SECTOR FOCUS: FINANCE


SPONSORED BY: BRASSHOUSE TRANSLATION AND INTERPRETING SERVICES (BTIS)


Firms urged to review life assurance policies


The language of business


By Carl Marshall Head of BTIS


Following very positive feedback from an earlier piece of recording work in 13 languages, Brasshouse Translations and Interpreting Services (BTIS) has again been commissioned to provide translations of advertisements and voice- over recordings in Bengali, Cantonese, French, Gujarati, Hindi, Sylheti, Tamil and Urdu languages for a major national awareness campaign. The commissioning


advertising agency, the Central Office of Information and its sub-sections, closely monitored our production process, putting BTIS’ multilingual recording staff to the test with regard to accuracy of translation, pronunciation, accent, clarity and expression. Rigorous recording deadlines had to be achieved. The complex and varied information exchanges put BTIS’ project management skills to the test. BTIS was able to offer


advice and guidance on the languages used, on grammar and on the tone of the language. Through liaison and consultation with the client and their focus groups to produce a series of recordings the customer’s needs were met and the information was accurately conveyed throughout the range of languages. This is a growing area of


work for BTIS as advertisers and governmental agencies become aware of the changing demography of the community. This, combined with the growing awareness that the printed word is not accessible to people who do not have literacy skills. BTIS looks forward to


developing this specialist area of work with its extensive portfolio of business customers.


For further information call BTIS on 0121 303 1619


40 CHAMBERLINK NOVEMBER 2011 A


shocking number of businesses are totally unprepared for the loss


of their owners or key employees through death or serious illness. Now, a Birmingham firm of


chartered financial planners is urging business owners to take urgent action to tackle the issue, by reviewing their company’s life assurance plans. Stratford Road based Chatfield


Private Client said that a recent survey by the Institute of Directors and Legal & General found that more than half of companies surveyed had no insurance policies to cover the death or serious illness of a business owner or key employee.


Jason Ashman: a matter of life or death


Jason Ashman, a director of Chatfield Private Client, said: “The company’s articles of association should provide the legal framework for ensuring that on the death of a shareholder their shares do not pass to the wrong person. “However, although the articles of


association provide the legal framework, it is useless if the remaining shareholders do not have the cash to exercise their right to buy. “Without the cash, the surviving shareholders would be unable to exercise the option and the shares may well pass to the deceased’s next of kin who may offer little or


no value to the running of the company. “There is a simple, cost-effective option giving


‘There is a simple, cost-effective option giving control back to the remaining shareholders: life assurance’


When it came to small businesses, three quarters had no cover. Chatfield said that one of the big issues which a lack of cover could lead to was the problem of surviving shareholders being able to take the reins.


control back to the remaining shareholders – life assurance. The exact structure of such policies can vary though at its simplest level, each shareholder’s life is insured with any benefits payable to the company in event of death. “The company would then have the cash to buy the


deceased’s shares from his or her estate, the remaining shareholders retain control of the company, and the deceased’s beneficiaries receive fair value for their shares and a clean break.”


SMEs: we are not a Government priority


Nearly all of Britain’s small companies believe that the Government has no interest in them, according to a new poll. The survey, by accountant BDO and the Quoted Companies Alliance (QCA), the representative body for the UK’s small and mid-cap quoted companies, sought the attitudes of businesses to the current economic situation. The results were largely negative, with one of the worst being small and mid-cap companies’ belief that they received no governmental support of any note. Just four per cent of companies


Patents Court sees cases surge


A new specialist court is doing brisk business after encouraging companies to become more aggressive in protecting themselves from rivals out to steal their ideas. The court is the Patents County


Court, which was introduced a year ago to help businesses defend their intellectual property (IP) rights. One of the big changes the court


Hamstrung: John Stephan


surveyed believe that the UK government views small and mid-cap companies as a priority, a figure described by BDO as ‘paltry’.


‘Mid-cap companies evidently feel hamstrung’


The survey also revealed that these companies felt that they were being hindered by the attitude of their own capital markets towards them. A massive 76 per cent of those surveyed said that their growth plans


were being hit by a lack of liquidity, meaning that they were unable to raise the funds they needed from the stock markets and bond markets. Birmingham BDO partner John Stephan said: “Mid-cap companies


evidently feel hamstrung – our clients tell us they’re delivering to their targets and their growth plans are sound but this isn’t reflected in the valuations they get. The capital markets must recognise results and give appropriate valuations to ensure businesses have a chance of achieving their growth potential at a time when the economy needs it most.”


introduced was the capping of costs, so that liability would not exceed £50,000, even if a business lost its case. Midlands law firm Shakespeares said that this measure had led to a surge in cases brought before the court, as businesses set out to stop rivals copying any innovative products they may have. Shakespeares IP lawyer Nick Briggs said: “Over the past 12 months we have noted a steady increase in the number of SMEs willing to enforce their IP rights through the Patents County Court. “Under the new system, the


Patents County Court is not only able to hear cases much more quickly, it is also less expensive to bring an action and the risk of incurring significant and uncertain costs liability is considerably lessened. This makes budgeting much more certain.


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