Month: July 2011

The EGIAN Position Paper in full (republished by permission) Quoracy.com fully endorses the views expressed in this document


Enlargement of the European Union (animation)
History of the EU

 

AN EGIAN POSITION PAPER

 

EGIAN SUPPORTS ROBUST REFORM PROGRAMME FOR THE EUROPEAN UNION AUDIT PROFESSION

PRINCIPLES AND ACTIONS

 

1 THE URGENT NEED FOR CHANGE

The creation of a more open vibrant market in the audit of large listed companies is urgently needed to protect and advance the public interest. If no action is taken, the currently excessive levels of concentration in this segment of the audit market in nearly all Member States of the European Union will very likely continue to rise even further, not least as a result of non-Big 4 firms being taken over by their dominant Big 4 competitors in key markets. An example of how to define large listed companies is set out at the end of this paper. Continue reading “The EGIAN Position Paper in full (republished by permission) Quoracy.com fully endorses the views expressed in this document”

UK Trade and Investment Initiatives to support business ventures to and from Poland


logo of UKTI
A message from UKTI

Martin Oxley sent this out for the Foreign and Commonwealth office and we are pleased to assist in its propagation.

Dear Quoracy.com subscribers,

Poland presents an attractive nearshore growth opportunity for Britain Plc. In line with the new UKTI strategy presented to government recently by Lord Green, Minister of State for Trade and Investment we are introducing a step change in the way UKTI supports British business growth.

We are taking a very proactive approach on behalf of government to provide a range of bespoke services to enable British SME’s to significantly enhance exports and also work with large corporations to win major overseas contracts and expedite their growth in market.

With our new Ambassador HMA Robin Barnett and the Embassy team we are engaging to support strong growth oriented business agenda in Poland.

With this in mind I am pleased to attach a brief outline of the services which UKTI has developed to support British business in Poland. I very much look forward to meeting you over the course of the coming weeks to discuss with you how we can assist you with your specific company needs.

I am very happy to visit you or alternatively you would be most welcome to visit us and I will provide you a tour of our excellent event facilities at the Embassy.

Kind regards

Martin Oxley

110715 EVR Expand your Business with UKTI Poland.pdf

Quoracy.com would also like to take this opportunity to congratulate our dear friend Martin Oxley on his recent new appointment to the FCO in Warsaw, and to wish him every success working with Her Majesty’s new Ambassador to Poland, His Excellency Robin Barnett. We wish you and your team many successes and a lot of fun.

Is your business in the “ivy league”?


variegated ivy leaves
'Hedera' of reference?

I was recently reminded of something my old gardener told me about ivy. I had been surprised at how slow some lovely variegated ivy that had been planted by my fence was coming on, and his words were as follows:

With ivy, the first year it is put in, it does nothing, it just sulks at having been put in a new place. The second year is starts to spread out horizontally along the ground by the bottom of the fence, and in the third year it starts to grow upward, like a curtain.

Wise words, from someone who knew his onions. And his ivy. It seems to me that this is a great analogy for many new businesses. Entrepreneurs obviously look for a rapid return on capital employed. They want their profits and the cash back to invest in the next thing. But nature takes its course with some businesses just like it does with the ivy, and you cannot rush it.

The first year, you have set up costs, people are getting used to each other in a new team with a new product, new identity. This is like the ivy “sulking” – just establishing a new root system and adapting to the chemistry of the soil and the direction of the light.

The second year you start to see sales pick up but the prices are not that good yet and also the volumes don’t allow the contribution to cover fixed costs. You get growth but you don’t get the profit. It is like the ivy growing along the ground by the bottom of the fence. It is obviously going somewhere, but you aren’t getting the effect of it yet.

The third year you reach a certain critical mass, you break even you start to nudge into profit, your cash flows turn the corner and you start paying back your seed finance. This is like the ivy making its curtain up the fence.

If the ivy survives at all, it will certainly produce the coverage in time. The same with these new businesses. They simply need to be nurtured and for nature to be allowed to take its course. If the soil is right, the light is there, and the water, the plant healthy, then it will do what it is programmed to do in its own time. Micro-managing it will not help. Restructuring the team which is only starting to gel will not help. it will be like transplanting the ivy at the end of the second year for failing to raise – it will only go through its sulking and creeping years all over again in the new position.