Investors take note: How India is defying the crunch

There are a few golden rules when it comes to developing commercial interests on foreign shores. Granted, market research is pretty vital, and a sound business plan is also recommended. But most importantly for all you budding entrepreneurs, don’t chance your arm somewhere crippled by the economic climate – it’s probably going to end in tears.

Then again, that’s easier said than done. So where can you find a country that has shrugged off the dastardly threat of the credit crunch, and is in fact thriving amidst the economic slowdown. Ladies and gentlemen, look no further than India. Boasting a whopping GDP of £545bn and proving to be a fruitful investment destination, it’s no surprise that businesses are cashing in on the World’s second-fastest-growing economy.

In fact, India has leapfrogged China in terms of private equity investments with cash injections now totalling £10bn, compared with just £2bn four years ago. Corporates are generating a surplus of £86bn a year, and foreign direct investment recently shattered the £17bn barrier. Add a 22% growth in imports and exports into India, and you, quite literally, have stumbled upon a goldmine.

So let’s break down the positives. A burgeoning middle class with disposable income? Check. A large English-speaking population? Check. Corporate and national growth annually? You bet. India is flourishing in the heat of a consumer boom, so why haven’t more UK businesses hedged their bets and taken the risk?

Part of the reason is the tedious and often complex lengths one must go to in order to register a business. Those with a phobia of paperwork look away now. Approval is required on a variety of levels, and appropriate licensing is needed to establish a bank account. You’ll also need approval from the foreign investment board, plus registration with all relevant tax authorities.


Easy it won’t be, but expanding into India could be the best commercial decision you ever make.

(Startupoverseas.co.uk, 2009)

Tom's Varsity interview

What do you remember about last year's Varsity match?

The game is a bit of a blur to me now, but I remember it being close-fought and very hot! As water boy I had the enviable task of running on the pitch every five minutes. For a lot of the boys it was their last game for the university so it vital to have a good send-off. Oh yeah, and post-varsity Kaos is best night you’ll ever have at Uni. Fact.

How did the atmosphere differ from any other normal match?
It’s the atmosphere that makes the game. Prior to kick off, you could sense the tension in the squad, and in the stands we greatly outnumbered and out sung their support. Varsity has all the makings of an FA Cup tie; it’s a unique occasion and one of the only opportunities to get one over on the dirty v-necks. (Sorry, uni).

What was it like scoring the winning try?

Pretty surreal actually, I had only been on the pitch 5 minutes! Scotty Hancocks broke through about eight tackles; fed me the ball and I bundled over the line from 15 yards out. Everybody was too exhausted to run over and celebrate with me, so I went off on a solo victory run, complete with embarrassing 1950’s style heel-click. Better still, I didn’t have to buy a drink all night.

How will the team be preparing for this years match? Any special way or just like any other match?

Last year we trained four or five times in the build up to the game, including a visit to the Madejski Stadium to train in their indoor facilities. Every member of the side took the game very seriously, and I think the intense training schedule helped us to gel as a team and develop our game.

Have you played many games for the team this year, if not how come?

To be honest I haven’t played a great deal this year due to a combination of factors. I have lessons timetabled during training and match days, and more importantly, I’m not very good at rugby.

How will you be showing your support for the team this year?

I’ll be in the stands shouting as much abuse as possible at the V-necks. And supporting the mighty Solent of course.

What advice would you give any of the lads before the game?

I would encourage the boys to just go out and give it their best shot. We’re undoubtedly the underdogs, but we want it a lot more than they do. The feeling of beating them, and retaining the bragging rights for another year will be enough to spur us on.

Why should we go and show our support at this years Varsity match?

Even if you’re not a rugby fan, it’s still a fantastic day out. The sun is shining; there are horns, banners and a lot of beer. As many of us as possible should try and get down to the game, and cheer Solent on to another victory.

(RE:SUS, 2009 - By Carl Mallia)

Best Foot Forward

When Phil Watts’ wife Tracy was diagnosed with Primary Progressive M.S last year, he decided to do something to help. After researching the disease and coming across the MS Society website, Phil realized that it was important to raise awareness, and money for the charity.

“After the initial shock of the diagnosis had passed, I just wanted to help however I could. The MS Society sent us avalanches of information, offered support, and was really helpful. I wanted to repay that kindness shown by the charity.”

Phil came up with the idea of a sponsored walk with a twist. Realising that the event would have to be really special to raise awareness, he decided to finish at Land’s End, a staggering 198 miles from the Southampton starting point!

Phil set up ‘Best Foot Forward’, and in the first month raised an impressive £1500. Having drafted in best friend Diago Brito, Stepson Steven Bristow, son-in-law Barry Meech, and brother Graham to accompany him on the trek, Phil started on the detailed preparations.

Just before Christmas he contacted the MS Society in Southampton, and arranged a meeting. Charlie Bloom, Tony Gerrard and Steve Beeching pledged support to the project, assisting with admin, fundraising, and organizing the barbeque!
As well as the marathon walk, a short 10km walk and a 2km wheelchair push are also taking place on the 1st August – the starting day of the event. Phil says that the walk will be a great way to raise money for a good cause and have fun at the same time.

“Our intention is to get as many branches involved along the way as we can to maximise exposure and to raise valuable funds for other branches as well.”

(MS Society newsletter, 2009)

Guinness Premiership try of the year

First things first, allow me to apologise for the misleading title. This isn't the best try in the Guinness Premiership, it's one of the best tries ever. The Rocket man David Lemi doing what he does best - destroying opposition defences.

It happened on September 7th, and you couldn't have asked for a grander stage. The season's curtain-raiser and a mouthwatering local derby bathed in Bristol sunshine. Optimism was high, and the Bristol support blissfully unaware of the treacherous, and often painful journey that awaited them.

Now the club find themselves beaten and bruised, cut adrift at the foot of the Guinness Premiership, staring relegation square in the face. Currently, Bath Rugby have amassed 33 more points than their neighbours, and as well as challenging for the league title, are embarking upon a successful Heineken Cup run. But in that moment Butch James and co. were brought down to earth with a bump by a plucky and diminutive Samoan.

It began with Bath scrum half Michael Claassens committing the cardinal sin of professional rugby - kicking the ball to David Lemi in broken play. Waltzing past James Scaysbrook with ease, the winger produced an audacious step, leaving a red-faced Claassens stranded and bemused somewhere on the M32.

Then came the difficult part.

How do you get past Matt Stevens and Lee Mears, two top-class international front-rowers intent on stopping your progress? You can't go round them, and when you weigh eleven stone you ain't going over them. Well, if your name's David Lemi you just go straight through them. Leaving a cloud of dust in his wake, the islander burst through a seemingly impossible gap, brushing aside Peter Short's despairing dive.

Having duly dispatched six hapless defenders, Lemi delicately chipped over the on-rushing full-back Nick Abendanon, his searing pace taking him into Bath's 22 metre zone. But there was still plenty to do, and with Australian lock Justin Harrison and Tom Cheeseman breathing down the Rocket man's neck, one would expect him to falter.

Instead, Lemi flicks the rolling ball past Cheeseman, plucking it from the floor like it was easy pickings and bundling over the line. The supporters gave him a standing ovation, and boy, did he deserve it.

Watch it. Enjoy it. Appreciate the genius that is David Lemi.

Baltic blues as Latvia suffers economic chill

In Latvia, economic turmoil isn’t just shaking the nation’s banking system, now the impact of the credit crunch has helped to overhaul the government. In typically unstable Baltic fashion, thousands protested in the cobbled streets of Riga, voicing their displeasure at the country’s financial policy. The aftermath resulted in more than 100 arrests and nearly 50 injuries. But the damage was done. The Prime Minister Ivars Godmanis and his right-wing government resigned from office, tails tucked sheepishly between their legs.

In December 2008, Godmanis was forced to seek 7.5bn euros from the European Union, World Bank, and IMF to bail out the banking industry. As part of the deal he had to cut public spending and increase taxes – the sort of policies that won’t get you on anybody’s Christmas card list.

So what has happened to Latvia? Just two years ago, the nation’s economy, thriving from its relatively new-found independence, was growing by 12%. Today the economy is in deep recession, and the only figure growing is that of unemployment – expected to rise by a staggering 40% in 2009. To make matters worse Latvia’s gross domestic product (GDP) plummeted 10.5% in the last quarter of 2008, compared with the same period a year previously. Experts are predicting the outlook will only get gloomier, with GDP shrinking again this year.

It doesn’t make easy reading for the Latvian government, who face a struggle rebuilding confidence with the country’s 2.4 million people. But, as is the common theme in the financial crisis, the blame can be placed firmly on the heads of Latvia’s banking superiors. One major reason for the decline was some shady deals made by locally-owned banks, institutions which make up nearly half of the Latvian financial system.

The bankers snaffled deposits from abroad and invested them in the booming property market. When the property market began to decline (surprise, surprise), foreign credit dried up and confidence in Latvian banks evaporated quicker than you can say ‘Northern Rock’. As customers panicked, rushing to scoop up their deposits, the second largest bank, Parex, collapsed and has since has been largely nationalised.

Another victim of greedy bankers, foolish decisions and a huge slice of bad luck, the financial future doesn’t look bright for poor old Latvia.

(Startupoverseas.co.uk, 2009)

Wednesday Club exercise classes

There are many benefits of exercise but a big element of this programme is fun! The class is run every week by Laura and Josie, two qualified physiotherapists specialised in neurological rehabilitation.

“Research has suggested that exercise can improve the overall health of people with milder MS and help people with more severe MS to stay as mobile and active as possible. Regular exercise may also help with weight control, maintenance of muscle strength, control of fatigue, depression, anxiety and improve balance."

Individual assessments with a physiotherapist are available before every class to address any specific problems, set goals, measure progress and offer advice on any issues that may have occurred.

The class aims to address a variety of needs starting with a seated warm up programme which involves gentle stretches and range of movement exercises to mobilise every joint. One physiotherapist leads the class demonstrating every exercise while the other is on hand to help stretch and move joints that an individual may struggle to achieve.

The main section consists of a combination of cardio training, strength work and balance exercises. Some may prefer to work in standing while others remain seated. We try to ensure every exercise can be adapted to suit and yet challenge every individual. We also include sections of resistance work using theraband to improve strength and seated core stability work, which is a key element in maintaining upright posture and balance as well as controlling back pain.

The social element to the class is central with lots of laughter, jovial mick taking and most importantly a huge amount of support and encouragement is offered by all – especially during that final squat. Finally the favourite and most welcomed part of every class is the 5 minute relaxation period at the end!

The ability to relax is important to decrease stress and anxiety and also maximizes the benefits of rest periods helping to reduce fatigue. After an hour everyone is tired, and most importantly ready for lunch.

(MS Society newsletter, 2009)

The Data Retention Act: Bad news for the internet and its users

The Home Office has admitted that the government will call on BT and other big communication firms to help to monitor the activities of British customers served by smaller internet providers (ISP’s). Under the Data Retention Act, records of private information will be recorded for at least a year, costing the taxpayer around £46 million. The data stored will include emails sent and received, web traffic and sites visited. Although the measures have only recently come into practise, the government initially made recommendations in the wake of the 7/7 July bombings with the intention to keep an eye on any online terrorism activity. These records could then be passed on to police, health authorities and security services in a flash.

It’s no surprise that the cost of the nation’s safety is a little pricey. Rather than paying every small ISP to retain customer’s communication data, the Home Office have instead threw a bundle of cash in the direction of large-scale bandwidth providers like BT to gather data from their networks. According to Whitehall officials, paying for small ISP’s just isn’t a worthwhile investment. This is because smaller providers often have less sophisticated record systems and subsequently cannot retain data as sufficiently as one might require. So by having BT collect the data rather than dozens of ADSL resellers, the government is set to save itself millions.

However, the decision has left the internet industry somewhat perplexed, with concerns over legal and privacy implications. Although the bill requires all ISPs to store every form of electronic communication made over their networks, some providers are not expected to comply for the simple reason of not having enough customers to justify spending money on. If you’re one of the lucky few who won’t be spied on, congratulations, that slow broadband connection was definitely worth it.

The internet industry is now bracing itself for the next inevitability. Intelligence chiefs have called for a vast central government database in conjunction with the private sector, pooling retained data and monitoring national communications to the tune of billions of pounds. Providers should not be surprised. The head-in-the-sand mentality adopted by ISP’s towards the Data Retention Act has contributed to the blurring of boundaries between government and QUANGO’s.

Even social-networking giant Facebook have introduced new privacy policy, which enable the site to maintain and control a member’s information forever, even after their accounts have been cancelled.

On a positive note for customers, there are ways to defend yourself against the threat of having your online activities recorded. Tor is a software project that already works with web browsers, instant messaging clients and remote login. The technology defends against traffic analysis and network surveillance. The technology protects users by bouncing around a distributed network of relays, preventing companies such as BT learning what sites are visited. Another technique to avoid being spotted is known as ‘tunnelling’, a process which encrypts all data from one network and creates a tunnel to a server or gateway outside the European Union, where the connections are unpacked and decrypted.

The public reaction to the government’s announcement has been one of fierce opposition. Forums and blogs across the UK have branded the measures as another step towards a ‘Big Brother’ state. The question remains: will the measures help the government to clamp down on unlawful activity online?

Retaining data is undoubtedly a valuable tool against terrorism and organised crime if the level of investment is sufficient. But the negative impact upon providers is sure to cause concern for the industry. As well as the financial strain (although the government have promised to reimburse all costs eventually) ISP’s also risk the trust of their customer base. This could result in a loss of revenue streams as advertisers and consumers flock to the uncharted waters of free unmonitored networks.

ISPs must continue to be viewed as providing a neutral infrastructure; after all, they have the power to know the intimate details of our lives. Therefore, they should be prevented from abusing that power, and shielded from the power of the Home Office, whose involvement has lead to diminished consumer-product confidence. If this does not happen, it is not only the digital economy that will suffer, but the internet industry as a whole.

(Smartcard News Ltd, 2009)

NHS database faces stiff competition from Health eCard

It seems as though patience is wearing thin with the proposed national NHS database. The project, which plans to store electronic medical records for 50 million people in the UK, has been hit with lengthy delays amidst fears over the system’s confidentiality and bust-ups with providers. To make matters worse, there’s a new kid on the block for the Government to contend with. The innovative £40 ‘Health eCard’ provides an alternative to the less-than-reliable database scheme, and enables patients to carry their medical records with them at all times. The London-based company behind the card, Health e-Systems, says that once credit-card sized smart card is adopted by a GP, a securely encrypted copy of the patient’s records can be accessed, downloaded, updated, and checked. Not to mention storing test results and digital X-rays.

In almost sheepish comparison, the NHS database languishes four years behind schedule, and the National Audit Office now predicts a completion date ‘around 2014-15.’ The project is part of a £12.4bn government programme to upgrade NHS computer systems. That equates to £200 for every man, woman and child in the UK, a staggering amount of cash. Ministers claim the database, which will store information on mental illness, HIV status, pregnancy and alcoholism, will ‘drag the NHS kicking and screaming into the 21st century. Sure, there’s a risk of losing data (see recent data losses by various Whitehall departments), but paper records are also going astray. Doctors and nurses will carry chip and PIN cards to access more confidential information, although ominously, the danger with the system is that with no clear individual responsibility for the records, who’s going to protect the information that’s been collected?

The government’s decision that only the minimum information on each patient will be uploaded perhaps signals the lack of confidence in their own staff actually retaining this data, rather than misplacing it, as we’ve come to expect.

In fact, the Department for Health was forced to admit another blunder, announcing negotiations with Japanese giant Fujitsu had collapsed after the two failed to reach an agreement ahead of the first scheduled roll-out in Southern England. (As yet, only two NHS primary care trusts have piloted the scheme, describing the results as ‘clunky’). Fujitsu was one of the three main suppliers, holding a contract worth £895m, and overseeing activities from Kent all the way to Cornwall. Contractors involved in the deal are rumoured to have complained the DoH has been ‘inflexible in specifications in order to keep costs within budget’. In a statement, a Fujitsu spokesman said the company had withdrawn as it did not feel there was any prospect of an acceptable conclusion. It seems the government’s attempt to push a centralised, one-size-fits-all NHS system is starting to crack under the considerable pressure.

But nevertheless, ministers have brushed aside concerns over the project. Labour MP Kevin Baron accused the British Medical Association (BMA) of scaremongering with suggestions that the government will profit by selling health records to pharmaceutical and insurance companies. It’s clear that a central database would be very helpful when managing and monitoring patients – the benefits are obvious to all. Then again, so are the risks. The recent debacles in data management make it very difficult for patients to have any confidence in a system which cannot wholly guarantee the security of its data.

But what about the GPs? A survey conducted by BMA News revealed nine out of ten doctors had no confidence in the government’s ability to safeguard data either. More than 90% of respondents said they weren’t confident patient data on the centralized database would be secure. However, there could be more of a motive for doctors to turn their backs on the government’s plans. The company behind the Health eCard pays GPs £10 to download a patient’s records onto the card, a handy bonus to add to the coffers. If the card takes off, it could mean an extra £500m for doctors across England. Are GPs protesting against the threat of data loss and the potential effect on patients, or are they motivated by making a quick buck?

One reason for an affiliation to the eCard over the proposed database for doctors is the reduced risk and culpability involved from their perspective, with sensitive details carried in the wallet rather than smeared across the web. Of course, I can think of 500 million other reasons as well.

Already, twenty-one surgeries and three-hundred patients, mainly based in London, are using the card. Trust is so minimal in the database that even some NHS hospitals have bought alternative software; at extra expense might I add.

With the government's previous farcical handling of medical services contracts, it’s no surprise that the public is looking elsewhere for secure ways to protect sensitive information. Whether the Health eCard is the answer is uncertain, but the DoH will need to get its act together if it wants to regain the trust of doctors and patients across the country.

(Smartcard News Ltd, 2009)

Not so Perth-ect for businesses in Western Australia

Every year nearly 5,000 Brits pack their bags and jet off to the sunnier climates of Perth, Western Australia. The city is blessed with year-round warm weather, endless coastline and the jewel in the crown – huge levels of natural resources just waiting to be exploited. But all is not well in this isolated corner of the Australian continent. Business is stuttering amid the international slowdown and employment figures have leaped to 2.8%. In fact, the engine room of Australia’s economy isn’t just grinding to a halt; it’s showing ominous signs of slipping into reverse. Life’s a beach, and all that.

According to the Commonwealth Bank and the Chamber of Commerce and Industry of Western Australia (what a mouthful) corporate confidence has plummeted to its lowest level in a decade. Mining projects in the Perth region have been shelved and thousands of jobs cut as a once thriving industry faces downward pressure on commodity prices and demand. But why is Western Australia feeling the pinch more than most?

Well, Down Under they’re blaming the Chinese. The region finds itself in the precarious position of relying upon the Chinese markets, and to a certain extent, the Indian economy as well. When things are going well, as they have been in recent years, Western Australia reaps the rewards that trickle down from the rapidly expanding Asian industries. But when things aren’t so rosy, Australia, and Perth in particular, suffers. Experts warn unemployment will rise even further in Perth with the construction industry bracing itself for a serious hit, while house prices could lose a fifth of their value.

So what can be done to soften the economic blow? Western Australia officials have suggested lower interest rates and taxes, as well as increased spending on public infrastructure and improved access to credit. It’s a time when firms will see an opportunity to ride the storm and look forward to the inevitable economic upturn. However, it could take two to three years before Perth fully bounces back.

Bet you’re glad you’re stuck in rainy England now.


(Startupoverseas.co.uk, 2009)

Warning: Easy money comes at a price

The Office of Fair Trading has announced that conmen advertising ‘get-rich-quick’ schemes are costing UK victims as much as £70m a year, a figure that is set to rise as the recession wears on. The dastardly fraudsters are targeting people who are desperate to get their hands on some easy cash, perhaps feeling the effects of the economic downturn more than most. The government has been trying to encourage businesses to use the credit crunch to their advantage, so in a way, they’ve succeeded. It’s smart thinking by those cooking up the scams, but less of a wise move for the naïve souls parting with their hard-earned pounds.

The news comes at part of Scam Awareness month which seeks to stop people being conned by criminals. Traditionally, the methods of advertising scams were amateurish, seedy procedures. Think grimy cards in phone boxes, notices on lampposts and junk mail in your inbox. Today, however, they also appear alongside genuine job opportunities in newspapers and in the online environment. Common schemes include envelope stuffing to put-together kits which are then rejected for ‘poor quality’ and subsequently payment is never received. There are many more examples, all just as painstakingly tedious.

A bigger concern is that hardly any of the victims ever bother to report the scam. Possibly out of sheer laziness, more likely due to embarrassment. In fact of the 300,000 people affected per year, only 2% tell the Office of Fair Trading. Consumer Direct suggests that anyone looking for home working opportunities should contact their local job centre. Slightly patronizing, but the good intention is there. A Consumer Direct spokesman pointed out that a “genuine job is highly unlikely to ask you to pay any money or an upfront registration fee”.

So the golden rule people - if it sounds too good, then it probably is.

(Startupoverseas.co.uk, 2009)

Itchy Bristol reviews

Venue Name: The Lizard Lounge

Address: 66 Queens Road, Clifton, Bristol

Postcode: BS8 1QU

Phone number: 0117 9497778

Venue website: http://www.lizardloungebristol.co.uk/

Venue email: john@lizardloungebristol.co.uk

Opening Hours: Mon–Sat, 9pm-2am

Price of a drink: £2.50 a pint, £7.50 a pitcher

Entry fee: £5/£4 NUS.

Review: Lizard Lounge has a lot in common with Marmite. You either love this place or you hate it, and it’s very sticky. The Lounge sits smugly on the Clifton Triangle, a quintessential cave dwelling for students, fox-hunting types and older men who should know better. Expect chart, dance, pop, more pop, smattered with a generous dollop of cheese. If you haven’t heard Wham! at least four times in an hour then you ain’t lounging it baby. On weekends the queues are bad, and the bouncers are even worse. Think Gestapo on steroids.

Venue Name: Severnshed

Address: The Grove, Harbourside, Bristol

Postcode: BS1 4RB

Phone number: 0117 9251212

Venue website: http://www.shed-restaurants.com/

Venue email: severnshed@shed-restaurants.com

Opening Hours: Sun - Thurs: 12pm – 12am, Fri - Sat: 12pm – 2am

Sample dish: Pan fried fillet of salmon, £11.50

Price of a drink: Earl grey martini, £5.

Review: This former boat shed (built by Brunel no less) has been converted into a swanky venue, complete with bar terrace and dining room, stainless steel ‘n’ all. The food is ‘classic european’ apparently, although it’s unlikely the Europeans liked to eat their food at breakneck speed. Severnshed’s success is also ultimately their downfall. Popular demand means diners taking longer than half an hour are met with a sea of glares and frustrated faces from staff who hang by the table desperate to ship in the next batch of customers. Well, you can’t deny the service is attentive.

(Itchy Bristol, 2009)

Heavy snow leaves small businesses feeling the chill

It’s hard enough for small businesses to survive the financial freeze, but it’s another thing altogether when we mean it literally. Yep, just to add to your woes, the heavy snow is here – and it doesn’t look like it’s going to leave any time soon. It’s laughable how quickly a turn in the weather can cripple the country, terrorists take note - half an inch of snow and you’ve won the war. Already Heathrow Airport has cancelled two-hundred and fifty flights; not to mention half the country’s motorways and schools boarded up as everyday life grinds to a halt.

But what of the UK’s businesses? The FSB (Federation of Small Businesses) estimates the heavy snowfall could cost well over £1bn. Apparently, 20% of the working population are ‘unable’ to get to their place of work. It’s unlikely that a) the workers are particularly disappointed by the prospect of a day in bed, and b) that they made any attempt to get to the office anyway. Stocks have been plummeting quicker than you can say ‘snow day’ as the London Stock market experienced lower levels of trading and flight companies such as BA experienced plummeting shares.

The bad news trickles down to the minnows of the business industry as well. Lower productivity means a declining trade for those who profit from the lunch hour – the sandwich stores and newsagents for example. In fact the entire cashflow of a company could be affected by late payments, a delay that could prove fatal to three thousand businesses across the country. Hardest hit will be those operating in the retail and construction industry. Builders are lazy enough as it is, so it’s likely sub-zero temperatures will dull their work ethic even further. If that’s possible.

But there is light at the end of the tunnel. The internet! While small businesses are vulnerable if core staff cannot make it to work, many can now work remotely and conduct business online. Phew, that’s a relief. And to raise flailing spirits even further, in the long term cold weather is likely to boost utilities output. Ah, something to smile about after all.

(Startupoverseas.co.uk, 2009)