A Poem About Responsibility by Charles Osgood

There was a most important job that needed to be done,
And no reason not to do it, there was absolutely none.
But in vital matters such as this, the thing you have to ask
Is who exactly will it be who'll carry out the task?

Anybody could have told you that everybody knew
That this was something somebody would surely have to do.
Nobody was unwilling; anybody had the ability.
But nobody believed that it was their responsibility.

It seemed to be a job that anybody could have done,
If anybody thought he was supposed to be the one.
But since everybody recognised that anybody could,
Everybody took for granted that somebody would.

But nobody told anybody that we are aware of,
That he would be in charge of seeing it was taken care of.
And nobody took it on himself to follow through,
And do what everybody thought that somebody would do.

When what everybody needed so did not get done at all,
Everybody was complaining that somebody dropped the ball.
Anybody then could see it was an awful crying shame,
And everybody looked around for somebody to blame.

Somebody should have done the job
And Everybody should have,
But in the end Nobody did
What Anybody could have.

Budget 2011 Review

Although perhaps not quite the “Budget for Growth” that it had been billed as (which was not unexpected due to the current focus on deficit reduction), George Osborne’s budget did manage to be broadly beneficial to industry – with the distinct exception of banks and oil companies. He taxed the North Sea oil revenues for some £2bn as well as ensuring the banks continued to pay their levy (whilst not benefitting from the Corporation Tax changes for large businesses). The big news for most businesses was that the headline rate of large company Corporation Tax is to be reduced by 2% from April rather than the initially announced 1%, therefore taking CT down to 23% by the end of the current Parliament. This would give Britain the lowest rates in the G7 – by 2014-15, the UK’s tax rate would be 16% lower than America, 11% less than France and 7% lower than Germany, assuming other countries do not cut their rates. For smaller businesses, the benefits included the plan for 21 enterprise zones, a 1 year extension of business rate relief for small property holders and 1p per litre reduction in the fuel duty. Although many post budget “vox pop” comments from the pumps on the news programmes showed disappointed drivers saying that the Chancellor could have done more (although I’m not quite sure how they expected him to pay for a greater reduction), they seem to be forgetting that he has also got rid of the 5p per litre increase that the previous government were due to implement in April 2011. So although fuel prices are uncomfortably high, it could have been a lot worse for drivers come April – so I suspect a number of hauliers and distribution companies will be pleased to have some of the pain removed, at least in the short term. Manufacturers received good news on new investment including a change in the capital allowances regime allowing them to write down the cost of expensive machines over eight years (from the current four years). And entrepreneurs were pleased to see that Enterprise Investment Scheme income tax relief was increased from 20% to 30% and that the scheme was widened to encourage Business Angel investors, along with an enhanced research and development tax credit for small companies. Furthermore, entrepreneurs’ capital gains tax relief was doubled to £10m. There were cuts in red tape amounting to £350m and a 3-year moratorium exempting businesses with less than 10 staff from new domestic regulation. There was also confirmation that the 50p top rate of tax introduced by the previous administration would be temporary. As Miles Templeman, Director-General of the Institute of Directors, commented, “The Chancellor didn’t have much money to play with but he played his hand well.” Further, David Frost, Director-General of the British Chamber of Commerce, said, “Despite tight fiscal conditions, we are encouraged the Chancellor has prioritised business growth and private sector expansion alongside deficit reduction.” Overall then, a good budget for business and for getting companies on the road back to growth. As George Osborne said in his budget speech, “Let it be heard clearly around the world – from Shanghai to Seattle, and from Stuttgart to Sao Paulo: Britain is open for business.”

IoD West Midlands Director of the Year Nomination

I was delighted and privileged to recently receive a call from the Institute of Directors telling me that I had been nominated in their "West Midlands Director of the Year" Awards 2011 SME category.

Subsequently, I have attended a panel interview at the IoD hub and have been invited to attend the awards dinner at the Botanical Gardens, Birmingham, on Thursday 31st March.

Of course, the competition will be stiff and I'm sure there are many deserving and impressive nominees in the SME category - I am just extremely pleased and proud to have had my work recognised in this way and to have been nominated by the IoD.

Aston University Guest Lecture by PHK

I was delighted to recently take up an invitation to present a guest lecture to the MSc/MBA students at Aston University in Birmingham entitled, "Management Accounting at the Sharp End".

The 45 minute lecture, followed by a 15 minute Q&A session, allowed the students to get a first hand account of the attributes needed, along with the main duties performed, by the Chartered Management Accountant within industry and commerce.

My thanks go to Aston University for their kind invitation to lecture and to the Chartered Institute of Management Accountants (CIMA) for facilitating this opportunity.

CV Writing Services Now Available

Intervallum Limited are now able to offer Executive CV Writing and Consultancy Services, providing professionally designed resumes to give you maximum impact in the job market and help you to secure that all important next role on your career ladder.

This service is being headed up by Karen Hooper-Keeley who can be contacted at info@intervallum.co.uk for more details and rates.

PHK Elected to Vice President of CIMA NW Midlands

Intervallum's Managing Director, Paul Hooper-Keeley, has been elected to the position of Vice President of CIMA NW Midlands and will take up the Presidency in December 2011 for a two year term.

Paul was previously President of the Chartered Institute of Management Accountants in the North West Midlands from 2003 to 2005. He also currently sits on the CIMA West Midlands Regional Board.

A Poem on Self-belief taken from Napoleon Hill’s “Think & Grow Rich”

If you think you are beaten, you are,
If you think you dare not, you don’t,
If you like to win, but think you can’t,
It is almost certain you won’t.

If you think you’ll lose, you’re lost
For out of the world we find,
Success begins with a fellow’s will –
It’s all in the state of mind.

If you think you are outclassed, you are,
You’ve got to think high to rise,
You’ve got to be sure of yourself before
You can ever win a prize.

Life’s battles don’t always go
To the stronger or faster man,
But soon or late the man who wins
Is the man who thinks he can!