SECTOR FOCUS: FINANCE
SPONSORED BY: UNIVERSITY OF BIRMINGHAM
Team excels in Hult Prize
By Kate Salter Marketing Officer
Top-tier schools have gone head to head in one of five regional finals of the world’s largest student competition, competing for $1m in start-up funding to solve Bill Clinton’s Early Childhood Challenge. A team from Birmingham
Business School’s MBA programme took part in the regional finals of the sixth annual Hult Prize, winning their heat and only marginally missing out on a place at the eight-week ‘accelerator’ in the US. The Hult Prize Challenge is
the world’s largest student competition and start-up platform for social good. In partnership with former president Bill Clinton and the Clinton Global Initiative, the innovative crowdsourcing platform identifies and launches disruptive and catalytic social ventures that aim to solve the planet’s most pressing challenges. The team members from
Birmingham Business School, University of Birmingham comprised James O’Toole (UK) who acted as team leader, Michael Akinyemi (Nigeria), Jessica Cho (Taiwan), Huixi Yu, Nina (China) and Ronnie Versher (United States). Dean of Birmingham
Business School, Simon Collinson said: “Earlier this year we were delighted to announce that a team from our MBA programme had been successful in reaching the regional finals of the prestigious Hult Prize Challenge. “Now the London finals
have taken place and we can once again congratulate our home team who excelled against significant competition to be ranked in the top six teams for the region. “It has been a fantastic
opportunity for our MBA team who have shone amongst the initial 20,000 applications.”
42 CHAMBERLINK JULY/AUGUST 2015
L-R: Chris Allen Lloyd, Martin Edmonds, Graham Donaldson, Steve Walker, Barbara Seaton, Andy King
The fine ART of success C
ommunity funder Aston Reinvestment Trust (ART) saw its total lending rise by a massive 77 per cent in the year 2014/15,
to more than £3.1m. This continues a significant trend that started in 2012
and demonstrates that there is an appetite among businesses across the West Midlands for borrowing and investing in the future. ART is a Community Development Finance
Institution (CDFI), which lends to businesses that are unable to get funding from the banks. ART often lends alongside the banks, as part of a
package of finance. Its loan fund comes from a combination of public and private sector support including social investment from individuals and companies keen to see the local economy thrive, creating and protecting jobs.
New site (L-R): Simon Freeman, Shabeg Chahal and Philip Hill of Barclays
Steve Walker, chief executive of ART, said: “Packages
of finance are becoming increasingly common, with a number of providers sharing the risk. “We lend £10,000 to £150,000 with an average loan
size of around £30,000. Other lenders specialise in either larger or smaller loans and it makes sense for us to work together.” At a time when the variety of options for finance
available to businesses can seem confusing, ART is seeking to clarify its position and make it easier for potential customers to see whether its type of finance is right for them. Mr Walker said: “We are changing our name and
launching a new, more interactive, website. The new name, ART Business Loans, will make it more immediately apparent what we do. We lend across the West Midlands, in every business sector.”
Mazars opens up German market
West Midlands businesses now have a gateway into the German market following the merger of Mazars in the UK with German audit and tax consultancy Roever Broenner Susat. As a result, the international
accountancy firm has set up a ‘German desk’ to advise companies seeking to expand in Germany. The new team includes staff from
Mazars’ Birmingham office. Birmingham partner Ian Holder
Space for firm to grow
A West Midlands carrier company has purchased a plot of land to aid its expansion plans, thanks to financial support from Barclays. Cargo Carriers (Midlands) Ltd has purchased the 2.5 acre site at Bagnall
Street in Tipton from Sandwell Council. The additional space will be used to house extra vehicles. Located centrally near to junction one of the M5 motorway, Cargo
Carriers operates a fleet of company owned vehicles. The business is a family firm, with five brothers involved in its management. Shabeg Chahal, director of Cargo Carriers (Midlands) Ltd, said: “In order
to meet the growing demand of our customers, it became necessary for us to find additional land to accommodate our client’s vehicles. This site met our requirements and with Barclays help, we were able to act swiftly to complete the purchase.”
and tax director Vesko Petkov, who speaks fluent German, will be part of the team. Mr Holder said: “The new
German desk will be able to put Midlands companies directly in contact with our German colleagues who work in and understand the local marketplace. “Working as a seamless team, we
can now offer structured advice for UK companies seeking to gain competitive advantage in Germany by launching with all the groundwork done and their preparations in place.”
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