posted on February 10, 2015

All employers must automatically enrol certain staff into a pension scheme and make contributions. Employers are also required to let staff know about the scheme and allow staff to join the scheme voluntarily. Although automatic enrolment is an ongoing responsibility, there are a number of things to keep in mind when getting ready for it.

In order to get prepared for automatic enrolment, businesses need to find out their staging date. This date appears on a letter that is sent from The Pensions Regulator, which is the regulator for work-based pension schemes. Alternatively, you can also use your PAYE reference and determine the date online. You will also have to nominate a point of contact that will be your businesses point-person to receive guidance and help through email updates. Businesses can provide a point of contact online to The Pensions Regulator.

Getting ready before the staging date is essential, and businesses need to make plans at least a nine months to a year prior to the staging date. The Pensions Regulator has an online planning tool to help your business prepare. The planner provides information on what steps need to be taken and by when in order to prepare for automatic enrolment. While planning ahead will avoid last minute hassles, it is also important to consider the costs of setting up your pension scheme. Costs may include the purchase of software that will be used to manage automatic enrolment as well as any advice you might want to seek from independent advisors.

A regular contribution must also be paid into the pensions by employers. Contributions can be calculated using an online resource available from The Pensions Regulator. Before 30 September 2017, the minimum employer contribution is one per cent (two per cent total minimum contribution). From October 2017, the minimum employer contribution is two percent (five per cent total minimum contribution) and from 1 October 2018, the employer minimum contribution is three per cent (eight per cent total minimum contribution). Employees may pay pension contributions, which are deducted from regular pay and paid into the scheme.

Only certain staff are eligible for automatic enrolment in pension schemes, and it is up to you to assess who is eligible. In order to evaluate who is eligible, make sure your staff and payroll records are up-to-date with dates of birth, National Insurance numbers and contact details before the staging date. Any person aged 16 to 74 have the right to join a pension scheme if they earn £481 and below per month. Any employee earning over £481 up to £833 per month has the right to opt into the scheme. If an employee earns more than £833 per month, they have the right to opt in if they are 16 to 21 years of age or from the state pension age to 74. Employees earning more than £833 per month who are aged from 22 to the state pension age are automatically enrolled.

The next step is choosing a pension scheme. If you already have a scheme for your employees, check with your pension provider to determine if it is appropriate for automatic enrolment. You may need to create a new pension scheme, so it is important to speak to a pension provider six to nine months before your staging date. The National Employment Savings Trust (NEST) is a government pension scheme open to all employers. Other options are also available from a variety of private sector sources.

At your business’ staging date, you will have to identify which employees will be automatically enrolled and which ones have the right to join the pension scheme. After the staging date, you must notify your employees in writing about automatic enrolment. The Pensions Regulator has a number of template letters that can help you. You must also complete a declaration of compliance once staff are automatically enrolled. This form of registration lets The Pensions Regulator know that you have fulfilled all legal responsibilities.

For more information about automatic enrolment, visit www.thepensionsregulator.gov.uk/automatic-enrolment

Tagged , , ,

UK Office Market Forecast 2015: Global Comparisons

Posted on January 29, 2015

If there is one thing that can be said about the UK’s commercial property market, it is that this sector is finally showing solid signs of recovery. Overall, 2014 was a good year for this sector, which has experienced significant growth in activity levels in pretty much every market sub-sector. In particular, the UK’s office property market has established itself as a global leader following a period marked by contraction after the financial crisis. But is this positive trend here to stay? And what can we expect from the British commercial property market during 2015?

In November 2014, real estate firm Cushman & Wakefield published a comprehensive report that examined the main trends that are expected to affect the UK commercial property market during 2015. The report also provided a wealth of information on the major global markets. In this post we have put together the highlights of this interesting report and we provide an overview of the main trends to watch out for in 2015, with a special focus on the office market.





UK Office Market Forecast 2015: Global Comparisons

Prime Office Space Prime Office Space

Read more »

Tagged , , , , ,

Office Rental Market Forecasts and Statistics for 2015

Posted on January 15, 2015

The UK’s office market in perspective: European comparisons

The performance and forecasts that apply to global commercial property markets are a useful indicator for the UK’s office market. Below you will find a selection of the most notable trends affecting office properties all over Europe.

According to market analysts at Cushman & Wakefield, 80 per cent of the European markets studied are set to experience rental growth during the next 12 months. Of the 21 cities that were included in the study, London tops the list of best-performing office markets in Western Europe. According to the report, the office market in the British capital will benefit from a positive economic outlook, which is very likely to boost occupier demand. In addition, and in line with the trends that we have seen during 2014, the growth of the creative, media, and tech sectors will continue its upward trend, bringing about increased demand for Grade A space in prime rental locations in the West End and beyond. The recovery of the finance, banking, and insurance sectors is also expected to consolidate over the next 12 months, and this is likely to bring renovated interest in office properties throughout the City.

Class A Prime Rents For 2015

First, it is important to note that GDP growth across Western Europe has been predicted at 1.7 per cent. The best performing economies are the UK, Poland, Hungary, and Romania, and it is precisely in these markets where we can expect to see the highest office inventory absorption rates, ranging from 13 per cent in Warsaw to 18 per cent in Bucharest. In terms of new office developments, Istanbul, Bucharest, Prague, Warsaw, and Moscow are on the lead, whereas London, Lisbon, Madrid, and Barcelona are set to be the worst-performing in terms of their respective development pipelines. In Europe, office space is at its dearest in London, where prime rents are expected to average £127.5 sq/ft/year, increasing to £130 sq/ft in 2016. Dublin, Paris, Zurich, and Brussels are other European markets where office rental values are set to grow.

Source:

http://www.cushmanwakefield.com/~/media/global-reports/Global%20Office%20Forecast_2015-2016-1205.pdf

Tagged , ,