Cumbria Growth Hub Podcast

The Government has decided that all businesses - including buy-to-let landlords - will have to use computer software for their accounts, sending quarterly updates online to HM Revenue. Making Tax Digital is being phased in, starting with VAT next April. In this podcast, Claire Phillips and Simon Kirkbride, of accountant Dodd & Co, look at the new system and what businesses should do to be prepared.

Businesses are finding it harder to recover overdue debts, according to research from the invoice financing firm Liberis. A survey carried out in March found that small UK businesses are owed £14.9bn in late payments, up from £13.9bn only six months ago. A quarter are owed more than £20,000 and half say that aged debts have hindered investment in their business. They spend, on average, £5,000 a year in time trying to recover these funds. In this podcast Rob Winder, head of the debt and property recovery team at Burnetts Solicitors, looks at what businesses can do to improve debt recovery and how to identify potential defaulters before they run up big debts.

We are increasingly optimistic that the tidal energy scheme incorporating road crossings of Morecambe Bay and the Duddon is viable. Things have moved on apace since Chamber Insight first reported on the £10bn project last year. Rob Johnston, Chief Executive of Cumbria Chamber of Commerce, said: “We’ve asked Transport for North to consider including the scheme in its strategic plan because we think the economic benefits could be enormous. “It would slash journey times to Furness and Millom, provide another access to West Cumbria, generate green electricity, potentially alleviate flooding and cut the costs of connecting Moorside to the National Grid. “It’s the sort of transformational scheme you see in other European countries but all too rarely in the UK. There’s a danger that we concentrate on small, incremental improvements rather than schemes of this scale that will make an impact on Cumbria for 100 years or more.” In this podcast Alan Torevell, of Northern Tidal Power Gateways, provides an update on progre

The railway from Penrith to Keswick closed in 1972 but rail engineer Cedric Martindale is campaigning to reopen the 18-mile link. He has formed CKP Railways to take the project forward, sold bonds to raise £400,000 and produced a business case. In this podcast, he outlines the benefits that reinstating the line would bring and looks at the obstacles that must be overcome. Find out more about the project here.

Despite the austerity cuts of recent years, the public sector is still a major player in Cumbria. We have seven local authorities, the Lake District National Park, a major Defra presence and the University of Cumbria. That’s a big potential market. In this podcast Kevin Thistlethwaite, an adviser with Cumbria Business Growth Hub, explains how SMEs can bid for contracts with local authorities, government departments and other public sector organisations.

Speaking at a recent Chamber event, the Lancaster University academic Andrew Atherton speculated that Cumbria will benefit as the high cost of operating in London prompts businesses to move out of the capital. He explores the theme further in this podcast and considers what more Cumbria can do to attract inward investment, where future growth will come from and how we can encourage the businesses we have to scale up. Andrew Atherton is Professor of Enterprise and Deputy Vice-Chancellor of Lancaster University, and an expert in SME policy. Click here to find out how to subscribe to Chamber podcasts.

Around half of businesses in Cumbria that try to recruit staff struggle to do so. With the unemployment benefit claimant count rate as low as 0.7% in parts of the county, and thousands of workers due to retire over the next 10 years, it’s a problem that is expected to get worse. In this podcast Shane Byrne, Partnership Manager at JobCentre Plus in Cumbria, explains how they can help employers to recruit staff, and how the new Universal Credit is making it easier for claimants to get back into work. Click here to find out how to subscribe to Chamber podcasts.    

The VAT threshold in the UK is the highest in the EU and the OECD. It has been frozen until 2020 when, in all likelihood, it will be reduced. Ministers believe that having a high threshold discourages small businesses from growing and fuels the black economy. Are they right? In this podcast Pauline Jackson, a tax partner at chartered accountant Saint & Co, examines the arguments for and against cutting the registration threshold and looks at other VAT measures the Government might introduce. To respond to the Government’s call for evidence on VAT, click here. The deadline for responses is June 5. Click here to find out how to subscribe to Chamber podcasts.

South Lakeland is the fastest-growing economy in Cumbria and North Lancashire and has the lowest unemployment rate in the North West. In this podcast Councillor Graham Vincent, the Economy and Assets Portfolio Holder at South Lakeland District Council, looks at why its economy is so successful and examines the challenges that success brings. He also explains the thinking behind the council's revamped business website – www.investinsouthlakeland.co.uk – and discusses the impact of Brexit, the prospects for finding a buyer for GSK at Ulverston, and how South Lakeland is working with other local authorities to boost the economy of Morecambe Bay.

This is English Tourism Week (March 17-25), which aims to celebrate the industry and raise its profile. In this podcast, Nigel Wilkinson looks at the challenges and opportunities for the sector, which is worth £2.72bn a year to Cumbria. Nigel is Managing Director of Windermere Lake Cruises, one of the top 10 paid-for visitor attractions in England, and is a director of Cumbria Local Enterprise Partnership where he leads on tourism issues.

Chancellor Philip Hammond delivered his first Spring Statement on Tuesday. He was upbeat about the economy, predicting stronger growth, falling government borrowing and falling inflation. In this podcast, Chamber Chief Executive Rob Johnston looks beyond the spin to assess the impact of the Chancellor’s statement in Cumbria. And he examines Donald Trump’s proposed steel and aluminium tariffs, which could provoke a damaging trade war.

The last scheduled passenger flight from Carlisle Lake District Airport was in 1993. Twenty-five years later they are about to resume. In this podcast, Kate Willard of Stobart Group outlines plans to begin daily services to London Southend, Belfast and Dublin from June 4, and looks at the prospects for new routes. Click here to register for updates about Carlisle Airport. Click here to find out how to subscribe to Chamber podcasts.

The General Data Protection Regulation (GDPR) comes into force on May 25, replacing the Data Protection Act. All businesses that handle personal data must comply – those that fail to do so face potentially crippling fines of up to four times’ annual turnover. In this podcast Tom Scaife, a partner in the commercial and corporate law firm Baines Wilson, explains the responsibilities and obligations that businesses have, and what they should do to stay compliant.

Malcolm Laidlaw, of ML3 Technical Services, is an expert in food safety and labelling. In this podcast, he discusses the quality systems and accreditations that food and drink businesses need to supply national regional players such as Booths and industry giants such as Tesco and McDonald’s.

Most of us realise that it's sensible and prudent to make a will, yet only three-in-10 people have made one by the time they die. In this podcast, Rachael Stephenson, a senior associate at Burnetts Solicitors who heads the firm’s wills, probate and trusts team, explains why it is particularly important for business owners to have a will and sets out what might happen to your assets if you don’t have one.

Obtaining finance is a perennial issue for businesses. But there are probably more options than ever before, with specialist and peer-to-peer lenders offering alternatives to the high street banks. In this podcast Mike Robinson, an asset finance broker and partner in Mulberry Asset Finance in Burton-in-Kendal, explains what’s available. And we introduce the Northern Powerhouse Investment Fund, which offers loan and equity finance to Cumbrian SMEs. There’s more in the ‘Financing Your Business’ section of the Cumbria Business Growth Hub website, or call the Growth Hub on 0844 257 84 50. The Northern Powerhouse Investment Fund is supported by the European Regional Development Fund, the European Investment Bank, the Department for Business, Energy and Industrial Strategy and British Business Finance Limited, a British Business Bank group company. The NPIF covers the following LEP areas: Tees Valley Combined Authority, Greater Manchester, Cheshire and Warrington, Cumbria, Liverpool City Region, Lancashire, Humbe

Justine Douglas is one of 60 advisers working with Cumbria Business Growth Hub. She specialises in providing one-to-one advice to new business on our Business Start-Up Support (BSUS) and New Enterprise Allowance programmes. In this podcast, she imparts some sound advice for start-ups, and outlines some of the most common pitfalls. To find out more about BSUS, click here and to find out more about New Enterprise Allowance click here. The BSUS project is receiving £1,112,686 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020, with a £2,225,372 project total. The Department for Communities and Local Government (and in London the intermediate body Greater London Authority) is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation

Mental health problems such as anxiety, depression and unmanageable stress affect one-in-six British workers. Work-related mental ill health costs the UK economy between £33bn and £42bn a year through lost working days, staff turnover and lower productivity. Yet mental health is still a taboo subject with employers and employees unsure of how to confront the issue. In this podcast Caroline Robinson, of the mental health charity Mind, explains what employers can do to minimise the impact. To download a copy of Taking Care of Business, Mind’s guide for employers to mentally healthy workplaces, click here. To download Mind’s Guide to Wellness action plans for line managers or employees, click here. or information about how Mind can work with individual businesses, contact your local branch: Carlisle Eden; Furness; South Lakeland; West Cumbria.

Cumbria Business Growth Hub has been a phenomenal success story. Since launch in 2012, it has delivered intensive support to 2,000 businesses, creating or safeguarding 6,824 jobs and generating £280m additional GVA for Cumbria. In this podcast, the Chamber’s Deputy Chief Executive Suzanne Caldwell explains what the Growth Hub is, what it does, and how businesses can benefit.

A Borderlands Growth Deal could be hugely significant for Cumbria, unlocking major infrastructure schemes such as dualling the A69 and extending the new Borders Railway from Edinburgh to Tweedbank through to Carlisle. In this podcast, Colin Glover, leader of Carlisle City Council and one of the architects of the Borderlands project, explains the thinking behind the Growth Deal in conversation with Rob Johnston and Julian Whittle from the Chamber.