Business News


Living standards under pressure


The Government must take action to prevent a further squeeze on living standards in light of the latest inflation figures, business leaders said. Although the Consumer Price


Index (CPI) remained at 2.4 per cent in May, petrol prices hit a three-year high, with motorists bearing the brunt of higher crude oil costs. According to the Office for


National Statistics, air and sea fares also rose between April and May this year but fell between the same two months a year ago. Raj Kandola, senior policy and


patron adviser at Greater Birmingham Chambers of Commerce, said: “Inflation levels remained steady this month, despite a number of economists predicting a slight upturn for May. “The Bank of England are likely to


accentuate the positives – the rate of inflation for the last couple of months is the lowest we’ve seen since for over a year and we are continuing to edge closer to the two per cent mark. Nevertheless, questions will be raised over the likelihood of an interest rate rise which was pencilled in for 21 August. “From a local perspective, we are


just about to close the surveying for our Q2 Quarterly Business Report. Last quarter, just over a fifth of manufacturers in Greater Birmingham cited concerns over inflationary pressures. We will be watching closely for the impact of these latest developments.”


Flexible workers call time on traditional leisure hours


The times at which people eat, go to the pub or work out at the gym are changing as the traditional 9-5 working day becomes less common, according to a new report. The report from Barclays claims


that although more than a quarter of hospitality and leisure businesses recognise this growing demand, opening hours are not keeping up with changes to modern working lives. Since leisure time has shifted, a quarter


of workers would now like to go to a museum in the evening (between 6pm-11pm), more than one in ten (13 per cent) film fans would choose to go to the cinema in the small hours (11pm-5am), and almost one in five (19 per cent) late-night diners would choose to get a takeaway after closing time (11pm-5am). By responding to these changing demands, the British hospitality sector could benefit from a further £6.75bn a year,


‘Leisure operators across the country could access £6.75bn per annum by accommodating their customers’ evolving needs’


which equates to 16.7 per cent in the West Midland’s region, in increased revenue. The new Barclays Corporate


Banking Hospitality and Leisure report, Open All Hours?, finds that only a third (37 per cent) of UK workers now work traditional 9-5 hours, with a fifth (20 per cent) saying they need different opening hours. Ray O’Donoghue, managing


director for Barclays Corporate and International in the Midlands Region at Barclays, said: “Adapting to the changing consumer demand presents a substantial opportunity for businesses. While that may be a challenge for some providers, understanding the value of the opportunity makes the prize more tangible. The current leisure environment does present a number of challenges for the sector’s businesses; the labour supply is challenged by Brexit, rent increases and food inflation are all set within the context of a competitive market which is already heavily discounting. “However, those that don’t


9- 5 is becoming a thing of the past, says Barclays


adapt risk being left behind. Businesses need to weigh up the value of the long-term opportunity over the cost of the short-term investment.”


New law firm takes on city’s property sector


A new national law firm has been launched in Birmingham, with a mission to shake up the property law sector. Realty Law will specialise in the recovery of service charges and ground


rent for management companies, managing agents and landlords. It will also deal with other legal issues faced by its clients. It will operate mainly in the residential leasehold sector but also within


commercial property and aims to offer a superior personal service within a complex area of law. Charlotte Collins, a property specialist with more than 30 years of


experience in commercial property and litigation has been appointed operations director. She joins from Midlands property law firm, SLC. Sanjay Sabharwal joins Realty Law from Rendall and Ritter, one of the


UK’s leading residential property management companies. A property investor with a Masters in banking law and financial regulation, Sanjay has managed more than 700 units in prime London locations including Canary Wharf and Tower Hill. Zainab Khatoon has been appointed executive assistant. Following her qualification as a solicitor, Zainab pursued a business development career and has since gained almost a decade of experience in the property management sector. Charlotte Collins said: “What will make Realty Law stand out from the


usual debt recovery practice, is that our services will not be delivered by faceless lawyers with whom our clients have little contact. “We are set up to provide clients with cost-effective, personal services


from an individual team specialist. Although a niche sector, I am excited by what we can achieve and am looking forward to growing the team.”


18 CHAMBERLINK July/August 2018 Property expert: Charlotte Collins


‘We are set up to provide clients with cost-effective, tailored and personal services from an individual team specialist’


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