Architect is one of three pitching for bank’s European HQ
The US bank is looking at building its new office on Farringdon Street and switching staff from a series of offices elsewhere in the City. Any new building would have to be limited to 15 storeys to avoid blocking views of nearby St Paul’s Cathedral.
Pei Cobb Freed designed a building for Credit Suisse bank in the 1990s but its work in the UK has been limited since then. It was one of the firms to miss out on the chance to design the new US embassy building at Nine Elms, which was won by rival US firm Kieran Timberlake.
- Goldman Sachs, Citigroup and Barcap have all rebuilt their European businesses since 2008. Where does this leave the rest? (news.efinancialcareers.com)
- Former Goldman Sachs VP Greg Smith could cash in with memoirs (shortformblog.com)
31 redundancies in Leeds and Manchester
Careyojnes Chapmantolcher’s two northern offices have gone into administration, resulting in 31 redundancies.
The London-based practice’s offices in Leeds and Manchester – collectively known as Studio North – will close as a result of a “greatly reduced workload”.
Joint administrator Mike Kienlen of Armstrong Watson said: “Careyjones Chapmantolcher is one of the best known architectural practices in the UK and has a national reputation for high-quality award-winning schemes.
“Eighteen months ago, the business adopted a new structure, dividing its operations into north and south. Unfortunately, the northern company has suffered particularly badly from the poor financial conditions in the property market which have delayed the start of many of its projects.
“Rather than waiting for cash-flow problems to escalate, the management has taken decisive action in order to protect as many of its creditors as possible.”
Tim Tolcher of Careyjones Chapmantolcher added: “The London-based group company will be maintaining and developing its national presence and continuing to provide a high level of service to all of our clients.”
Last April the practice submitted plans for student housing in Salford.
The George Osborne has delivered his to the , which includes the Government’s Growth Review Phase II and the National Infrastructure Plan.
The statement confirmed the plan to unlock up to £20 billion of private investment through signing a Memorandum of Understanding with two groups of UK pension funds, an additional £5 billion of infrastructure spending in this Spending Review period, and commitments to £5 billion of capital projects in the next Spending Review period. In addition, the Government is supporting around a further £1 billion of investment by Network Rail.
To make the UK’s infrastructure fit for the 21st century, the Government has published its National Infrastructure Plan 2011. The plan sets out a critical analysis of the state of the UK’s infrastructure and sets out a pipeline of over 500 infrastructure projects.
The key measures in the National Infrastructure Plan include:
- introducing a new approach to financing infrastructure, by leveraging £20 billion of private investment from pension funds;
- giving local authorities more flexibility to support major infrastructure by considering local borrowing to fund the Northern Line extension to Battersea, and exploring new sources of revenue, such as options for tolling on the A14.
- investing over £1 billion to tackle areas of congestion and improve the national road network, including £270 million for two new managed motorway schemes at congested times on the M3 and M6.
- investing more than £1.4 billion in railway infrastructure and commuter links, including £270 million for a rail link between Oxford and Bedford and £390 million on enhancement and renewal works to improve stations and infrastructure.
- investing £100 million to create up to ten ‘super-connected cities’ across the UK, with 80-100 megabits per second broadband and city-wide high-speed mobile coverage.
The Chief Secretary to the Treasury, Danny Alexander, will chair a new cabinet committee on infrastructure, to push through the delivery of the top 40 priority projects and programmes that are critical for growth.
The second phase of the Government’s Growth Review includes the following 'reforms':
- creating a £20 billion National Loan Guarantee Scheme, to lower the cost of loans to small businesses, and a £1 billion Business Finance Partnership, which will lend to mid-sized businesses and small and medium sized businesses in the UK through non-bank channels.
- increasing the Regional Growth Fund by £1 billion to provide ongoing support to grow the private sector in areas currently dependent on the public sector.
- an extra £600 million to fund 100 additional Free Schools, and an additional £600 million to deliver an additional 40,000 school places.
- introducing a new build mortgage indemnity scheme which will help up to 100,000 families to buy their own home, and launching a new £400 million Get Britain Building investment fund to progress stalled developments.
- providing £45 million of support to UK firms wishing to export, doubling from 25,000 to 50,000 the number of SMEs supported, and making similar support available to 500 mid-sized businesses.
- making 100 per cent capital allowances available in six Enterprise Zones (Black Country, Humber, Liverpool, North Eastern, Sheffield, and Tees Valley).
- making available around £250 million from 2013 to support energy intensive industries manage the costs of electricity, including increasing the relief from the climate change levy on electricity for Climate Change Agreement participants to 90 per cent.
- an additional £200 million for science capital investment.
- investing £55m into the Strategic Rail Freight Network to help deliver schemes that remove bottlenecks and improve capability and longer term connectivity to the UK’s major ports.
- giving a bigger role to businesses in purchasing vocational training programmes. In the New Year employers will be invited to bid for a share of a new £250 million government fund. This will route public investment directly to employers.
- taking decisive action to remove barriers to hiring by making reforms to streamline employment law.
- investing £10 million over five years from 2013-14 in Project Enthuse, matched by investment from the Wellcome Trust, to improve the quality of science teaching in schools
- announcing how the Government will maximise the value of public sector data.
- Osborne's Autumn Statement - what it means for your business (simplybusiness.co.uk)
- National News: Osborne to make autumn statement (coventrytelegraph.net)
- George Osborne's Autumn Statement Key Points (femaleimagination.wordpress.com)
- VIDEO: Osborne statement: Key points (bbc.co.uk)
In a rare insight into what makes a successful business, Insider asked some of the UK leading entrepreneurs for their top tips for true entrepreneurial growth.
1-Prepare to start a business. Save some money, clear your debts and cut back on non-essential expenses to give your new business the best chance of success. Make sure you also have the support of your family.
2-If you want to run your own business, do it! Start by running your own business in your spare time, so you can try out your idea without giving everything up.
3-If you are not comfortable with work totally taking over your world, then self-employment just isn’t for you.
4-A strong self belief, almost bordering on delusion, is a pre-requisite.
5-Be prepared to work harder than you've ever done before.
6-You must have a burning passion for your business, a passion that stops you from sleeping and that helps you develop a successful vision.
7-Very few people get to the top via short circuiting the system. Greatness requires an inordinate amount of time.
8-It costs nothing to get out there and get your business off the ground. If you believe in it then you can sell it, so go and do it.
9-If you didn’t learn to beg and borrow as a child and have a cheeky face, business success could be tricky.
10-Choose an industry or product that you feel passionate about. By doing so, you’ll naturally invest far more in its success.
11-It's all about doing the obvious before it becomes obvious to everyone else.
12-Know the market you are in and have the vision to look into the future of that market.
13-Set your business up with a purpose. This will help people buy into what you want to achieve and they will help to promote you.
14-Don’t wait for the one big idea – success often comes from 1,000 small improvements, which can be started today.
15-If you have to spend too long thinking about it, it’s not right: it should jump out and smack you in the kisser.
16-Work seven days while others are working five. Remember the only thing you get for free when you start a new business is your own time.
17-Naivety can be your biggest asset. It can push you along and break down obstacles.
18-Read about how other successful people achieved their success.
19-When you start, call in favours and keep in contact with people. Network like hell! Friends and business contacts will want you to succeed.
20-Get yourself a hang glider: a mentor who can hold your hand, overcome inexperience with good advice.
21-A mentor is an important person in giving feedback and ensures the business remains focused and challenged.
22-Never be too proud to listen to other people’s experience as it will save you loads of time and money.
23-Take the advice of anyone and everyone around you but never steer from your gut instinct when starting.
24-Never stop learning. Take on the advice and experience of those around you and always push yourself to be at the forefront of your industry.
25-Don't be afraid to change your mind if others have better suggestions.
26-Do what you think is right. No-one in the world knows what you know or has the experience you have.
27-Learn to observe; great entrepreneurs get inspiration by observing.
28-Stick to your knitting. It is very easy to lose sight of your goal and dilute your effort as the next great idea comes along.
29-If you don’t stand out, forget it. Commercial success is perfectly correlated with differentiation.
30-Craft a killer strategy to ensure that your business is differentiated among the competition.
31-Create a clear strategic business plan. This way you will be prepared for the worst.
32-You must constantly look to differentiate yourself from the competition. You must always aim to improve your product and the service you offer.
33-Develop a business plan that is realistic and sells your idea, your USP.
34-Execute, execute, execute that strategy.
35-Look at your proposition from the outside in and not the inside out. Don’t ask customers, use your gut instinct.
36-Embrace technology – small start-ups can access global opportunities like never before.
37-Follow the golden rules. Don’t sleep with the pay role and don’t employ friends – it’s always said, but it is true.
38-Thew majority of new businesses fail due to poor execution of the business idea. Do not underestimate the operating costs of your business.
39-Don’t compete on price. Instead, look to add value to your customer so you can sell at a higher price.
40-Cash is king. A lot of businesses fail because they run out of cash, not because they are bad businesses. Sometimes you have to say no to more orders, or obtain additional funding.
41-Bill early, bill often. If you can get some work done and billed quickly, you will need to borrow less cash.
42-Understand finance. Whatever the business, it is a fundamentally what drives the business forward.
43-A buyer or a seller? Most successful entrepreneurs love making money. Many of them hate (or at least find it difficult) to spend it.
44-Remember, a penny saved is a penny earned. Be hard but fair with your suppliers and fight for the best deal.
45-Profit is good, cash is king – when setting out ensure that you can see how it will be funded, even if and when things go wrong.
46-Always keep your eye on cash. Even if you’re not great at the finances, get to grips with dynamics of your cash flow.
47-Don’t be afraid to ask for your money. If you have a customer who you are unsure about, ask for pre-payment. Remember it’s not the business you do, it’s the business you don’t do that counts.
48-Never take your eye off the cash and really understand the working capital drivers.
49-Cash is important and it’s surprising how often people forget to manage it.
50-Think outside the box, for example, when making acquisitions we have sometimes paid the vendors in instalments.
51-Pay your bills on time, including taxes, and if you can’t pay on time, tell your creditors what you are going to do.
52-Being in business is about making as much profit as possible. If instinctively this feels “immoral”, then running a successful business is probably not going to be your forte.
53-Save for a rainy day. I would always recommend hanging on to some profits so you can weather storms.
54-Get professional advice. Be clear about your skills and expertise, and honest about where you should get professional advice.
55-Plan for the divorce. If you go into a partnership, always have an agreement drawn up.
56-Never, ever go into business with someone you don't like or trust. Even nice people can turn nasty when money is involved.
57-Go into business with some people you trust dearly and on an equal footing. They will be there to pick you up when you fall down.
58-Focus on culture and leadership development.
59-Delegate! Recruit people you can trust and allow them to bring new elements to your business. If you refuse to let go, you will stunt your company’s growth.
60-Recruit only the best.
61-Make sure you have said hello to the whole workforce before you start work, they often have innovative ideas.
62-Recruit people better than you, you don’t want to lead a mediocre team.
63-Never be afraid of your weaknesses. Surround yourself with the right people and team to plug your own downfalls. This will allow your strengths to shine.
64-Implement a system of FIFO: Fit In or F-Off! Give everyone the encouragement and opportunity to comply but, if they disrupt your business, get rid.
65-Engage colleagues in company decisions wherever possible. It will ensure staff loyalty.
66-Trust your team. Most of the time your faith will be repaid.
67-Tell the workforce everything and keep them constantly updated. This will smash the rumours and grapevines.
68-Having the right team and support allows the business to grow faster. Never be afraid to ask for help and never be afraid to be wrong.
69-You must build up a good team. You can be a good leader, but everyone must be on the bus and going in the same direction.
70-Trust your team and empower them. If they mess up once give them a chance; if they mess up twice then let them go.
71-Catching people doing things right and saying “thank you” costs nothing, but gives huge motivational benefits.
72-Work smart and don’t be afraid to charge a fair amount for your expertise and time. If you get this wrong you will end up being a busy fool.
73-Hold a 30-minute stand up meeting each morning at which information is exchanged and decisions made. Remove all meetings where decisions are not made.
74-If you get the right people, hang on to them and develop them.
75-Build a strong brand that people trust. You need to make sure that your company is doing everything it can to earn and keep their trust.
76-Be memorable -but the moustache and ponytail is my trademark.
77-Have a clear proposition that meets a need and is different from others. If you must be “me too”, on brand and service, not price – why would you want to be the cheapest?
78-Don’t be afraid to reduce the size of your potential customer base or market in order that you can know your customers better.
79-Talk to your customers. It’s important that you listen to feedback, but even more important that you act on it.
80-Think like your customer. Learn to understand their needs and then cater your offering to suit.
81-Remember that the better defined your customer base is, the easier it is to add value to them.
82-Align your business systems to give your customers real emotional value.
83-Stay very close to your customers. It ensures that you really know what's happening, which ensures good decisions.
84-Work on trying to get your customers to become your brand advocates. This is done by exceeding the expectations of customers.
85-Be generous with your time, advice and money. Whatever you do will multiply and eventually come back to you.
86-Build a strong relationship with your suppliers. If you don’t have a deep understanding, you will struggle.
87-Don’t give up. Business is about hard work, long hours and coping with the knocks. Very little is about luck.
88-Be persistent – never, never, never give up. I have stuck to my guns and succeeded.
89-Believe in yourself. Never let anyone say you can’t do it.
90-Be resilient, endure and survive. When you start for yourself, the highs are high and the lows are low.
91-Running your own business is a high risk adventure. It requires you to invoke qualities and skills you do not know you possess. You must have a strong belief.
92-Have the passion to see the seeds of an idea grow and flourish into a successful business.
93-A sense of humour, thick skin and the ability to continually pick yourself up, dust yourself down and keep charging forward is essential.
94-You won’t avoid pitfalls – you are bound to fall into a pit if you are taking risks. The trick is to learn from the mistakes and not repeat them.
95-Learn to adapt. The only thign to be uncertain about is uncertainty.
96-Adapt and evolve as you go, but at least set off. Get on with it and just do it.
97-Look for opportunities. There are opportunities in every market, even a recession. You just have to search hard to find them.
98-Stick to your ethics. You want your business to be around for a very long time and reputation is incredibly important.
99-Play it straight. Duck and dive if you must, but draw your moral line in the sand and don’t cross it.
100-Be honest: you can only lie to someone once. The suggestion that you have to be devious to succeed in business is a myth.
101-Advice is probably wasted on budding entrepreneurs as they rarely take it and they think they know best.
IDA faced gamble of winning £350,000 or losing £250,000.
Aukett Fitzroy Robinson has reached an out-of-court settlement with engineering consultant IDA in their legal row over unpaid fees.
IDA took the architecture practice to an arbitration court in Moscow in March claiming it had not been paid for more than two years.
It said it was owed £350,000 for design work on a 22-storey office tower in southern Russia.
But Aukett, the only architect listed on the London Stock Exchange, was reportedly owed twice as much by its client, Peresvet Region Kuban, which put the scheme on hold.
Now Aukett, headed by chief executive Nicholas Thompson, and IDA have issued a joint statement saying they have “amicably resolved their respective financial claim and counterclaim”.
It acknowledged that if IDA had lost the case it might have been forced to repay to Aukett the £250,000 advance payment it had already received.
The statement added: “Russia is a complicated market place and there are undoubtedly lessons to be learned from this case in the wider property services business. The parties confirm that this early resolution to the arbitration will enable them to continue to work together on future projects.”
Yechte Consulting finalises exterior renders for a Housing Association in Belgium.
Yechte Consulting finalises exterior renders for a Housing Association in Belgium.
Monthly RIBA survey shows falling confidence in new work.
Almost a quarter of architects expect their workload to fall, despite survey evidence of a stronger than expected recovery in the economy at the start of the year.
The figures from the RIBA’s monthly survey show that 23% of architects expect workloads to fall, with a balance of 9% more architects saying they were expecting to reduce rather than take on staff in future. In total architects were marginally positive, with the workload index staying at +8%.
Expectations of state of the housing and commercial markets became less optimistic, although both remained marginally positive, with a balance of +9% expecting housing growth and +1% expecting commercial growth.
This was offset by deepening pessimism over public sector workloads, with a balance of -22% expecting public work to increase.
Adrian Dobson, RIBA director of practice, said: “It is of concern that the positive growth trend in workload seen since December 2010 now appears to be somewhat running out of steam, with an increasing sense of uncertainty as to the future direction of travel for practice workloads.
“Practices in London and the South of England continue to be significantly more confident about their work prospects than those in the rest of the United Kingdom.
“Anecdotal evidence received this month focuses on a number of familiar issues, including delays and uncertainties in the planning system, intense fee competition and a general consensus that the situation remains very unpredictable, which affects confidence among both architects and their clients.”
Rescued architectural firm Archial has shut two of its 16 offices – but insisted the move would not result in job losses.
The firm, which collapsed into administration last month before being picked up by Canadian business Ingenium, has merged its Ipswich and Bedford offices into a larger operation based at Cambridge.
It said it would move into new offices in the city by the end of the year, with staff working out of a temporary base in nearby Histon till then.
An Archial spokeswoman said the practice was still going through a consultation process with staff which it would complete in the coming weeks. “However, any new potential redundancies are not envisaged,” she added.
Last week Ingenium chief executive Victor Smith said there were no plans to make any more redundancies at the business.