Brought to you by Buckworth SolicitorsIssue 01 | Autumn 2014 | Quarterly

London Calling

SEISOur quick guide to the tax relief scheme

STANDSEVENLuxurious and ethically sourced products

CODINGThe current buzz word for government and business

AUTUMN TRENDSThe latest fashions from True Gent and Raishma

ROBIN HOODA call for more taxation?

TECHNOLOGYAn interview with the DIY Doctor

£5 where sold

startuproar.co.uk

Michael Buckworth on London as a startup hub

After months of planning, hard work and copious amounts of coffee, we are proud to present our brand new quarterly publication, StartUp Roar.

StartUp Roar will bring you the latest happenings in the world of startups. Some of the coolest, most innovative and interesting startups will be showcased in our pages along with helpful background information and content from industry professionals. In addition, we aim to inform and educate entrepreneurs on relevant legal and finance matters ranging from incorporation to investment rounds.

In this very first issue, we spoke to the founder of consumer champion DIY Doctor, sampled some nutritious wheat free high protein goods from CheekyByNature and reviewed products from StandSeven, Raishma and True Gent.

StartUp Roar is published by Buckworth Solicitors which is the only law firm in the London market working solely with startups and early stage businesses. In publishing StartUp Roar, Buckworth hope to showcase some amazing entrepreneurs across Britain and provide resources and advice to encourage new entrepreneurs to take the plunge.

I hope you find StartUp Roar informative and enjoyable. Happy reading!

Miles AlexanderEditor

Dear Reader HELLO

32

Call out the DIY DoctorAn interview with Mike Edwards,

founder of DIY Doctor.

What is DIY Doctor?

DIY Doctor is a home improvement

help and advice website which uses

trade knowledge to give consumers

help with completing their home

improvement projects. We also have

a huge online shop where we help our

customers choose the right tool for

their job from the mass of tools which,

to the layman, may all appear to do the

same job.

If the project is too tricky for the

consumer, we find them a qualified,

insured tradesman and offer them

a free service which guarantees

protection against cowboy builders.

We also help them price the

project so they know what to

expect in terms of cost and stop them

overspending by showing them videos

on the best and most cost-effective

ways of doing the job, as well as videos

on which tools to use.

Everything we do uses our trade

background to get the consumer

to the right place, safely, for the

right price.

Where did the idea for DIY

Doctor come from?

I ran a building company for twenty

years. I had promised a customer

that her built-in bookcase would be

finished by Friday night. She changed

her mind so many times I ran out of

timber. I “flew” round to the nearest

store to buy some more.

Following a trip to the nearest home

improvements store, I realised that

there might actually be a better way

for customers to find out how to do

their DIY without the hassle of visiting

a DIY store.

I had already realised that consumers

were not looked after in either DIY

stores or builders’ merchants. The

process of any kind of construction was

a nightmare for them. This, together

with an influx of cowboy builders, was

leading to some disasters in the home

as people tried DIY rather than risk

being ripped off by a cowboy builder.

“I knew a little about marketing and knew that the customer must come first. However, the home improvement industry did not appear to be doing that.”

CONTACTS

T. 020 7952 1721

E. editor@startuproar.co.uk

W. www.startuproar.co.uk

StartUp Roar is published by Buckworth Legal Services Limited trading as “StartUp Roar”, 200 Aldersgate, St Paul’s, London EC1A 4HD.

All statements and opinions contained herein are those of the writers and content contributors and do not reflect the opinions of Buckworth Legal Services Limited. Any content of a legal or financial nature contained in this magazine is published by way of guidance only and shall not be deemed to constitute legal, accountancy, tax or financial advice. No content contained herein is intended to be, nor shall be interpreted as, a financial promotion. No advertiser or subject of any articles is or shall be deemed to be making or communicating any inducement to engage in investment activity of any kind.

Buckworth Solicitors specifically disclaims any liability for losses, damages or other expenses incurred by any person as a result of reliance on any statement in this magazine.

Copyright 2014. All rights reserved.

No part of this magazine may be reproduced, stored in a retrieval system or transmitted in any form or by any means, without the prior written consent of Buckworth Solicitors.

Stand Seven – 28Acquire elegance and support good causes

WatchFit – 32Is fitness the new tech boom sector?

Sumak Travel – 36Visit Rural Argentina

CheekyByNature – 34The three-way that won’t get you into trouble

Raishma – 24Be the belle of the ball

True Gent – 26Be seen in the finest threads

DIY Doctor – 5An interview with the founder and DIY Doctor himself

Bring on the Robin Hood Tax – 8Ethical Currency call for a transaction tax

How Important is Coding in Schools? – 10 A look at coding in schools

Cubetto – 13Introducing the coding toy for young children

London Calling – 20Michael Buckworth discusses the future of London as a startup hub

FEATURE

SEIS – 17A quick guide

LEGAL

TECH

FASHION

LIFESTYLE

Gaming on the Go – 13 Bringing coding up-to-date

TECH CONTENTS

54

So that’s the problem. What was

the solution?

I asked a friend who specialised in

websites to build a Q&A website where

my tradesmen and I could answer

DIY questions for the general public.

I knew this service would get attention

and would be valuable to consumers.

I knew it would also highlight my

building company and offer very warm

leads should a customer decide not to

DIY and get a tradesman in.

DIY Doctor had been conceived,

although not built, when I wrote to

Homebase and offered the service to

them. They loved the idea and in early

1999 we became Homebase’s DIY

Doctor for a three-month trial period.

When the trial ended – having

answered over 2,500 questions for

them, and pointed the questioners to

Homebase products, I felt that I had

proven DIY Doctor was a valuable

business and that its services were

in demand. And so, I decided to run

the company independently and it has

been that way ever since.

What happened next?

DIY Doctor became bigger than my

building company within six months,

so I sold the building company and

focussed on DIY Doctor.

I had become aware that consumers

were disenfranchised when it came to

getting DIY help. I knew a little about

marketing and knew that the customer

must come first. However, the home

improvement industry did not appear

to be doing that.

I quickly realised that

consumers were

frightened to death of

choosing a builder so DIY Doctor gave

them some guidelines. We wanted

to offer them a watertight building

contract that they could use for free,

and remain safe. We knew enough

cowboys ourselves to know that

cowboys don’t sign contracts!

I went to Buckworth Solicitors for

help with the contract and Michael

Buckworth and I got on immediately.

It was great to work with a firm which

made every attempt to accommodate

the client’s wishes rather than impose

their own will.

We put the contract together between

us and it has worked brilliantly for 4

years. Thousands of homeowners

have thanked us and we like to believe

we have cured many sleepless nights.

The process of being the homeowner’s

friend helped us gain trust in the

business and DIY Doctor simply grew

and grew.

So what next?

We are still growing and we have a

hugely specialised team in charge.

I have a great business partner and I diydoctor.org.uk

“The BBC and Watchdog has labelled DIY Doctor as Industry Experts.”

can now focus on my

main love, marketing.

The BBC and Watchdog

has labelled DIY Doctor

as Industry Experts so

DIY Doctor has made

national TV and radio – my

primary goal when I set out

15 years ago.

We also tour the UK presenting

our own stage at trade shows and

showing consumers how to plaster

walls, tile bathrooms and, most

importantly, avoid cowboy builders.

TECH

6 7

Bring on the Robin Hood tax

Forty years later, eleven EU member

states including France and Germany

announced that they wished to

move ahead with introducing a

financial transactions tax similar to

Tobin’s proposal called the “Currency

Transaction Levy”. The UK in particular

has opposed introduction of the tax as

the government believes that it would

harm the City of London.

But not everyone in the City of

London agrees. Ethical Currency, a

new British foreign exchange broker,

has voluntarily decided to donate

0.01% of its per-transaction profit to

good causes, effectively adopting the

Currency Transaction Levy.

Founded by foreign exchange trader,

Alastair Constance, Ethical Currency

aims to encourage governments and

international businesses to commit

to the widespread implementation

and delivery of ethical approaches to

business. By showing that one business

can flourish whilst donating a small

portion of its profits to worthwhile

causes, Ethical Currency hopes that

there will be less reason to object to a

wider implementation of the Currency

Transaction Levy, whether on a

mandatory or voluntary basis.

As the song goes ‘Money Makes the

World Go Round’ and FX brokers

sit in the middle of huge numbers of

cash movements. As such, ethical

brokers like Ethical Currency are

perfectly placed to change the way

that we think about and treat money

and to encourage us all to transact our

business and financial flows through

companies who are willing to tax

themselves and create innovative, new

and sustainable sources of funding to

fight global poverty. They believe that

finance could and should be a force for

good in the world.

It is this kind of thinking that has the

potential to create a revolution in the

manner of support for worthwhile

causes. Particularly in the current

economic situation where donations

and grants to charities have been

dramatically reduced, a small

transactional levy would provide

substantial support to good causes

whilst going almost unnoticed by

businesses and consumers.

Ethical has chosen four charities

to which it donates: Animals Asia

is devoted to ending the barbaric

practice of bear bile farming and aims

to improve the welfare of animals in

China and Vietnam. Great Ormond

Street Hospital is an international

centre of excellence in childcare.

Half the Sky was created in order to

enrich the lives of orphaned children

in China. Finally, Msizi Africa cares for

over 1,000 children in Lesotho and

South Africa.

Whilst many may dismiss the per-

transaction donation adopted by Ethical

Currency as a futile push towards

an ideal which, though worthwhile,

will never be achieved in the world’s

financial markets, Ethical Currency

believes that one small business really

can drive change in business. 0.01% at

a time.

“As funding for international development becomes more scarce, we need to be creative about finding new and sustainable sources of income. If consumers vote with their business then they will prove the commercial case and force a structural change in the global financial architecture.”

ethicalcurrency.com

TECH

Back in 1972, a Nobel Laureate economist called

James Tobin proposed a transaction tax on all

spot conversions of one currency into another.

The idea of the tax was to cushion exchange

rate fluctuations by dissuading speculators

from trading currencies. Tobin proposed that

the cash raised should be used as aid for

developing countries.

“We got tired of waiting for governments and huge financial institutions to commit to implementing a CTL so we figured that we’d go right ahead and do it to prove that it is viable and that companies, NGOs and consumers would choose to transact their business through a socially conscious company.”

Alastair Constance, Founder

8 9

O v e r

the past decade,

the technology sector in the UK

has seen unprecedented growth.

According to research from Deloitte,

7 in 10 people in the UK now owns

a smartphone with Generation Y –

those aged around 25 to 30 – being

the most likely to own a smartphone

at 89%. Employers and customers

increasingly require 24/7 contactability

and

business is

constantly looking for ways to improve

efficiency and profit through its use of

technology. As a result, the demand

for app and software developers has

dramatically increased.

At the same time, business and

government have highlighted the lack

of appropriate technology skills in

the labour market. So, how do we

ensure our next generation has the

requisite

technology skills

to keep Britain at the forefront of

technological innovation?

On 2 September 2014, the Daily Mail

published an article which stated that

25% of adults believed that they could

not successfully complete the new

proposed computer curriculum aimed

at 5 year olds. One of the key changes

to the curriculum is the introduction

of lessons on coding. Coding, until

now, has been omitted from the

compulsory ICT curriculum with the

How important is it that coding is taught in our schools?

result

that many young

people have left education unable

to code.

Coding specialists are thriving in the

current job market. Their services

are so in demand that top technology

companies and emerging tech startups

are offering impressive salaries and

unrivalled job security. The emerging

UK tech sector is desperate for

coders and developers and is looking

to education policy to ensure that

increased demand for them will be

met over the next 5 to 10 years.

This acknowledgment that coding is

now a crucial skill for the workplace has

lead

to a number of

startups seeking to fill the gap left by the

current curriculum. Of these, Code

Club (https://www.codeclub.org.uk)

has been particularly successful. Code

Club is a nationwide network of free

volunteer-led after school coding clubs

for children aged 9-11. Code Club

creates projects for their volunteers

to teach. The projects are designed

to teach children how to program by

showing them how to make computer

games, animation and websites. Claire

Sutcliffe, CEO of Code Club, said “Our

goal is to inspire children to build their

ideas, learning along the way. We want

children to leave Code Club inspired

to pursue other digital marketing

activities, whether that’s in their spare

time, in school or as a career.”

That ethos

has certainly struck a chord as

Code Club operates 1900 volunteer

led clubs throughout the United

Kingdom teaching approximately

30,000 children to code since

September 2012.

Coming from a different perspective

are Drumroll HQ (www.drumrollhq.

com), a very early stage startup

who develop simple games to help

teach young people to code. Their

first game, “Erase All Kittens” is an

open source platform game which

encourages players to hack into levels

in order to complete the game.

Gamification of education is a growing

theme amongst education startups

and is an interesting extension to more

traditional education methods.

TECH

1110

In the words of Joe Dytrych, Chief

Button Presser of Drumroll, “Young

people are spending more and more

time online, often playing games.

Creating games that teach players

basic coding skills – especially if you

can do it without them really realising

that they’re learning – is a great way

of getting people super engaged with

learning code.”

But at what age can we start to teach

our children the skills of coding?

London-based startup (www.solidlabs.

co) has developed a robotic toy playset

which teaches young children between

2 and 5 years old coding logic. The

playset is made up of a simple board

into which the child can insert wooden

pieces with different shapes. Each

shape represents a different instruction

to the robot (for example, forward, left

or right). The combination of shapes

dictates the robot’s journey.

Filippo Yacob, CEO of Solid Labs

commented that “Coding logic, like

language, can be much easier to pick

up when a person is young and the aim

of our playsets is to instil in children the

logic and discipline needed for coding

in a fun and entertaining manner.”

This year is the “Year of Code” in the

UK, a year when the government

wants to encourage teachers to learn

to code and to pass those skills onto

their students. The national curriculum

has changed to include coding logic

as a compulsory subject and some of

our most innovative entrepreneurs

are focusing their energies on teaching

coding skills to young people. As the

impact of technology on our lives

increases year on year, it is hard to

imagine that coding isn’t going to be a

vital skill for young people entering the

job market for the first time.

The final word on coding should

probably be left to an expert: “All of my

friends who have younger siblings who

are going to college or high school -

my number one piece of advice is:

You should learn how to program.”

Mark Zuckerberg

Introducing CubettoWe introduce to you “Cubetto” developed by Primo, a London-

based startup. Primo have created a physical programming interface

that teaches children programming logic while they control the

movements of an Arduino-powered robot (Cubetto).

All of Cubetto’s electronics are cleverly

concealed inside a wooden box. The

child snaps coloured pieces (instruction

blocks) into holes in the wooden box

(the physical programming interface)

which build up a set of instructions

which are executed by Cubetto when

the child pushes a big function button.

Despite its simple interface, Cubetto

introduces advanced concepts early

on. The function button is a small

feature, but one that creates the

opportunity for real complexity. “The

coolest thing we have seen a child

do is master the infinite loop on the

physical interface,” says co-founder,

Filippo Yacob.

primo.io

The real value in Primos’ creation

though is playing with Cubetto in the

real home environment. The child can

programme Cubetto to travel around

everyday household objects. Cubetto

has a smiley face which is a nice touch

and distinguishes him (or her?) from

other coding toys. “Giving Cubetto

a face is something we are proud of

because it gives him a personality,”

says Filippo. “Children like him and that

makes them want to help him find his

way home.”

TECH“You should learn how to program”

12 13

Since late 2013, three major

gaming powerhouses have

launched their 8th generation

games consoles generating

combined sales of over 20million

units worldwide. But despite

these huge initial figures, sales have

slumped as gamers ditch the trusted

homebound entertainment systems

in favour of mobile games on the go.

StartUp Roar explores these changing

trends in a world dominated by a back

flipping Italian plumber, alien-shooting

space fighters and sword wielding

elven folk.

It was the summer of 1983 that shook

households across Japan; home life

as people knew it would change

forever. No more aged board games

or rotting colouring books. Emerging

gaming giant, Nintendo, was about

to introduce a revolutionary piece of

technology that promised hours of

entertainment. Thus the Nintendo

Entertainment System – more

affectionately known

as the NES –

w a s

born! With its uber powerful 8-bit

processor, innovatively ergonomic

hand-held controller and the

introduction of an iconic and

charismatic Italian plumber, the NES

was destined for world domination.

Combined with widening television

availability, the NES took consumer-

product interaction to a new level.

A sense of control and ownership

was established as ‘players’ could

now manipulate the visual content

on screen and faced a sophisticated

computerised opposition. Teamed

with a damsel in distress storyline

and colourful magical creatures, the

NES’s titular game Super Mario Bros,

has sold 40 million units and is the

best-selling game of all time.

Nintendo had conceived the

“video gamer”.

Unsurprisingly, the technology

garnered worldwide attention; the

public wanted to own a console

and businesses wanted to make a

console. By the mid 1990’s, another

Japanese music/technology giant

Sony, released its first games console

with unprecedented success. The

technology had advanced considerably

in the last decade to include a fully

immersive 3D environment, which

established depth, perception and full

360 vantage points. Its gaming mascots

such as Lara Croft appealed to a wider,

more mature audience who could

relate to more naturalistic

‘human’ character

and thus

Gaming on the Go!

TECH

14 15

led

to a fierce

rivalry with Nintendo.

Fast-forward to the 6th generation of

consoles, Nintendo had launched the

Wii – a super interactive system that

used the player’s body to stimulate the

in-game features – Sony showcased

its most powerful system to date, the

Playstation 3, which boasted impressive

graphics and relative newcomer,

PC giant Microsoft, provided rival

technology with it’s XBOX360. The

XBOX360 had huge storage capacity

and processing powers for extended

gameplay. The console world had

reached dizzying new heights with

more and more gimmicks to ensure

customer loyalty.

However as the console industry grew,

so did other technological advances.

People demanded entertainment at

their fingertips as integrated use of

technology became commonplace in

the home, office and even in public

hangouts such as coffee shops and

transport. Lives were ever busier and

work demands harder and thus time to

spend collecting stars to save Princess

Peach took a firm back seat; and in

some horrifying cases, a demotion to

t h e

loft! People

wanted instant gratification. And it

had to be short, simple and sweet.

Cue the iPhone! Well more specifically

the creation of the ‘app’. In 2008

American technology giant Apple

launched its digital distribution centre

for mobile apps, aptly titled the

App Store. An app (or application

software) is a prepackaged piece of

entertainment readily downloadable

on mobile devices. They require no

mains power, no boot up time and

can be manipulated in the palm of

your hands. Games became simpler

and required just the right amount of

attention for the shattered commuter;

enough to be relatively alert but

not mind-blowingly complex for

6am. Huge scale platformers such as

Super Mario and Call of Duty proved

too time consuming and were thus

replaced with hopelessly addictive

puzzle games (Candy Crush, Quiztix)

to provide short releases from the

stresses of work life. And it was easy

to see why.

Quiztix engages users with a creative

and playful platform that boasts

clean graphics and rather humorous

caricatures. As the “contestant”, your

aim is to fill an auditorium of empty seats

with

g u e s t s ,

ranging from outlandish rock-

star avatars to decadent divas, by

answering questions from a chosen

trivia category. There are currently 4

categories available to download as

individual apps, all currently containing

around 500 questions under the titles

Videogames, World Football, Movies

and Pop Music. With questions hailing

from the tried and tested all the way

to present day affairs, the game is

pleasantly challenging yet decidedly fair.

And as apps can be remotely updated

directly from developers, these quiz

style games remain ever changing

and relevant.

So although home based console

games will forever be imprinted in our

hearts (especially those of the 80’s and

90’s), its time to accept mobile reality.

So savour the SNES and preserve the

Playstation for special evenings curled

up on the sofa, surrounded by snacks

immersing yourself in a land of fire-

breathing dragons and gun-wielding

monkeys. These golden oldies deserve

to be remembered. But for those living

in day-to-day working reality, grab that

phone and play those apps and taste

that little sample of freedom.

Quiztix is available to download now

on IOS and Android.

quiztix.co

Why did the government

introduce the SEIS?

The government’s intention was

to try and help small and early stage

businesses get access to investment in

the form of issuing shares. Historically,

companies of this size have struggled

to gain much investment other than

from friends and family or risky bank

loans, which often require personal

guarantees.

The UK government recognized the

importance of small and early stage

businesses to the economic recovery

post-recession and decided to

introduce SEIS to assist small businesses

with securing a much-needed injection

of capital.

In addition, the scheme was

introduced to promote new enter

prise and entrepreneurship.

What forms of tax relief are

available under the scheme?

Principally there are two types of

tax relief:

1. Income tax relief; and

2. Capital gains tax relief.

These tax reliefs allow an investor to

reduce the tax he pays. In the case

of income tax this can be substantial

with the potential for an investor to

reduce his income tax bill by 50% of

the amount he has invested in a startup

if certain conditions are met. On a sale

of the shares, the investor pays no

capital gains tax (assuming the

requirements of the scheme have

been met) on any gain.

Other tax reliefs include a capital gains

re-investment relief, which allows

investors to reinvest money from

the sale of certain assets into SEIS

qualifying shares.

What requirements do the

investors need to fulfil to qualify

for SEIS?

The investors must invest in ordinary

shares (those which do not have any

special benefits attached to them).

There is a requirement that the

investment must be for genuine

commercial reasons (i.e. with a view

to making a profit from an appreciation

in the value of the shares and/or

receiving a dividend) rather than to

avoid paying tax.

Another of

the requirements

is that the shares

are paid for before the

investor receives them. In

addition the investor must hold on to

the shares for a certain period of time,

and certain other requirements must

be fulfilled.

What is SEIS? LEGAL

The Seed Enterprise Investment Scheme (SEIS) is a tax relief scheme

for investors investing in startups. The scheme has been created to

encourage individuals to invest in early-stage businesses, which are

typically considered high risk.

16 17

One of the more interesting

requirements is that the investor

cannot be employed by the company

during a three-year investment period

(this is subject to a few exemptions).

What requirements must the

company fulfil?

There are a number of requirements

that the company must fulfil in order

to qualify under the scheme. Amongst

these is the requirement that all the

investment monies must be used to

progress a new trade. This new trade

must be the main purpose for which

the company was set up.

Another extremely important

requirement is that the trade the

company is carrying out must be less

than two years old at the date the

shares are issued to investors.

The company must also be a resident

in the UK and not listed (e.g. on a stock

exchange such as the LSE).

The company’s gross assets cannot

exceed £200,000, which means that

any company with substantial assets

(e.g. property) will not qualify for

the relief.

How does an investor claim

the relief?

There are three main stages to the

investor claiming the relief:

1. Advance assurance

2. Statement of Compliance

(SEIS1)

3. Claim forms for investors

(SEIS3)

1.Advance assurance

This is an optional stage and it involves

the company applying to HMRC

to obtain confirmation on whether

or not it qualifies under SEIS. This is

in the company’s interests, as it will

allow them to gain investment it might

not have otherwise received (the

motivation behind the scheme in the

first place).

If this process is undertaken and

confirmation that the company does

qualify is given by HMRC, then the

investors can relax knowing that as

long as they and the company continue

to abide by the requirements of the

scheme they will receive the tax relief.

2. Statement of Compliance

Once the shares have been distributed

to the investors and 70% of the

investment money has been spent or

the company has traded for a minimum

of 4 months, the company can apply

to HMRC for a compliance certificate.

Once this has been received, the

company can send out certificates to

the investors which allow them to

claim relief.

3. Claim forms for investors

Each investor can claim the SEIS

relief by completing a ‘Self

Assessment’ tax return

for the year when he

bought the shares.

Another advantage

to the scheme for

investors is that

the relief can

be claimed for

up to 5 years

after the year in

which the SEIS

investment was

made.

Conclusion

SEIS is driving the

investment market for startups

and is a must have for most early

stage businesses looking to raise

equity funding.

LEGAL

“The vast majority of early stage investment is effected using the SEIS and EIS schemes. SEIS in particular is so attractive to investors that it makes the investment decision much easier and much quicker”Michael Buckworth, Buckworth Solicitors

1918

London Calling

The UK has a rich and fruitful history of trade and commerce. The exploits of Drake and Raleigh in carving out new trading routes and markets for English goods evidenced an entrepreneurial spirit not just in these extraordinary men but also in the government of the time. The dramatic

manufacturing developments of the Industrial Revolution (where England lead the world in developing and implementing new technologies) relied on the social and economic stability in England at a time when other countries were destabilised by wars.

Michael Buckworth, Senior Partner of Buckworth Solicitors discusses the enduring success of the UK and London as a startup hub.

FEATURE

2120

It is also estimated that 55,000 social enterprises are located in London, accounting for 1/5th of the total number in the UK. These two figures alone reportedly account for roughly £8billion of turnover for the UK economy.

Aside from the tax reliefs, what is it about London that attracts such huge startup interest? One explanation is the number of entrepreneurial schemes supplied by local universities. For instance London South Bank University (LSBU) provide a graduate entrepreneur scheme through which they sponsor some of their students to set up and run a new business.

Coupled with funding, LSBU provides advice and guidance from industry experts in a structured format resulting in the entrepreneur not just having a business but also an additional qualification at the end of the course. It’s these types of supportive schemes combined with nationwide investor tax-relief programs that is creating such interest in London-based startups.

All of this success relies on continued government support and innovation. The next government, whatever its political persuasion, must retain the tax incentives available to entrepreneurs and investors, particularly the SEIS and EIS schemes. It must maintain the current level of grant funding available to startups. It must continue to de-regulate where possible. But more than this, government needs to intervene to correct deficiencies.

Whilst incorporating a company in the UK is quicker and simpler than almost anywhere else in the world, opening a business bank account for a UK company (particularly if you are not resident in the UK) is virtually impossible. The government talks about encouraging foreign business to re-domicile to the UK. Yet the high street banks refuse to bank for them. These inconsistencies harm the UK and stifle the very innovation government has strived so hard to encourage.

The next election will decide the future of startups in the UK. We ignore the business policies of the main political parties at our peril.

Throughout British history, successive monarchs and governments have sponsored innovation and supported the growth of industry and commerce. Today, the UK boasts a business economy worth over $2.9 trillion. British business includes super-fashion brands such as Alexander McQueen and Vivienne Westwood, gas giants such as British Petroleum, retail businesses such as TopMan and Next and the modern tech entrepreneurs and investors who now work at the cutting edge of British business. However, maintaining its place as the 6th largest national economy in the world requires continued innovation. Innovation in turn requires economic stability, political support and the availability of the right skills in the workforce.

As we move on from the trauma of the Scottish referendum and the political posturing around the West Lothian Question begins to dissipate, next year’s general election becomes closer and closer. Notwithstanding a general malaise with politics and, setting aside (to some extent) the differences between the main political parties when it comes to taxation and business policy, the next election represents a potential watershed in the continued growth of the British startup economy.

New emerging businesses, (known colloquially as ‘startups’) are largely considered the driving force behind Britain’s growing economy. Following the ‘deep’ recession between 2007-2009, new government initiatives were put in place to help reduce the GDP deficit and encourage investment in young entrepreneurs and businesses. The Office for National Statistics recently reported a 0.9% expansion in the economy between April-June 2014 with over 440,000 new startups incorporated since January of this year.

But this innovation does not happen in a vacuum. The last two governments have put in place a relatively coherent compliance and fiscal framework which has incentivised entrepreneurs to innovate and investors to fund.

Today, the UK has one of the most generous investor-incentives in the world. The Seed Enterprise Investment Scheme (SEIS) offers investors in high risk startup ventures up to 50% of the amount of their investment back as a deduction from their income tax bills and allows them to sell shares purchased under the scheme completely free of capital gains tax. Unsurprisingly, early stage startups now find it relatively easy to raise investment with the result that startups are in the main well funded.

London is widely considered the startup capital of not only the UK, but the world. According to a survey conducted by Startup Bootcamp, the big smoke beat stiff competition from the likes of San Francisco and New York to earn the coveted title earlier this year. In East London – largely known for its tech startup community – 50,000 new tech-centric jobs were reported in late 2012.

Buckworth Solicitors is the only law firm in London focusing solely on startups. Founded in 2011, the firm has acted for over 500 startup clients. The Senior Partner, Michael Buckworth is one of the leading advisors for startups in the UK and won Corporate Lawyer of the year in 2014 from Lawyer Monthly.

buckworthsolicitors.co.uk

FEATURE

2322

Raishma is one of the UK’s fastest

growing fashion labels.

Taking inspiration from cultures across

the globe, Raishma’s ethnic-fusion

designs are full of vitality, bold colours,

patterns and glamour which have

earned them a loyal clientele including

Royalty, A-List celebrities and even

members of Parliament.

However, this shouldn’t be a shock…

As the brainchild of esteemed designer

Raishma Islam (who trained under

Elizabeth Emmanuel), Raishma’s

unique designs, strong tailoring and

attention to detail has created a range

that is not only stylish but, importantly,

is flattering too!

This is a very exciting time for

Raishma who have lots of exciting

projects coming up.

For more information about

Raishma’s designs, or to request

an interview with Raishma Islam,

contact us on info@raishma.co.uk

A classic shift dress in ivory organza with thread embroidery

all over. Contrasting lining in a pretty taupe shade, and dainty

frill cap sleeves finishes off the look. This dress adds a modern

twist to a classic work dress or cocktail dress look! £115

A pretty gold organza dress with red thread work embroidery on hem and bodice

section. For a daytime look wear it with flats and a shrug or with heels and a

leather clutch hand bag as an evening dress. £115

Slate grey colour net one shoulder evening dress

with beading stemming all over. This cocktail

dress is red Oscar carpet glamour and is a

timeless classic piece to add to your wardrobe.

This dress is perfect as a bridesmaid dress or as a

long evening dress. £149

raishma.co.uk

‘Fashion is so important in shaping not only the way that others perceive us, but also the way we feel about ourselves. So often, women have to compromise, either opting for a great fit or a stylish design. All women deserve to feel confident, glamorous and gorgeous in their outfits so, when designing Raishma, we took special care to ensure that our designs catered for both. We’re very proud of what we’ve achieved.’ Raishma Islan, Founder

FASHION

2524

From an initial brand base of 12,

True Gent now showcases products

from over 30 brands and growing.

Trend advice and blogs compliment

the wide range of products and its

fan base is growing too! True Gent’s

social media profi le is impressive with

coverage across all major channels,

and national campaigns to continually

build brand awareness.

Managing Director, David Archer,

decided to take the plunge but it took

three years for the big idea to come

to fruition.

“I’ve always been very style conscious

and it was while studying in marketing

that I saw a gap in the market for

a ‘one-stop’ website aimed at

professional men between 20-45

who like looking good but are too

busy to trawl lots of different websites

for all their style needs,” he said.

After putting the concept to paper, the

True Gent business took shape and

the business was eventually launched

in October 2013. true-gent.com

Launched in October 2013, True Gent has fast become a growing

brand, building its product base to over 1200 items across men’s

fashion and lifestyle brands.

The best selling shoes on

True Gent, the Goodwin

Smith Brogues are a staple

for every man. Whether

it’s a special occasion or

another day in the offi ce,

you are certainly putting

your best foot forward in

these beauties.

£95.00

Come rain or shine, these suede and

leather boat shoes look the business.

From royal blues to deep reds,

these classic nautical numbers add

a dash of sophistication to any outfi t.

£55.00

Accessories make-eth the man and

this is certainly the case with the

Fendon watch. With its genuine

leather strap, this timepiece is the

pivotal of Italian craftsmanship.

£342.00

This fi nest cotton twill navy trench

coat is ideal for the summer-autumn

transition. With brown suede details and

an adjustable waist belt, you can dress

up for work or dress down for drinks!

£328.00

FASHION

2726

‘7’ CUSHION Limited edition for STANDSEVEN

Handcrafted in UK By Fine Cell Work

STANDSEVEN is proud to work with Fine Cell Work, a social enterprise that trains

prisoners in paid, skilled and creative needlework, undertaken in the long hours

spent in their cells, to foster hope, discipline and self-esteem. STANDSEVEN has

designed this limited edition 7 cushion, with intricate hand stitch work by Fine

Cell Work.

£190.00 (inc. VAT)

50 × 50cm

Hand embroidered golden thread on

dusty blue Osborne & Little linen; this

limited edition STANDSEVEN cushion

is made from feather-and-down,

delicately soft and long lasting

At STANDSEVEN we join the dots.

We are curators and creators of objects. Looking for a path less trodden, a new way of going. Searching

out and creating pieces that have their own story to tell. Our products are our poetry. Designed to last

and not to be replaced.

We work with artists, designers, architects to produce storied wares for a lifestyle we live. Seeking

ethical ways of working without exception. Searching out and creating pieces that have their own

story to tell. Supporting people in their making. Selling them on our destination standseven.com.

All our products have a social impact, creating education or employment opportunities in off the

grid communities with minimal opportunities. We work with 3 charities who make a measurable

impact and who inspire us every day. Design and human dignity, without exception. We believe

design can change the world. Join us.

Ikena Carriera & Tamaryn White

STANDSEVEN Managing Partners & Founders

LIFESTYLE

2928

STOOL 7 Limited edition for STANDSEVEN

Design by David Adjaye OBE

Working corroboratively with architect, designer and OBE, David Adjaye,

STANDSEVEN’s Stool 7 welds sustainable, recycled metals and ethical intentions

into angular, sculptural lines. One of the leading architects of his generation, David

Adjaye is known for his pioneering approach and innovative projects. A piece of

in-house functional art, this stool is no different, architectural in its making and

ethical in its creation. Each stool pays for one year’s school fees for one child in

Shine on Sierra Leone, ranked the third best school in Kono district.

GOSPEL HOUSE TOYS

Wooden toys, handmade in Sri Lanka

Thoughtfully crafted and brightly painted, Gospel House Toys are handmade in Sri

Lanka from sustainably sourced wood and non-toxic paint. Perfect play things for

children, paired with the integrity and craft of grown-up artisan products. Founded

in Sri Lanka in the seventies, Gospel House Handicrafts was set up to provide

employment for young people without opportunities and often with disabilities

preventing them from getting work elsewhere, training them how to make

wooden toys, utility items and ornamental handicrafts. Translated from Singhala,

‘Gospel House’ means ‘good news.’ STANDSEVEN has collaborated with them

to make an exclusive range of childrens toys.

THE GWEN JUMBO JET

£25.00 (inc. VAT)

30 × 29 × 18 cm

Decorated with non-toxic paint

Sustainably sourced wood

Handmade in Sri Lanka

THE JIMI HORSE

£19.00 (inc. VAT)

18 x 17 x 8 cm

Decorated with non-toxic paint

Sustainably sourced wood

Handmade in Sri Lanka

CABLE KNIT THROW

£240.00 (inc. VAT)

150 × 115 cm

100% WoolGrey

An understated cable-knit blanket to

curl up under or throw across your

bed, an everyday indulgence.

100% dapple grey wool

WOMEN FOR WOMEN

Limited edition for STANDSEVEN.

Handcrafted in Bosnia STANDSEVEN brings a collection of hand-woven home

wares to your table. STANDSEVEN is collaborating with Women for Women

International on geometric patterned thick cotton weaves and knits inspired by the

rich heritage of the Ottoman Empire and crafted by graduates of the organisation’s

program in Bosnia. These women are local artisans who work with the traditional

craft and embroidery techniques of generations before. Women for Women

International works in The Balkans employing women who have suffered through

the Bosnian Croatian conflict.

standseven.com

STOOL 7

£920.00 (inc. VAT)

Wholesale prices upon request

400 w × 270 d × 730 h mm

Zinc plated recyclable steel

Semi-matt gloss finish in RAL

colour 7024

Other colours available upon request

LIFESTYLE

3130

StartUp Roar reviews

WatchFit, one of the latest

and most popular fi tness apps

currently on the digital market:

It is the end of September, Winter

is around the corner and Christmas

is creeping up on us. And if you,

like us here at Startup Roar, have

literally ‘thrown in the towel’ since

promising yourself a “new year,

new you” gym routine in January,

there may just be one thing that

forces you back onto that treadmill.

Besides, we could ALL do with some

damage control over the holidays!

In 2014 it’s safe to say that the way

we exercise and engage in fi tness,

is somewhat different to that of

the previous century. Now with

smartphones and tablets, everyone is

able to have a ‘digital’ personal trainer

accompanying them at all times; to enlist

motivation, drown you with guilt (put

that cake down!) but most importantly

provide you with knowledge.

WatchFit is essentially a fi tness

bible – a huge resource and bank of

exclusively provided health and fi tness

related material which grows by the

day. But WatchFit is going beyond

the standard app by challenging the

root cause

of peoples fi tness woes; the

notion that it is laborious and dull.

The app encourages competition. It

turns your fi tness progress into a game.

Once logged in, you can invite friends

into the mix – and yes, you guessed

it – you can stalk their progress too!

Because although we may not be a

nation known for healthy eating, we

certainly are nosey parkers. And if Julie

from the offi ce documents her “only

700 calories today” accompanied by

“great hour sesh at the gym”, you’ve

just simply got to outdo her… right!?

This is the perfect way to go about

fi tness. It instils motivation, encourages

healthy competition and genuinely

makes you feel like you are not going

through it alone. As, despite what

some fi tness extremists may profess,

exercise isn’t easy for the majority.

You can

rest assured that all information

in the WatchFit database is up-to-date,

relevant and only delivered by seasoned

health and fi tness professionals.

In addition, WatchFit has a number

of high profi le sports personalities as

users and supporters. So you can train

with the best of them and imagine

yourself cycling, rowing or running

to victory at the next Olympics.

So it’s time to get back on that bike, put

down that “one more cookie” and log

into the bright interface of WatchFit.

Truly challenge your post Summer

health kick and make fi tness fun!

WatchFit is available for

free on the Apple App store!

WatchFitIs fi tness the new tech boom sector?

LIFESTYLE

USA & Australian TV Celebrity Chef Pete Evans, one of many high profi le experts found at WatchFit.

WatchFit Founder and CEO Parisa LouiePicture: Andy Lesauvage. lesauvage.tv.

watchfi t.com

3332

CheekyByNature is the product of

Clay Niccum, a graduate of London

South Bank University’s National

Bakery School. CheekyByNature aims

to challenge people’s attitudes to eating

wheat and dairy-free baked treats.

In 2007, after his mother developed

diabetes, Clay became tired of the

lack of tasty yet nutritionally balanced

products available for consumers with

wheat, dairy and gluten intolerances.

“CheekyByNature comes from a place

of complete honesty”, Niccum said, “It

came from a genuine place of wanting

to help people. When my mother was

diagnosed as diabetic, it was frustrating

to see the lack of options available to

her. And the small amount of goods

that were available were all incredibly

dry and bland. I just wanted to give

people a reason to smile”.

Since its launch in 2007,

CheekyByNature has gone on to

produce two signature lines of baked

goods including cookies, brownies and

cupcakes. The original range refl ects

the origins of the company: delicious

wheat free treats that are nutritionally

balanced without compromising on

taste. The second (considered the

premium line) offers customisable

cakes suitable for any occasion.

However, it is not just the quality of

the products themselves that make

CheekyByNature unique.

The branding makes snacking a guilt

free, enjoyable experience. This is

exemplifi ed by the incredibly

fun and creative names

of the products.

For example, you

can order a “3-

way (a triple

c h o c o l a t e

cookie) or

munch on

a “Peanut

Butta Luva”

if you prefer

something a

bit more fl uffy

and moist.

“People are often made to feel guilty

about ordering a treat” explains

Niccum. “I want to inject that fun back

into snacking and create an emotional

experience when my customers buy

the products. I mean, going up to the

counter and saying ‘I’d like the 3-way

please’ just creates a sense of fun and

novelty that I feel has been stripped

out of snacking in recent times”.

Clay, very kindly, supplied the team

here at StartUp Roar with two

samples from his baking collection.

One, an original recipe, that has

been around since the company was

founded. And two, a more recent

creation that is likely to go into

production following an

exciting new joint

venture (more

news soon!).

Here are our

reviews of the

two devilishly

good treats!

T h e

3 - w a y

Cookie:

As the saying goes,

‘everything comes in threes’

and this couldn’t be more apt for this

cheeky number. With dark and white

chocolate chips and dark cocoa, these

cookies are every chocolate lover’s

dream. The exterior is lightly crisped,

leading up to a dreamily moist centre

that melts deliciously on the tongue.

The chocolate taste is dominant yet

not too overbearing or rich, allowing

for a satisfying indulgence without the

post-consumption heaviness. And

with higher protein content and fewer

refi ned sugars than most comparable

high-street delicacies, a lunchtime

ménage-a-trois seems surprisingly

guilt free.

W h e a t

Free Brownie:

Eating healthily is all the rage at the

moment with many a hardworking

businessman and woman opting

for alternative “snacks” in a bid to

stay fi t! However this is often at the

compromise of taste because, lets face

it, there is little fun in munching on

carrot batons and celery sticks.

This brownie is moist, gooey and all

things good. Although wheat and

gluten free they are succulent enough

to leave you beyond satisfi ed whilst

also boasting health benefi ts such as

being easily digestible and helping

stabilise blood sugar levels.

Everyday we consume it. We often

take it for granted and, at times, it

gives us a great sense of pleasure. I am

of course talking about food. And for

those of you who, like me, can’t resist

a smooth operator with a rugged and

crunchy exterior, you will be delighted to

know that there is a new player in town ready

to shake things up. Join me to end our long-lasting

love affair with the food we know, and spark up a new

relationship that is CheekyByNature.

“People are often made to feel guilty about ordering a treat”

So if you’re tired of fl ouncy named foods

but still want to be mindful of your

daily diet, ditch the duds and embrace

these little packets of heaven!

studmuffi nz.com

LIFESTYLE

3534

Launched in August 2012,

Sumak Sustainable Travel is

a responsible tour operator

and social enterprise offering

inspirational, community-based

travel tours and adventures

across South America and Costa

Rica. The London-based company

specialises in tailor-made private

tours and works directly with local,

community-based tour operators in

Latin America. It is operated as a social

enterprise, putting local communities

and the environment at the centre of

its model. Profi ts are reinvested into

the business and into community-led,

productive projects in Latin America.

Sumak’s mission is to contribute to the

empowerment of local communities

in Latin America by running an ethical

business that provides rewarding and

authentic experiences for discerning

travellers. Sumak Kawsay means

‘good living’ in Quechua; and for the

organisation founders, it embodies the

idea of caring for people, cultures and

nature – principles that are all key to

true, sustainable development. Sumak

strives to exemplify ‘good sustainable

travel’ in everything that they do.

The private 16-day tour includes

accommodation, internal fl ights

and transfers, guided activities and

excursions and most meals. Prices

start from £2,235 per person (based

on two sharing). Return fl ights to

Buenos Aires start form £650pp.

More details about the tour: http://

www.sumak-travel.org/product/

buenos-aires-iguazu-falls-and-rural-

argentina-tour/

This unforgettable Argentina tour takes you on a journey through

the northern regions around Salta, where you’ll discover some of

the world’s most breathtaking landscapes and immerse yourself

fully in its fascinating local culture and nature. You’ll also get to

know Buenos Aires, take a day trip to Uruguay and experience

the superlative Iguazu Falls, crashing through the jungle on the

border with Brazil.sumak-travel.org

Buenos Aires, The Iguazu Falls and Rural Argentina Experience with Sumak Travel.

Sumak Travel LIFESTYLE

36

200 Aldersgate | London EC1A 4HD

EIS and Follow-on-Rounds19th November 2014,

6:30pm

Club Workspace Clerkenwell,

London EC1R 0AT

Christmas Drinks and End of Year Summary

18th December 2014, 6:30pm

Club Workspace Chancery Lane,

London WC2A 1HR

Introduction to Startup Law

15th January 2015, 6:30pm

Club Workspace London Bridge,

London SE1 3ER

You are invited to attend one of our

free legal seminarson Startup Law:

Sign up at www.buckworthsolicitors.co.uk