Sector Focus


BIRMINGHAM BUSINESS SCHOOL


Accreditation recognises Birmingham’s commitment to social responsibility


By Kirsty Smith Marketing Officer, Birmingham Business School


Birmingham Business School has been awarded Principles for Responsible Management Education (PRME) accreditation, a global movement to generate positive change by embedding universal values of social responsibility and sustainability into the academic institution. The accreditation


recognises the leading work of Birmingham academics with respect to researching issues of responsibility and sustainability in business and incorporating these values into teaching activities.


‘We are delighted to have received this award which recognises Birmingham’s leading research in this field’


Professor Glyn Watson (pictured), Dean of Birmingham Business School commented: “We are


delighted to have received this award which recognises Birmingham’s leading research in this field and commitment to developing strong leaders of the future.” Birmingham Business


School will now seek to build on the achievement of this accreditation and further develop thought leadership in this field.


Explore more research from the Birmingham Business School by visiting: www.birmingham.ac.uk/scho ols/business/research/index. aspx


50 CHAMBERLINK May 2017


Finance


Sponsored by: University of Birmingham


A boost in funding for community pharmacy


A West Midlands pharmaceutical business has expanded its network of pharmacies – thanks to funding from Barclays. The Raylane Group, which was


established in 1991, is a successful community pharmacy chain based in the West Midlands with five branches and 20 staff. The business has now completed


a £3m share purchase of Gary Barber Pharmacies Ltd, who have three branches in Cheltenham. As a result of the acquisition,


total staff numbers will double and the business will manage around 70,000 prescriptions per month. The company is owned by pharmacist Dinesh Patel, who joined the profession in the 1980s. In 1985, he acquired Hawne Pharmacy which he later incorporated into Raylane Limited as the business grew. Dinesh Patel, director of the


Raylane Group, said: “This acquisition supports my growth plans for the business and opens up new markets for us.” Funding for the acquisition was


provided by Barclays. Manoj Patel, relationship director


for Barclays in Birmingham said: “Dinesh has demonstrated his expertise in industry and has steadily grown his business over the years. “He continues to look for opportunities to expand both his chain of pharmacies but also the


L-R: Colin Rodrigues (Hawkins Hatton), Dinesh Patel, Manoj Patel


services on offer and we wish his every success for the future.” The company was advised by


Tourism sector faces high risk of insolvency


The financial resilience of the West Midlands tourism sector is being tested with news that almost one-in-three (30 per cent) local operators has an above average risk of insolvency. This is the highest percentage of any region in the UK and is close


to three points above the national average (27.2 per cent). These statistics form part of insolvency and restructuring body R3’s


monthly sector tracking report - compiled using Bureau Van Dijk’s Fame database - which also reveals an uncertain outlook for some West Midlands hospitality businesses. R3 points out that there is positive news for the region, however, as


the research reveals that the West Midlands construction sector is among the UK’s top regional performers, with fewer than one-in-four (23.6 per cent) businesses operating with an above average risk of insolvency. This percentage is surpassed only by Northern Ireland. R3 Midlands chairman Chris Radford, a partner at the Birmingham


office of Gateley plc, said: “These statistics paint a mixed commercial picture for the region. R3 advises that the monitoring of finances should remain a priority for business owners as they seek to weather all eventualities. If cash flow becomes a major challenge, it is imperative to seek professional advice sooner rather than later. Never be tempted to stick your head in the sand.”


lawyer Hawkins Hatton and accountancy firm Crowe Clark Whitehill.


Take five to talk about fraud


Seven in ten (72 per cent) people across the West Midlands are worried about their families falling victim to fraudsters. Yet two thirds (67 per cent)


admit they have never discussed the simple steps they can take to protect against financial fraud. New research was released to


mark Take Five Day – which saw all the major banks and other financial services join together for a national day of fraud awareness activity. HSBC marked Take Five Day by


opening the majority of its branches five minutes early and discussing fraud awareness with customers both in branches and on social media. Mike Finnegan, HSBC UK’s head


of customer experience, said: “Talking about fraud with loved ones and the best ways of protecting yourself is an important step in reducing fraud.”


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