We are delighted to launch issue 5 of Thomas Carroll’s business magazine ‘the Scene’, available for you to download today!
Sue Howell of Wye Valley Group takes headline news as the Scene learns more about one of the leading reclamation to demolition and metal processing groups in the UK. In addition, big brands; Yankee Candle, ACT Training, Vista Retail Support and Rainbow International provide insightful company profiles.
The Scene also offers advice from industry experts on some of the latest business hot topics such as; auto enrolment, fee for intervention (FFI), energy costs, financial security and jewellery valuation to name only a few.
Flick through our online version below or click here to download a PDF.
Alternatively, if your would like to request a free hard copy please click here.
We are delighted to launch issue 4 of Thomas Carroll’s business magazine ‘the Scene’. It’s available for you to download today!
Dylan Matthews of the Celtic Manor takes headline news where the Scene follows his journey from Canada to Wales and his devotion to the Manor. It also includes insightful company profiles of great Welsh brands such as Oil 4 Wales, VPS Valeting, Botanic Garden of Wales, Folly Farm and many more.
Our magazine also offers advice around the latest business hot topics such as Digital Disasters (Cyber Liability), Pension Auto Enrolment, MoJ Reform, Tax Planning, to only name a few.
Flick through our online version below, but if you cannot read the SCENE below, either click here to download a PDF or request your personal copy by emailing Laura Eedy email@example.com.
Enjoy the read!
Created by the Wales HR Network , the Wales HR Awards is a leading annual awards event that acknowledges and celebrates excellence within the HR profession across the country, and in a wide range of sectors.
Remember to come and say hello on the night!
To contact our employee benefits team, click here to email Tony Smith or call 02920 853764
The risk of debtor insolvency is an inherent part of owning a business. Sometimes your customers simply do not or cannot pay you—it is unavoidable, but not disastrous. Your business can survive such a loss by purchasing a trade credit insurance policy.
Trade credit insurance, or credit insurance, provides your business with protection against the failure of your customers to pay their debts and substantial delays in receiving their payments. What may seem catastrophic at first is completely bearable with adequate trade credit cover. Learn how to overcome the non-payment of customers’ debts with the following overview of trade credit insurance.
Reining in Customers
Purchasing trade credit insurance can help save your business from crippling bad debt. As globalisation continues to lengthen businesses’ supply chains and expand their customer bases beyond national borders, debtors and creditors continue to grow further apart. This makes it easier to lose track of your customers and presents more obstacles for their payments, such as government restrictions or political instability abroad. Trade credit insurance can protect against the various risks of trading across borders.
Not receiving customers’ payments on time—or at all—could be fatal for your business, but trade credit insurance helps transfer that risk. Policies typically cover about 90 per cent of customers’ outstanding debts, so the failure of one large customer or multiple small ones will not overwhelm your organisation.
There are two main types of trade credit insurance:
- Whole turnover covers the insured’s entire book of debtors, providing the maximum level of protection against bad debt.
- Specific account applies only to those accounts the insured feels are at risk. These policies may be subject to an increased premium, and are riskier than whole turnover cover, since the insured may choose incorrectly and fail to insure an account that defaults.
In order to be effective, trade credit insurance policies should be tailored to your business and list of debtors. Insurers typically offer extensions to provide a bespoke policy, including:
- Pre-delivery work in progress, which safeguards against the insured’s financial losses due to a customer becoming insolvent before work is completed but after the insured has incurred costs such as material or labour. If a project goes bust, the insured is not left to shoulder the debt and pick up the pieces.
- Supplier default, which protects against financial losses from a supplier going out of business. This includes the costs associated with finding new suppliers, the loss of advance payments to the defunct supplier and any possible fines or damages for late delivery.
Calculating Premium Costs
Insurers assess your business and determine your premium by considering your business’ risk, the amount of turnover you want to insure, your customer demographic, the overall state of your industry and your success or failure in past credit management. Your premium will likely increase if your customers are concentrated in one or two accounts rather than several. If you prefer a specific account policy, the insurer will investigate the credit worthiness of each individual account when calculating your premium.
Make sure to implement and maintain a stringent credit control policy. Any flexibility or instability in how your business administers and sustains credit will translate to higher premiums.
Depending on which cover you choose, you can arrange a policy for a fixed period of 12 months or for the duration of a specific customer’s contract.
Bespoke is Best | Contact Us
A clunky, ill-fitting trade credit policy will not benefit your business. Make sure your insurer offers bespoke cover that fits your business’ needs. Trade credit insurance is a small, specialised field that requires careful risk assessment. A precise assessment will create an effective insurance policy that keeps you above water when your customers go under. Contact your Thomas Carroll Account Executive and our experts today for more information on wielding bespoke insurance policies to shield your business from risk:
The inspections will focus on two of the main causes of ill health in the sector:
- 1. Occupational asthma, exposure to flour dust in bakeries, cake and biscuit manufacturers and grain mills.
- 2. Musculoskeletal disorders (MSDs), predominantly lower back pain and upper limb disorders from manual handling activities and repetitive tasks across the sector.
The HSE has stated that companies and people working in food manufacturing ‘must pay closer attention to how they manage workplace health risks or face serious penalties’.
Commenting on the campaign, John Rowe, HSE’s Head of Manufacturing Sector, said, ‘The food manufacturing sector is made up of over 300,000 workers and its health and safety record needs to improve. This inspection initiative will look to ensure effective management and control of targeted health risks.’
How can we help?
If you require further information please do not hesitate to contact us via email or call 02920 853794 and one of our consultants who specialise in the food sector will be happy to help.
Health and Safety Management Services
You may also be interested in our fixed cost Health and Safety Management Service which costs as little as £199 per month and will provide you with the framework to help your organisation manage health and safety effectively.
Our service is tailored to suit your individual culture, business practices and budget. We will ensure that you adopt a structured and systematic approach to the management of risk. Our service is designed to specifically to engage and empower your work force and help build a positive safety culture at all levels.
We will work with you to help ensure that your health and safety systems and arrangements are suitable for the level of risk you face. Our aim is to help you stay up to date and fit for the future.
Follow us on LinkedIn to receive daily updates: www.linkedin.com/in/lauren-dickinson-ba-hons-33aa0a109
If you have any questions relating to any of the above, then please don’t hesitate to contact Lauren Dickinson via email or call on 02920 853794.
Welcome to the eighth edition of Thomas Carroll’s business and lifestyle magazine, The Scene.
With an Eye on the Future, we felt it was time to refresh our magazine. Have a flick through above or request a free hard copy at firstname.lastname@example.org
Here’s a taster of what you can look forward to in this issue:
You will discover inspiring client stories of businesses grasping tomorrow’s opportunities, including; The Real Wrap Co, Stephens and George, Abergavenny Fine Foods, Development Bank of Wales and Techniquest.
A thought-provoking Brexit discussion, hosted by Professor Brian Morgan highlights the challenges it brings to businesses.
Chairman of the Welsh Rugby Union, Gareth Davies, gives us an insightful interview on creating success on and off the pitch.
We’re also delighted to feature advice on a number of industry hot topics including financial advice for business owners. Employment law and HR tips, along with guidance on insurance for real estate development and investments.
That’s not all. We celebrated our 45th Birthday with Thomas Carroll’s Got Talent and thanks to a big win at the Aviva Community Fund competition, the students of Islwyn Special Resource Base are now going out and about in a new minibus!
We hope you enjoy our future-themed issue!
What is Bomb Cyclone?
With temperatures around the US East Coast already close to freezing. Forecasters are warning of worse to come with a Bomb Cyclone due to deliver plunging temperatures, strong winds, blizzards and coastal flooding. This severe weather it is very likely to cause travel disruptions. Our advice is to plan ahead and speak to your travel operator.
The Bomb, which is a term for a severe storm. It is defined by a very specific and very extreme drop in atmospheric pressure is currently forming off the coast of Florida and is expected to sweep up through the entire eastern coastline. Forecasters warn of a minimum of 4 inches of snow and blizzard conditions in the New York and Boston areas.
Travelling to the US
If the Bomb Cyclone is affecting your travel plans, we recommend that you liaise with your tour operator for guidance in the first instance. Your insurance policy will detail the covers and emergency helplines available to you in the event of delayed departures, cancellations and curtailment as well as the criteria necessary for a claim to be met.
Thomas Carroll Clients
For assistance with a travel claim enquiry, please contact your dedicated Thomas Carroll Claims Executive or alternatively call our offices on 02920 887733 or email Claims@thomas-carroll.co.uk.
15% Off Health and Safety Training
Throughout January we are offering a 15% discount on all health and safety open courses running in 2018. Book online before the 31st January 2018.
Book your place today click here (t&c’s apply).
We are running the following courses next year in Cardiff and/or Swansea:
Safety for Directors
IOSH Managing Safely
Principles of Risk Assessment Training
For further information contact Lauren Dickinson or call 02920 88 77 33.
Terms and Conditions
- The organiser of this discount code is Thomas Carroll Management Services, Pendragon House, Crescent Road, Caerphilly, CF83 1XX. Registered number 0869707
- The offer will expire on the 31st January 2018.
- Only one discount code can be used per booking
- This offer only applies to our open health and safety training courses in 2018
- Employees of Thomas Carroll Group plc are not eligible for this discount
- Thomas Carroll Management reserves the right to change these Terms and Conditions at any time.
Under the bright lights of Taffs Well Ex-Service & Social Club’s main stage, we celebrated our 45th birthday with Thomas Carroll’s Got Talent – a night to remember!
Our birthday wish for the year was to raise £10,000 to sponsor a chemotherapy chair in Tenovus’ new Mobile Support Unit and through various fundraising activities, dress-down days and Thomas Carroll’s Got Talent, we’re almost there!
Help us reach our £10,000 target, click HERE to make a donation to Tenovus Cancer Care via our charity page
On the Night
It wasn’t until ‘lights, camera, action’ that we realised how many talented individuals have been hiding at Thomas Carroll. Hosted by Brynmor Williams and Rob Jones MBE (our very own Ant & Dec) seven acts consisting of musicians, singers, dancers and a comedian took the stage.
The celebrity judging panel consisted of Thomas Carroll’s John Moore MBE, Evan Thomas, Lina Iannucci and Sarah Jones, who did their best X Factor-inspired Simon, Louis, Sharon and Cheryl impressions.
Comedian Mike Davies, known better by his stage name ‘Will the Real Mike Davies Please Stand Up?’, had the crowd roaring and took home the trophy following a winning clap-o-meter result from the audience.
A hard one to call due to the sheer level of talent, The Full Ponty and The Chicken Supremes came in joint second place with Get Set for Jeanette coming third.
The Cover Notes, Sweet Carolyn and 1 Song Simon were named runners up and a charity raffle brought the entertainment to a close before everyone hit the dancefloor.
Thank you to everyone involved and those who supported the event in aid of Tenovus Cancer Care, a cause close to our hearts. What a way to celebrate our birthday.
To make a donation to Tenovus Cancer Care, click here to visit our charity page.
We would like to take this opportunity to wish you a Merry Christmas and Happy New Year from everyone at Thomas Carroll. Our opening hours over the festive period can be found below:
Friday 22nd – close at 12.30pm
Monday 25th – bank holiday
Tuesday 26th – bank holiday
Wednesday 27th – normal office hours
Thursday 28th – normal office hours
Friday 29th – close at 12.30pm
Monday 1st – bank holiday
Tuesday 2nd – normal office hours
During business hours, please contact our claims team on 029 2088 7733 for all notifications, or alternatively, refer to your dedicated claims executive via their direct line or email.
Please click here for information on how to report an out of hours claim.
In the latest edition of our MoneyWorks newsletter, Thomas Carroll Independent Financial Advisers highlight the following financial matters:
- Thinking about the unthinkable
Every year millions of people are hurt financially by unforeseen health issues, demonstrating the importance of having protection in place.
- Is it time to review your funds?
It might have once been the right place to invest, but the volatility of fund performance means that may not always stay true.
- Are you too reliant on the state pension?
For millions of today’s retirees, state pension is their main if not sole source of income.
If you wish to discuss the newsletter in more detail please contact Louise Eedy via email or directly on 02920 855244
In our latest brief Thomas Carroll Employment Law discuss a recent case whereby a self employed worker wins holiday pay.
The European Court of Justice (ECJ) has ruled that in certain circumstances workers must be able to carry over paid annual leave from one holiday year to the next in the potentially landmark decision of The Sash Window Workshop and another v King.
Mr King was ruled to be a worker by the initial Employment Tribunal, despite the self-employed commission only arrangement he had with his former employer. The ECJ consequently found that he was entitled to paid annual leave for the duration of his 13 years’ service.
Another notable point from this case is that the two-year ‘backstop’ on claims for holiday pay that has arisen out of other recent high-profile cases was deemed to be irrelevant.
In this case, it was determined that the liability on the employer to pay holidays in their entirety arises when the employee leaves their employment rather than during each holiday year. This means that the limitation date will not start to run until the termination date.
Some commentators are now suggesting that this may apply to other areas of holiday pay, such as claims for underpayments where businesses have not factored in overtime or commissions when their staff take annual leave.
This could have far reaching consequences for many businesses who engage self-employed contractors, who can be classed as worker, together with businesses who do not pay staff correctly when taking their holidays.
For further information, please contact email@example.com