STOPPRESS
Confidence among small businesses is on the up
An international study by specialist global insurer Hiscox reveals a confident tone among small businesses, with two-thirds reporting revenue growth and 71 per cent expanding their customer base in the past year. The ninth annual Hiscox DNA of an
Entrepreneur Report is based on responses from 4,000 small business owners and senior managers in six countries: 1,000 each from the UK and US and 500 each from France, Germany, the Netherlands and Spain.
Firms in the US and Spain top the revenue
growth tables, while in the UK 61 per cent of firms report revenue growth – down slightly from last year, but the number reporting higher profits is up. Although 31 per cent of respondents say political instability is having an impact on their business, there has been a drop in the number of those who see Brexit as a negative. Economic recovery is finally being translated into solid jobs growth in the small business sector. One in six firms has added staff and
more than a quarter plan to hire in the year ahead.
Millennials are leading the upswing, with half of under-30s and 46 per cent of those aged between 30 and 39 saying they are better off than a year ago. They are also significantly more likely to be optimistic about the year ahead. Bronek Masojada, CEO at Hiscox, says: “The report demonstrates that small businesses
Driver Hire announces three joint venture franchises
Transport and logistics recruitment franchise Driver Hire has announced the completion of three joint venture franchises in Liverpool, Doncaster, and Maidstone and Medway. Before becoming her own boss, Jane Hough was the manager at Driver Hire Liverpool. She’s now joined forces with her husband, John, who was an area development manager for Driver Hire’s field-based franchise support team. She says: “Driver Hire gave me the option to buy into the business at very favourable terms. I’ve enjoyed two successful years here and – with Liverpool on the up and a massive amount of investment going into the city – I think there’s plenty of scope for further growth.” Meanwhile, Steve Bryan, who has extensive experience in road transport, agreed a joint venture arrangement to take over at Driver Hire Doncaster. Before this, Steve joined the Driver Hire Bradford team in 2015, after working in the armed services and as a goods vehicle driver and transport manager.
“I love working for Driver Hire,” says Steve. “I’m enjoying it even more now I am joint owner and a shareholder in the business.” Finally, Pete Pimperton, who joined Driver
Hire as manager of the Doncaster branch in 2013, accepted a joint venture opportunity at the Maidstone and Medway office. He says: “My wife is originally from Sittingbourne, so the decision to move was a fairly easy one. It’s a great opportunity and I’m really excited by it.”
Graham Duckworth, Driver Hire’s franchise
sales director, adds: “Driver Hire’s nationwide network of 101 offices mainly comprises fully franchised businesses; however, it continues to operate a small number of company-owned offices. “Joint ventures are somewhere between the two, with Driver Hire initially retaining 51 per cent of the business. They are generally only offered to people within the Driver Hire business. As joint venture partners, Jane, John,
are now getting their share of growth in all the countries covered. It shows there is also a new generation of risk-takers coming through who are clearly prospering. And it reveals for the first time there is a dynamic core of entrepreneurs, engaged in more than one business, who are likely to be leading the way with exports and innovation. These are the wealth generators on whom our future growth depends, and policymakers should take note.”
Steve and Pete become a joint shareholder and part owner of the business. There are, of course, opportunities for the partners to buy a greater share should they wish. “Joint ventures have worked extremely well at a number of other Driver Hire offices across our nationwide network. In each case our business partners have progessed from manager to a joint venture partnership and, eventually, have gone on to become very successful franchisees in their own right.” Established for over 30 years, Driver Hire
provides temporary and permanent drivers and other logistics staff to local and national organisations in both the public and private sectors.n
Pete Pimperton, joint venture franchisee for Maidstone and Medway
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