Aycliffe Today Business AT Business Issue 37 | Page 11

The magazine for Aycliffe Business Park | 11
/NEWS
/ADVICE
LENDING IN AN
UNPREDICTABLE ERA
Y
Schoolchildren go global for
popular business competition
oung entrepreneurs have been set
the challenge of thinking global when
developing their business ideas for a
competition designed to inspire enterprise
skills among schoolchildren.
Future Business Magnates (FBM) – an
annual competition run by Business Durham,
the economic development organisation for
County Durham – was launched at Newton
Aycliffe’s Xcel Centre with the challenge:
Made in County Durham, Sold to the World.
Influential names from the business world,
including Ebac, Roman, Hydram, Bignall
Group, Waterstons, CA Group, Robertson
Construction, Frank’s the Flooring Store
and Zumtobel Group, will partner 18 school
teams from across County Durham and
provide mentoring and support over the next
few months.
Sarah Slaven, operations director for
Business Durham, which works on behalf of
Durham County Council, said: “Pupils taking
part in Future Business Magnates have
always proved just how imaginative County
Durham’s young people can be.
“We are looking forward to seeing the
innovative ideas they will come up with in
this year’s competition.
“Pupils will be encouraged to draw on all
of the resources available to them, from their
schools, their business partners, and their
networks to develop a business idea that has
global appeal.
“We want to see the teams developing a
product or service that can be made using
the skills found here in County Durham, and
be exported around the world.”
Over the next few months, around 180
pupils will attend a series of specially
designed workshops and work with their
mentors to develop a business idea, create a
prototype and understand how to market and
finance their product or service.
Pupils will present their finished concept to
the judges and winners will be announced at
an awards ceremony in June next year.
FBM has helped develop the business
acumen and creative flair of hundreds of
secondary school children since it was first
established in 2005.
Emerald Biogas to run new biomethane
trucks using own energy
E
nergy pioneers Warrens Group
have taken delivery of the first of
a fleet of new trucks which will be
powered by their own gas.
Warrens runs what was the North-
East’s first food-to-waste anaerobic
digestion facility when it was built on
Aycliffe Business Park in 2012.
Now the third-generation family-run
firm claim they’ll be the first food waste
recycling company in the UK to power
their HGV waste collection vehicles
with biogas converted directly from
their own food waste customers.
Emerald Biogas currently collects and
recycles more than 115,000 tonnes of food
waste at its Aycliffe site to generate over 100
million kWh of clean, green energy every year,
which is enough to power 19,000 homes.
The first new biomethane-powered truck
will be in operation six days a week, with
refuelling carried out at Warrens Group’s on-
site Aycliffe facility.
It means the truck will be seen collecting
food waste from a wide range of existing
Warrens customers including pubs,
restaurants, schools and supermarkets across
the North-East.
It’s thought if HGVs could be fuelled by
gas made from renewable sources, carbon
emissions would be almost eliminated.
In the commercial funding sector we
hear lots of business stories (something
we particularly enjoy) and increasingly
varied reasons behind business loans
– from start-up investment to working
capital.
What we’ve also been hearing recently
is hesitation about lending in Britain’s
unstable economy, so we wanted to
share some insight to allay such fears.
1. There will always be lenders
Loans have been an essential part of
business for hundreds of years and will
continue to be. With the vast range
of lenders in the market, rather than
thinking of a changing economy as
something that eliminates lenders, think
of it as swinging a pendulum towards
a certain type of lender – perhaps from
traditional banks to challenger banks;
to independent, specialist or second
and third-tier lenders; or even wealthy
individuals. Regardless of where that
pendulum stops, businesses loans are
still viable.
2. Tightened up applications are a
good thing
Worried lenders and borrowers mean
that a sound application is needed
more than ever before. But more
evidence, more suggestions, more skill
in presentation and a stronger business
plan can only bring more clarity to your
business – maybe pinpointing growth
goals, perhaps prioritising assets or
cash flow – but definitely rejuvenating
your business to maximise the resulting
funding.
3. Lenders have learnt their lesson
Ten years ago saw the UK in financial
crisis. Banks have since ring-fenced
operations – a regulatory reform to
make the financial system safer, and
one of many valuable lessons learnt
which benefit borrowers today. Lending
may become more expensive (it may
not!), but as the saying goes; “You can’t
put a price on safety”.
It’s important that we continue to hear
ongoing stories of businesses both
large and small. Rather than economic
worries preventing the next page, well-
funded businesses should be thriving
into their next chapter.
Mike Coates,
Managing Director,
Commercial Expert
Commercialexpert.co.uk
@commexpertltd