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Navigating the Green Economy: Financial Solutions for Cannabis Entrepreneurs

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Navigating the Green Economy: Financial Solutions for Cannabis Entrepreneurs

The cannabis industry has experienced significant growth in recent years, presenting numerous opportunities for entrepreneurs. However, one of the biggest challenges faced by cannabis businesses is securing financing. Traditional banks and financial institutions are often hesitant to lend money to cannabis companies due to the federal illegality of cannabis. As a result, cannabis entrepreneurs have had to turn to alternative sources of funding, such as private equity and hard money lenders. In this article, we will explore the financial solutions available to cannabis businesses, the challenges they face, and potential opportunities for growth.

The Difficulty of Cannabis Financing

Due to the federal illegality of cannabis, most banks and traditional sources of financing are reluctant to provide loans to cannabis businesses. This leaves cannabis entrepreneurs with limited options when it comes to securing capital for equipment and day-to-day operations. Private equity and hard money lenders have become the go-to sources for cannabis businesses in need of funding.

Private Lending for Cannabis Businesses

Private lending has become a common practice in the cannabis industry, providing much-needed capital for equipment financing and working capital. Companies like Hauppauge-based National Business Capital (NBC) have been at the forefront of securing funding for cannabis businesses across the country. However, the cost of borrowing for cannabis businesses is significantly higher compared to non-cannabis businesses. Interest rates for equipment financing can range from 12 percent to 18 percent, compared to the 5 percent to 8 percent rates for non-cannabis businesses.

Alternative Sources of Capital

While private lending offers a solution for cannabis businesses in need of funding, it can be expensive in the long run. Giving up equity in an established business is often a cheaper option than relying on private lending. However, alternative sources of capital have emerged in the form of hedge-fund-type lenders that specialize in lending to cannabis companies. These lenders, primarily coming from the distressed debt lending world, are accustomed to taking on higher risks and charge higher interest rates to justify the increased risk associated with lending to cannabis businesses.

Challenges for Banks and Traditional Debt Lenders

Banks and traditional debt lenders face several challenges when it comes to providing loans to cannabis companies. One major challenge is the issue of collateral. The inventory of cannabis businesses is not considered useful collateral for lending purposes because a license is required to sell cannabis. This means that even in the event of a default and foreclosure, the collateral is essentially useless to the lender. Additionally, cannabis businesses often have weaker financial positions due to higher tax burdens and weaker collateral packages, making them riskier for lenders.

State-Funded Solutions

In some cases, state governments have stepped in to provide financial solutions for cannabis businesses. For example, the state of New York has established a $200 million debt fund specifically for new cannabis licensees. This fund offers loans at an 8 percent interest rate, providing a reasonable financing option without personal liability for business owners. State-funded solutions like this can be a great opportunity for cannabis entrepreneurs looking for seed money.

The Growing Demand for Cannabis Financing

Despite the challenges and limited options, the demand for cannabis financing continues to grow. More and more cannabis companies are reaching out to lenders like NBC for funding. This increasing demand highlights the need for more accessible and affordable financial solutions in the cannabis industry.

Importance of Financial Planning

With limited options for traditional financing, financial planning becomes crucial for cannabis businesses. It is essential to carefully consider funding needs, explore alternative sources of capital, and develop a solid financial strategy. Working with financial advisors and experts who specialize in the cannabis industry can provide valuable insights and guidance.

The Future of Cannabis Financing

As the cannabis industry continues to evolve, there is hope for improved access to financial solutions. With ongoing legalization efforts and changing attitudes towards cannabis, mainstream banks and financial institutions may become more open to providing loans to cannabis businesses. Additionally, the emergence of specialized cannabis banking solutions and cannabis payment solutions may offer alternative options for cannabis entrepreneurs.

Securing financing is a significant challenge for cannabis businesses due to the federal illegality of cannabis and the reluctance of traditional banks to lend to the industry. However, alternative sources of funding, such as private equity and hard money lenders, have emerged to provide financial solutions. While these options can be more expensive, state-funded initiatives and the potential for mainstream financial institutions to enter the cannabis space offer hope for improved access to affordable financing. Ultimately, careful financial planning and working with specialized advisors can help cannabis entrepreneurs navigate the complex landscape of cannabis financing and position their businesses for success in the green economy.

How to Save Money on Your Costs as a Business

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How to Save Money on Your Costs as a Business

Every business owner, regardless of the scale or sector of their operation, looks for ways to cut costs. After all, the path to profitability isn’t just about increasing sales; it’s equally about minimising unnecessary expenses. This article will offer valuable insights to help businesses save money in multiple areas. Whether you’re a startup looking to stretch every penny or an established company aiming for optimised operations, there’s something here for everyone.

Understanding the Fundamentals

It all starts with understanding your financials. Before making any drastic changes, it’s essential to have a clear picture of where your money is going. Break down your costs into fixed and variable, direct and indirect. This comprehensive view will provide you with a roadmap of areas where savings can potentially be made.

For instance, while fixed costs like rent might seem hard to change, you’d be surprised at how much can be saved by renegotiating leases or considering relocation to a less expensive area. Similarly, understanding your variable costs can shed light on consumption patterns and areas where wastage might be occurring.

Efficient Use of Technology

The initial investment in technology, be it software or hardware, might seem substantial. But the long-term savings from efficiency and automation can quickly offset these costs. Start by assessing your current tech stack. Are there redundant tools? Are you paying for features you don’t use? Such evaluations can help in consolidating your tech resources and reducing costs.

Now, rather than investing in new devices every time there’s a glitch, consider partnering with a reliable repair service. This strategy is especially relevant for businesses that provide employees with mobile devices. Instead of replacing a cracked screen or a malfunctioning battery, a repair could extend the device’s life by years, saving a significant amount in the process. You can partner with mobile phone and tablet repairs experts Likewise Repair, who can help bring life to your tech, meaning you don’t have to dispose of them!

By opting for repairs, you’re also contributing to a more sustainable business practice, cutting down on electronic waste. There is no reason why you shouldn’t explore repair options first, even if it turns out that it couldn’t be saved for whatever reason.

Repurposing and Recycling

This doesn’t just apply to mobile phones. Today’s businesses, particularly those in the tech sector, often find themselves with surplus equipment: old laptops, monitors, and other devices. Instead of discarding them, consider repurposing. An older computer can be transformed into a dedicated server for backup or a workstation for less resource-intensive tasks.

Moreover, there’s a growing market for used tech. Selling off old gadgets or trading them in when upgrading can offset the costs of new purchases. Besides generating a bit of revenue, you’re also playing a part in the bigger picture of sustainability. Every device reused is one less device ending up in a landfill.

Adopting Energy-Efficient Practices

One area often overlooked by businesses in their quest to save money is their energy consumption. By adopting energy-efficient practices and technologies, companies can realise substantial long-term savings.

Consider investing in energy-efficient lighting and equipment. LED lights, for instance, might have a slightly higher upfront cost compared to traditional bulbs, but they last longer and use significantly less energy. Smart thermostats can also help in optimising heating and cooling costs, adjusting temperatures based on occupancy and time of day.

Moreover, encourage employees to adopt energy-saving habits. Simple actions like turning off lights and equipment when not in use or using natural lighting when possible can accumulate significant savings over time. Such measures not only reduce your electricity bills but also minimise your carbon footprint, enhancing your brand’s sustainability image.

Implement Preventative Maintenance

Regular maintenance of equipment and machinery can prevent costly breakdowns and extend the lifespan of your assets. By scheduling routine checks and servicing, you can identify potential issues before they escalate, thus avoiding unplanned downtime and expensive repairs.

For businesses that rely heavily on equipment – be it IT hardware, manufacturing machinery, or vehicles – a preventative maintenance strategy is not just a cost-saving measure; it’s a necessity. Such an approach ensures that operations run smoothly, reducing the likelihood of interruptions that can affect productivity and revenue.

Employee Training and Cross-Training

While training might seem like an additional cost, it’s an investment with tangible returns. Well-trained employees make fewer mistakes, work more efficiently, and often come up with innovative solutions that can lead to cost savings.

Moreover, cross-training employees in different roles and responsibilities can save money in the long run. If someone is on leave or there’s a sudden spike in workload, cross-trained staff can step in, reducing the need for temporary hires or overtime. Such versatility not only saves money but also builds a more resilient and adaptable workforce.

Review Subscriptions and Memberships

In today’s subscription-based economy, it’s easy for businesses to sign up for various tools, services, and memberships. Over time, however, many of these subscriptions might become redundant or underutilised. Conducting a regular audit of all your subscriptions can unearth those that no longer serve a vital purpose. Cancelling or downgrading these can lead to instant savings.

Outsourcing and Remote Work

Labour is often one of the most significant costs for any business. But thanks to advancements in communication and collaboration tools, it’s no longer necessary for all your employees to work under one roof. Outsourcing non-core functions, such as customer support, data entry, or graphic design, can lead to considerable savings. Not only does it reduce overheads like utilities and space, but it also means you can tap into global talent pools, often at a fraction of the cost.

Remote work, a trend supercharged by recent global events, can similarly reduce costs. Without the need for a physical office, you can save on rent, utilities, office supplies, and more. Plus, studies have shown that remote workers are often more productive and happier, leading to reduced turnover and training costs.

Bulk Purchases and Negotiating with Vendors

Here’s something every business learns early on: buying in bulk almost always leads to better prices. Whether it’s office supplies, raw materials, or software licenses, purchasing in larger quantities can lead to significant discounts. However, ensure storage and inventory costs don’t offset these savings.

Relationship-building is crucial here. Regularly negotiate with your vendors and suppliers. Let them know you’re shopping around for better prices but also emphasise your loyalty and consistent business. More often than not, they’ll be willing to offer discounts to retain a valuable customer.

Streamline Your Marketing Strategy

Marketing can consume a large chunk of your budget. But with today’s tools and platforms, it’s easier than ever to measure ROI. Dive deep into analytics to understand which strategies are working and which aren’t. Perhaps that expensive billboard isn’t driving traffic, but your email campaigns are. By reallocating funds from less effective methods to those that show real results, you can achieve better outcomes without increasing your overall budget.

Cutting costs doesn’t always mean cutting corners. Through strategic decisions, consistent evaluation, and a proactive approach, businesses can significantly reduce their expenses without compromising on their offerings or values. It requires a keen eye, a willingness to adapt, and a commitment to long-term sustainability over short-term gains. In the end, businesses that master the art of efficient financial management position themselves for success, growth, and resilience in an ever-competitive market.

Alert: Surge in Private Number Plate Scams Circulating Social Media

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Alert: Surge in Private Number Plate Scams Circulating Social Media

Automobile experts have issued a stern caution to drivers, advising them to exercise caution when engaging in the buying and selling of customised license plates on social media platforms, citing a burgeoning risk of falling prey to scams.

Motorists run the risk of losing substantial sums, ranging from hundreds to thousands of pounds, should they decide to list their UK private plates for sale on social media marketplaces, as instances of fraudulent activities have been skyrocketing.

Plates4Less, a division of VRM Swansea, has unveiled the top three scams and rolled out a dedicated guide aimed at empowering drivers to shield themselves from potential deception.

The scams can be categorised into three prevalent types:

  1. Deceptive Buyer: A genuine buyer posts a ‘wanted’ advertisement. In response, a scammer tenders a tempting offer, and the transaction transpires in a private setting. However, the buyer is left empty-handed, having lost their funds in the process.
  2. False Buyer: A swindler posing as a purchaser persuades the seller to send them the certificate of ownership before any monetary exchange occurs. However, the sale never reaches completion.
  3. Ownership Impersonation: A scammer lists an item for sale that they do not rightfully own, often utilising another individual’s entitlement copy as faux proof of ownership.

Plates4Less, situated in Swansea, dedicates itself to facilitating the buying and selling of personalised number plates across the UK and Northern Ireland.

Antony Clark, the Marketing Manager at Plates4Less, expressed, “We come across scenarios akin to these on a regular basis, and their prevalence seems to be surging. Potential buyers should exercise utmost caution, verifying the legal ownership of the registration mark before parting with their funds.

“Our suggestion would be to conduct the transaction in person, whenever feasible. If a deal appears too enticing, it’s likely too good to be true,” he advised.

The uptick in these incidents can be attributed in part to shifts in government protocols, allowing anyone possessing a valid certificate number to promptly assign that registration mark to their vehicle. The link between the applicant and the registration mark is no longer requisite. Thus, individuals who inadvertently post their certificate online or encounter email breaches become susceptible to exploitation by scammers, who can use or sell the certificate at their discretion.

Many victims of private number plate theft only discover the crime long after when they attempt to utilise the registration mark, only to realise that it has been reassigned to another vehicle.

Plates4Less has rolled out a set of protective guidelines for owners of personalised plates:

  • Avoid Sharing Certificate Images Online
  • Safeguard Physical Documentation: Store it securely and periodically verify its validity.
  • Monitor Email Activity: Ensure that online accounts associated with the DVLA, containing plate details, haven’t been infiltrated by scammers.
  • Reputable Business Transactions: When selling or assessing the value of a number plate, resort to credible businesses. Research their reviews on third-party platforms.

Antony further affirmed, “In the interest of both parties’ security, we advocate utilising a trusted and fully accredited intermediary such as Plates4Less for a secure transfer of funds and merchandise. We offer a safeguarded and gratifying experience for both buyers and sellers. Transparency is paramount, and parties can rest assured that they’ll receive precisely what they’ve purchased at a fair price.”

UA92 selects preferred accommodation provider for students

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UA92 selects preferred accommodation provider for students

University Academy 92 has selected Academy Apartments as its preferred accommodation provider agreeing to a fixed term, nomination agreement.

Academy Apartments, built by Beech Holdings and managed by sister company Manchester Apartments, contains 90 luxury, studio and one-bedroomed units for students and graduates that has historically achieved 100 per cent occupancy rate since completion in 2020.

UA92 has agreed a long-term partnership with Manchester Apartments to house its growing student population citing the quality of product and excellent level of service provided by Manchester Apartments.

Jonathan Griffiths, director at Manchester Apartments, said: “This partnership demonstrates the success of this building and level of service my team provides. We’ve never had any occupancy gaps at Academy Apartments and UA92 has recognised this and put its confidence in us. Over the last few years of managing this building, we’ve had such great feedback from tenants and equally importantly, their parents who are confident of their children’s safety and comfort.”

Gareth Smith, UA92 Executive Director of Student Life and Strategy , said: “We’ve worked alongside Manchester Apartments since they developed this building and the company’s willingness to genuinely listen to tenants is top of the agenda. That’s why we now want to guarantee our students get this site before anyone else. The apartments were developed with them in mind, giving them what they really want from their home during their studies. It helps that the apartments are also 30 seconds away from campus!”

With an original GDV of £14 million, the development offers tenants fully inclusive bills, hyper-fast wifi, sustainable heating and fully furnished with top-brand appliances. Each apartment has been designed with young people in mind and offers affordable accommodation with a luxury feel. The building will now be exclusively for UA92 students and managed by Manchester Apartments.

Manchester Apartments has one of the largest selections of quality apartments to rent in Manchester for students, graduates and young professionals. With the highest levels of service for tenants, the business prides itself on responding to any tenants’ enquiries within 24 hours.

A personal tour of Academy Apartments by Gary Neville can be viewed here: https://vimeo.com/694898643

For more information on Academy Apartments and UA92 see: www.mapartments.co.uk/manchester/academy-apartments

https://ua92.ac.uk/discover-ua92/accommodation/

The City Recruiter Champions Gender Diversity With Two Senior Female Hires

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The City Recruiter Champions Gender Diversity With Two Senior Female Hires

A Manchester recruitment firm is challenging gender stereotypes in the industry after announcing two female additions to its senior management team.

The City Recruiter, which is hoping to quadruple its headcount by year end, is reshaping the landscape of recruitment with the appointment of Melissa Smart as the new Head of Operations and Danielle Finney as Head of Recruitment.

The duo, who are based at the company’s new HQ in Cardinal House, are experienced professionals who are determined to create a more supportive and inclusive industry as part of the firm’s gender equality strategy.

Melissa assumed her role as the Head of Operations in July and brings with her an impressive track record in recruitment spanning over 12 years.

Her career includes stints at renowned firms like Robert Walters Group and global recruitment consultancy, Resource Solutions, where she notably spearheaded the transformation of the EMEA direct sourcing function.

Melissa’s extensive experience in managing recruitment firms and executing large-scale programs has positioned her as a vital figure in The City Recruiter’s growth trajectory.

She said: “I’m really looking forward to helping the company in its next phase of growth. With a strategic emphasis on operational excellence, efficiency, and innovation, my role is to ensure our organisation is strategically positioned for success and establish ourselves as the premier recruitment firm in Manchester.

“Aside from this, I’m also committed to fostering a workplace culture that recognises and embraces the unique needs of working parents in recruitment, while also championing women in an industry that hasn’t always embraced diversity.

“I want to use my experience of being a working mum to reshape the landscape of recruitment because I understand that the challenges of balancing a fulfilling career with the responsibilities of parenthood can be demanding.

“I also want to create an environment where working parents can thrive, contribute, and excel in their roles while also prioritising their family commitments, which is something the firm values a lot.”

Newly promoted, Danielle Finney, has stepped up from her previous Talent Acquisition Manager role at the company and brings 14 years of recruitment experience to the table.

Despite facing similar challenges of raising a family throughout her career, Danielle continued to win accolades such as the Red Man award and becoming the North-West’s top biller at Adecco before moving to Vitality where she was promoted to Recruitment Manager covering Stockport and Bournemouth. She also supported overseas operations while successfully managing a team remotely during the pandemic.

Danielle, who started with the business in November 2021, will now play more of a strategic role at The City Recruiter and determine new processes, systems and KPIs for the business’ ambitious goals.

“I’m delighted to be recognised for my hard work and commitment to the company,” she said.

“I am also proud to see more women in leadership positions. Recruitment has historically been a male dominated industry, but my stance has always been getting the right person for the job, regardless of gender.

“Over the years I’ve had the pleasure of making a real impact on people’s lives both professionally and personally as placing someone in their dream job is incredibly rewarding.

“The City Recruiter has established strong partnerships with businesses and as we continue to grow our team of expert recruiters, the aim is to disrupt the global marketplace.

“With our senior leadership team, alongside new systems and processes being implemented, people can expect big things and I’m proud to be part of that. We have exciting times ahead.”

For more information contact 0161 383 2198 or email [email protected].

Cheshire Police urged to apologise for past homophobia

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Cheshire Police urged to apologise for past homophobia

The Cheshire police force is being urged to apologise for its past witch-hunting of the LGBT+ community.

The call comes in a letter to the Chief Constable, Mark Roberts, from the veteran human rights campaigner, Peter Tatchell. Copy below.

“The Cheshire police force was very homophobic in past decades and went out of its way to target consenting, victimless behaviour that harmed no one. It wrecked the lives of many LGBT+ people,” said Mr Tatchell, Director of the human rights organisation, the Peter Tatchell Foundation.

The PTF is spearheading the #ApologiseNow campaign, urging all Chief Constable to say sorry for past anti-LGBT+ witch-hunts.

The campaign was backed by the comedian and TV presenter Paul O’Grady before his death.

Mr Tatchell added, “I hope that a formal apology will be made to the LGBT+ community. It would help further improve LGBT+ trust and confidence in the police, which is what we all want.

“We do not expect an apology from the police for enforcing historic homophobic laws. What we are requesting is an apology for the often abusive and threatening way those laws were enforced – ways that would be deemed illegal and unacceptable today.

“Sir Mark Rowley has already said sorry on behalf of the Metropolitan Police and backed it up with a new LGBT+ plan for London and the appointment of LGBT+ Community Liaison Officers in every London borough. Similar apologies have also been made by the Chief Constables of Sussex and South Yorkshire.

Their stance is backed by the Chief Constable of Northumbria, Vanessa Jardine, in her capacity as the lead on LGBT+ policy among chief constables across the UK. She has written to all Chief Constables supporting calls for them to say sorry. The appeal for Chief Constables to apologise is also endorsed by the National Police LGBT+ Network of serving LGBT+ officers,” said Mr Tatchell,

Global E-KYC Market Projected to Reach €2,5B by 2030

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Global E-KYC Market Projected to Reach €2,5B by 2030

The Facts & Factors report has revealed that the global e-KYC market will surpass $2.7 billion or €2.5 billion by 2030. Notably, the market had a valuation of $1.5 billion or €1.4 billion in 2021. The report indicates a projected compound annual growth rate of 21.55 per cent from 2022 to 2030.

The report highlights key market players such as EverCompliant, Acuant, Jumio Corporation, Financial Software & Systems Pvt. Ltd., Onfido, Au10tix, Technologies Ltd., Trust Stamp, 63 Moons, Panamax Inc. and others

These organisations employ various e-KYC techniques, such as video verification, digital ID programs, and identity authentication and matching. They cater to a broad spectrum of end-users, such as insurance companies, financial institutions, banks, government entities, telecom companies and e-payment service providers.

In-Depth Analysis of E-KYC Market Segmentation

The global e-KYC market is expected to be spearheaded by North America, driven by the advanced digital and technical infrastructure in the US and Canada. These countries can implement e-KYC measures efficiently, and consumers have shown a high acceptance rate.

In Europe, the market is poised for growth due to increasing initiatives by national safety and financial regulatory bodies promoting e-KYC practices.

European companies leverage e-KYC systems that offer an improved customer experience and extend their reach beyond regional limits. In the Asia-Pacific region, the banking and financial sectors are witnessing increased investments, which are anticipated to drive significant growth. China’s banking Tier 1 capital has reached $3.38 trillion, indicating its robust position in the industry.

Geographically, the market is divided into several regions. The US, Canada, and Mexico mainly contribute to North America. In Europe, countries such as France, the UK, Spain, Germany, Italy, and Nordic countries (Denmark, Sweden, Norway), as well as the Benelux Union (Belgium, the Netherlands, Luxembourg), play a significant role.

The Asia Pacific region encompasses China, Japan, India, Australia, South Korea, Southeast Asian countries (Indonesia, Thailand, Malaysia, Singapore) and others.

The Middle East & Africa includes Saudi Arabia, the UAE, Egypt, South Africa, and other countries in the region. Brazil, Argentina and other countries contribute to the market in Latin America.

The global e-KYC market is segmented based on deployment mode, product, end-user, and region. The deployment mode includes on-premise and cloud-based solutions. The product segment comprises video verification, digital ID schemes and identity authentication & matching.

The end-users of e-KYC solutions include insurance companies, financial institutions, banks, government entities, telecom companies and e-payment service providers.

Evolution of Customer Verification: e-KYC Replaces Traditional KYC

E-KYC (Electronic Know Your Customer) is the digitised version of the traditional KYC protocol. It is a process that leverages technology to streamline and enhance the customer verification process in the financial industry.

Alongside KYC, another crucial process is AML (Anti-Money Laundering). AML regulations require financial institutions to monitor for and report suspicious activities actively.

KYC-AML audit is critical for banks and financial institutions to prevent money laundering, terrorist financing and other financial crimes.

According to KYCKR, 90 per cent of the largest banks in Europe have received sanctions for money laundering-related violations in the past decade.

AML and KYC compliance mishaps can cost banks millions of dollars. In 2021, organisations spent $1.4 billion or €1.2 billion on AML and KYC services, with fines totalling hundreds of millions of dollars.

NEW ONLINE PARTNERSHIP WILL SAFEGUARD THE FUTURE OF BUSINESSES

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NEW ONLINE PARTNERSHIP WILL SAFEGUARD THE FUTURE OF BUSINESSES

MOL – one of the UK’s leading digital learning platforms – is expanding its online offer with a range of the most in demand IT courses – delivered by NuYew Tech Academy – that promise to quickly upskill IT teams; safeguard organisations’ future and de-mystify tech for businesses.

Michael Bradshaw, MOL’s Commercial Director, explains the thinking behind the new partnership: “We live in a dynamic world where organisations have to quickly flex to accommodate new tech advances; adapt to ever-changing cyber threats and deal with a talent war as they struggle to retain their staff in a post-Covid world.”

A report by Security Intelligence* warns that the number of organisations with cyber insurance problems is set to double in 2023.

“Artificial Intelligence is moving at a fast-pace and organisations need to understand the benefits and risks to their businesses; how do they safeguard customer data for example, or link their business planning to tech advances, using data intelligence. Cyber threats are ever-present, fast moving, and predicted to increase again this year.  Understanding how to mitigate against these risks can be achieved by retaining and re-training existing teams.

“The cost of recruiting is high in terms of resource, time, and budgets. It’s far easier to retain talent and invest in upskilling current teams in the art of web development, cyber security and ethical hacking for example, than it is to recruit.”

The new MOL IT courses – delivered by NuYew – provide assurance, intelligence and upskilling in the world of cyber security, ethical hacking, data intelligence, software development, web development and cloud networking.

Jonathan Davies, Founder and CEO of NuYew Tech Academy comments on the new partnership: “”It’s a privilege to join forces with MOL, celebrated for its longstanding tradition of training excellence. With the integration of NuYew’s comprehensive IT courses—including cyber security, web development, and data intelligence—into MOL’s top-tier learning offerings, we’re laying a solid foundation for businesses to combat digital threats and harness the full potential of technology. Our joint effort is all about turning tech challenges into engines of innovation and security.”

With an advanced online learning platform, industry accredited qualifications and flexible courses based around business needs, these courses provide assurance for any organisation looking for solutions to their tech challenges.

For more information visit MOL’s website.

Loch Associates Group kickstarts major expansion plans by acquiring Sightscreen HR

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Loch Associates Group kickstarts major expansion plans by acquiring Sightscreen HR

Loch Associates Group, the South East’s leading multi-service law and HR business, has hit the acquisition trail by acquiring Sightscreen, an HR, training and coaching specialist operating across the South East.

The announcement follows the Group’s plans to grow its rapidly expanding HR business after witnessing continued growth and doubling turnover and its team over the past three years.

The acquisition of Kent-headquartered Sightscreen HR, owned by human resource specialist and Managing Director Ben Holt, adds professional coaching and leadership training services to Loch HR’s offering and is expected to increase its turnover by 20%.

Sightscreen HR, which has prestigious clients including the National Portrait Gallery, covers a range of consultancy services for businesses, supporting strategy, restructuring and policy changes, as well as management and leadership training, to recruitment and managing disciplinaries and grievances.

The transaction marks Loch Associate Group’s first acquisition since the business was founded in 2007. The business is planning to establish itself as one of the leading HR businesses in the South East and is actively looking for further HR companies to acquire in Kent, Sussex and London.

Pam Loch, Solicitor and Managing Director of Loch Associates Group, said: “Market demand has driven this acquisition as we are seeing an increasing requirement for specialist HR advice and support.

“The acquisition of Sightscreen will further enhance the HR, training and wellbeing services we deliver alongside our existing legal services through our expert teams. This year has seen strong and steady growth for Loch Associates Group and the acquisition and appointment of Ben are a key part of our growth strategy over the next 12 months, as we continue to expand and look for further acquisitions,” adds Pam.

To support the firm’s ongoing growth, Ben Holt has been appointed as Managing Director of Loch HR and Loch Training and Wellbeing, bringing 20 years of experience in HR and Leadership to Loch Associates Group.

Ben Holt, founder of Sightscreen HR and Managing Director of Loch HR, Training and Wellbeing, said: “Both companies have a shared vision in the level of service we want to provide for our clients – so it made perfect sense to align our HR expertise into one proposition that offers more. These measures will ensure we capitalise on that growth and continue to attract new clients.”

“By combining Sightscreen HR’s leadership coaching and consultancy with Loch Associate Group’s expert combination of legal and HR support, we will deliver an even more unique and industry-leading service for UK businesses,” adds Ben.

Loch Associates Group, which acquired Sightscreen HR for an undisclosed amount, is the only firm in the South East to offer a full suite of legal, HR, wellbeing and training services under one roof to help organisations manage their staff while protecting their business. Its services include Business and Employment Law, Immigration, outsourced HR support, Health and Safety Training and Wellbeing and Mediation Services.

Fisheries Development Oman Launches State-of-the-Art Fishing Vessel “Acila” to Enhance Sustainable Fishing Practices

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Fisheries Development Oman Launches State-of-the-Art Fishing Vessel “Acila” to Enhance Sustainable Fishing Practices
Fisheries Development Oman (FDO), a leading entity in the development of Oman’s fisheries sector, is proud to announce the launch of the “Acila” to the fleet of its subsidiary, Oman Pelagic. This remarkable vessel, built to the highest international standards, is a testament to FDO’s commitment to sustainable fishing practices and the economic growth of Oman’s fisheries sector.
The “Acila” is a cutting-edge Fishing Vessel constructed in 2023, proudly sailing under the flag of Oman. It is the 792nd creation of the renowned Zamakona Shipyard in Pasaia, commissioned by the esteemed Omani state-owned company, Oman Pelagic.
Measuring an impressive 84 meters in length, the “Acila” boasts a hold capacity of 1,800 cubic meters, making it ideal for operations in the Indian Ocean, where it will target various tuna species in international waters. The vessel’s propulsion system is powered by 2 x Guascor Energy SF480TA-SG engines, each providing 1250 kVA, and a Guascor Energy SF360-SP engine with a 360 6:1 reduction gearbox, delivering 1120 HP for auxiliary purposes. These engines, known for their efficiency and reliability, minimize fuel consumption even in the harshest conditions.
“The ‘Acila’ embodies our commitment to sustainable fishing practices and showcases our dedication to maintaining the highest quality standards in the industry,” stated Eng, Nabil bin Salim Al Bimani, Group CEO. “With this investment, we reinforce Oman’s position as an attractive destination for local and international investors seeking growth opportunities in the aquaculture sector.”
Oman Pelagic CEO, Dawood Al Wahaibi said, “With a gross tonnage of 2480t and a DWT of 1900t, the vessel is designed to operate efficiently, maximizing catch potential while minimizing environmental impact. This aligns perfectly with FDO’s core values, focusing on responsible use of renewable resources such as biomass and small pelagic fish, ensuring the long-term sustainability of the fishing industry in Oman”.
FDO is partnered in these developments by the Ministry of Agriculture and Fisheries and Water Resources in promoting the sustainable exploitation of Oman’s precious Fisheries resources for the benefit of future generations in Oman, extending the maritime heritage of Oman’s fishermen and fisherfolk.
The Sultanate of Oman has a long maritime history as a trading nation between Eastern Africa, the Indian sub-continent and the Arabian Gulf states. Oman’s 3,165-kilometer coastline gives Omani fishermen access to both the Sea of Oman and the Arabian Sea and a wide range of both demersal and pelagic fish species. Oman is the only net exporter of fish products in the GCC and has ready access to the growing GCC markets, notably UAE and Saudi Arabia, as well as worldwide markets for quality seafood products.
The “Acila” is not just a vessel; it symbolizes the future of Oman’s fisheries, exemplifying innovation, sustainability, and economic development.
“It is a significant step towards diversifying Oman’s economy and harnessing the immense potential of its fisheries sector, in line with the Vision 2040 objectives of Food Safety and Security for the Sultanate of Oman”, added Eng. Nabil Al Bimani.
About Fisheries Development Oman (FDO)
Fisheries Development Oman (FDO), the investment arm of Oman Investment Authority (OIA) in the fisheries sector, was established with a view to developing this key sector in the Sultanate by investing in profitable projects that could highlight its economic value to investors. FDO seeks to explore and invest in local and international opportunities and demonstrate the sector’s profitability and sustainability at a global scale, utilizing the Sultanate’s competitiveness in global markets.
Sustainability holds a crucial position in the business strategy of Fisheries Development Oman. The company strongly emphasizes the responsible use of renewable resources such as biomass and small pelagic to ensure the long-term sustainability of the fishing industry. FDO remains dedicated to driving economic development while preserving the environment, in line with its commitment to the community and shareholders.
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