Surrey Translation Bureau wins another award!

Surrey Translation Bureau (STB) has once again received the prestigious Corporate Member Award from the Institute of Translation and Interpreting (ITI).

The company was named joint winner, alongside Anja Jones Translations, at the Institute’s international conference and gala dinner in Sheffield on 10 May.

The Institute of Translation and Interpreting is an independent professional membership association for practising translators, interpreters and language services businesses.

STB was recognised for introducing a key account strategy (followed by an increase in repeat business and the growth of a number of accounts), and also improving post-editing of machine translation, subtitling and DTP services in 2018. They also implemented a number of training initiatives, including the launch of a free webinar programme for freelancers, and expanded outreach events for schools and colleges.

Surrey Translation Bureau was also the first winner of this award since the introduction of the Institute’s new, expanded awards programme, which was launched to recognise the best in translation and interpreting and to set a benchmark for what quality and professionalism should look like in the sector.

Allison Spangler, Resource Manager at STB, said: “We are thrilled to be acknowledged by the ITI for the second time in the ‘Best Corporate Member’ category because it demonstrates that we are continuously improving the service we offer to clients and freelancers, and keeping up with industry developments. We are truly thankful to our in-house staff, as well as our freelancers, for their hard work and dedication. We couldn’t have accomplished this without all of you!”

Surrey Translation Bureau was established in 1984 and remains an independent, family-owned business. Its in-house team includes 16 experienced language professionals.

If you would like to benefit from the services of an award-winning company, please get in touch at hello@surreytranslation.co.uk or call 01252730014.

Useful Brexit information for businesses

The Embassy of Finland together with Business Finland and the FBCC organised a Brexit prospects and preparedness talk on the 15th of May. Kristiina Kauppinen, Market Access Unit, Department for External Economic Relations, Ministry of Foreign Affairs, provided useful links for businesses preparing for Brexit. We have listed them below. Please do not hesitate to contact us directly with any unanswered questions at info@fbcc.co.uk.

Brexit information

More useful links about general information and organisations here.

Halfway Greetings from FBCC Trainee Heli

I am Heli Haapanen and I have been working with the Finnish-British Chamber of Commerce for three months now and I will be here until end of June. I can’t believe how quickly time has passed. It’s been a busy spring in a very positive way.

On a day-to-day basis, my role as Marketing and Events Coordinator includes different activities in a dynamic environment in vibrant, lovely London. We have held many events on different topics, like the Digital Marketing workshop, the Investing & Fintech event last week and the monthly Nordic Drinks. Organising and participating in FBCC events has been full of creativity, socialising, multi-tasking and a fantastic opportunity to gain experience and improve transferable skills. What a great experience it has been so far to meet different people from various sectors around the world!

At the beginning of my traineeship, I wanted to develop my business skills, enhance my knowledge of international business and Finnish companies in Britain. One of my key objectives was and still is to learn more about marketing so I can apply my knowledge in the final year of my master’s degree in European and Nordic studies and future career.

It’s been so great to be part of the Chamber and to learn more about the business culture in the UK and the Finnish companies here. Finland has a positive image in the UK and Finnish companies have been successful here, which has been nice to observe.

The Traineeship has been an amazing opportunity to do so many things in a cosmopolitan city like London. I am grateful to work with a successful team and enthusiastic manager Emma.

I still have a few months left, so I am looking forward to learning more, enjoying the challenges as well as meeting new people and seeing FBCC friends again at our upcoming events!

Change brings opportunities for start-ups and investors alike

Insights from the Investing & Fintech panel discussion

Last Thursday, 2nd May, we hosted an Investing & Fintech event in cooperation with Danske Bank International and Womble Bond Dickinson. The event concentrated on an expert panel discussion moderated by Womble Bond Dickinson’s UK Head of Financial Services, Jonny Williams. Our panellists were Aapo Bovellan (Founding Partner at Proxy VC), Florin Grosu (Co-founder of Traderion and President of the Young Leaders Club), Gareth Grenner (Managing Director, Identity and Financial Inclusion at Emergent Technology) and Theo O’Donnell (Head of UK & Ireland at Enfuce Financial Services).

Pictured from the left: Jonny Williams, Aapo Bovellan, Florin Grosu, Gareth Grenner and Theo O’Donnell.

Artificial Intelligence and the next big thing

The panel discussion provided many insights to into the world of investing and fintech, both current landscape and future views. Artificial Intelligence (AI) is a key point in bringing about a major shift in the industry. In addition to the technology behind AI it is also important to focus on the products and services AI will enable – people do not necessarily care about how technology works but what it makes possible. Some companies even take the mention of AI away from consumer marketing because it is such a difficult concept to define. What used to be seen as AI can now fall more into the machine learning sector. The difficulty of defining AI has caused confusion and has led to many self-defined AI companies actually doing something that is outside of the AI definition. According to Silicon Valley estimates, 40% of AI companies might have nothing to do with AI. However, the consensus of the panel seemed to be that the full potential of AI is still very much not realised. AI will bring changes to the market and is definitely one to watch.

Is traditional banking heading the way of Blockbuster?

In addition to the changes already brought or about to happen because of Artificial Intelligence, open banking will also be a part of the change the industry is going to face. Traditional banking could soon face it’s Blockbuster – Netflix moment. Payment mediums are going through change, but the question is how fast is this change going to happen? The speed of change certainly managed to surprise Blockbuster. Still, the panel agreed that a major speed bump will be regulations. Many niches have room for innovation but barriers of entry, like banking regulations, make them expensive for start-ups. And from an investor point of view, funding regulations is costly. However, regulators seem to be very proactive with Fintech companies. It can be speculated that with Brexit, the government knows it needs to be in the front of open banking and fintech. The real challenge for start-ups is finding the time to navigate regulations. This is something that AI has the potential to help with as it can be used to report to regulators and that way reduce hours and possible fines. Technology would then save time and money. There is an opportunity to create a solution for big companies to use data. However, it will remain to be seen how the emergence of 5G will affect solutions, mobile fintech and the innovation rate.

An investor or a loan? That is the question.

From AI, open banking and regulations, the conversation moved on to funding possibilities. On questioning whether to take a loan or find an investor, it is important to think of what the right fit for the company at that point is. The predictability of the revenue model and margin structure affect the decision too. Loan financing is a good option if you have predictability, otherwise a VC might be the wiser choice. One advice was that the best thing is to become a CFO quickly. Understand your own cash flow and the accuracy of your predictions. However, it must be remembered that investors offer much more than just money; they offer strategic advice and network assets. But with Fintech and AI the possibilities don’t end there. The right partner and investor can also offer you access to data which is crucial in the “training” of an AI and turning it into a functioning product. It is important to remember that financing is a strategic decision like any other part of business.

Are you and your investor a match?

So, if you decide to get funding from an investor, what needs to be considered? It is important to find funding from experienced investors. The relationship between an investor and a Fintech company is a two-way street. It must not have conflicts and it is important to find the right fit. Due diligence and a common vision are important to establish, and this takes time.  In the worst case, the investor relationship can even cause the start-up damage. It is important to make sure who the investor is and how they will behave on the board. A common phrase heard in investing is “49% is less than half and less than half is nothing” and it is crucial who the 51% is going to be. You should check who the investor is currently working with and ask for referrals on their behaviour. It is important also for the investors to check with their start-ups on how they see them behaving as an investor. The image the start-up has of the investor can be very different to what the investor imagines it is doing. You can think you are acting helpfully but can actually be doing harm. It is very important to keep all investors informed to get funding on the second round. Upkeeping the relationships with your investors in paramount.

Trending in Investing & Fintech

Lastly, the discussion moved to what the panellists find exciting about the Investing and Fintech field at the moment. Some exciting trends are for example robot process automation, B2B companies beginning to act like B2C, identity and blockchain, and financial inclusivity. There are so many opportunities in this space that it will be exciting to see what happens next.

There are many things to consider when either starting up a Fintech company or investing in one. The discussion answered but also raised many questions. The future of the industry is hard to predict, but one thing we know for certain is that changes are on their way. We hope that everyone who attended the panel now has a clearer view of the field and the tools to make better decisions.

We would like to thank our guests for active contribution to the discussion and asking interesting questions. Also, a thank you to our panellists who brought us their insights and expertise on Investing & Fintech. Our gratitude extends to our cooperating partners Danske Bank International and Womble Bond Dickinson.

We proudly welcome our new Patron Member Cool N Talk

Cool N Talk United Kingdom is a modern online platform for keynote speakers, hosts, facilitators and training. The speaker agency company is owned by speakers and famous serial entrepreneurs.

Companies can easily find the best suitable speaker for their events with competitive prices. The management have done over 3000 engagements since 2006. Cool N Talk’s experienced consultants will serve you from need to final applause. In 2019 they will deliver more than 600 speaking engagements globally.

They have a global network for speakers, but majority comes from Scandinavia. Booking keynote speakers is more transparent than ever before. Welcome to Cool N Talk’s shop for their international speakers and hosts. To find out more about Cool N Talk, visit: https://coolntalk.co.uk

Halfway greetings from FBCC Spring 2019 Trainee Erika

I am Erika Sipilä, one of the Marketing and Events Coordinator Trainees for Spring 2019 at the Finnish-British Chamber of Commerce and this is my halfway greetings blog post to FBCC Members and friends. You can read my introduction post here. 

I have now officially graduated as a Bachelor of Science in Economics and Business Administration majoring in International Business. At university I learned a great deal about the theory of international trade but interning at the Finnish-British Chamber of Commerce has taught me more about the practical side of International Business. The Chamber provides a unique view point into business between Finland and the UK. You get to see small Finnish start-ups entering the UK market, big established corporations who have been in the UK for decades as well as UK businesses interested in Finland or cooperation with Finnish companies.

I count this Traineeship as an invaluable addition to my International Business knowledge and skillset. Having the opportunity to work closely with an organisation that facilitates the operative functions of internationalisation has helped me apply the theoretical knowledge I gained from university into practice.

Interning at the FBCC is a good opportunity to challenge yourself. You get lots of responsibility and freedom to be creative but still have the support of our General Manager, Emma. This Traineeship has already helped me grow as a professional and provided me with tangible skills for the future. Now my Traineeship is at its middle point and if I have learned this much halfway through, I cannot wait for what’s to come.

I look forward to catching up with members and friends of the FBCC and meeting new faces at our upcoming events!

We warmly welcome our new Corporate Member Joisto

We are happy to present the newest Corporate Member of the FBCC, Joisto!

Digital Content Delivery, Reimagined.

Optimise your business and streamline processes with digitally stored and managed documents that can be accessed instantaneously, from anywhere.

 

 

JOISTO AT A GLANCE

Dynamic. Flexible. Robust

IMPROVE PROCESSES: Remove lengthy, manual and costly document storage and management processes

CONTENT MANAGEMENT: Joisto supports all business communications, printed documents, emails, office documents, images, video and voice recordings, which can all be indexed and searched within the platform

SECURE & COMPLIANT: User tracking, versioning management, document management life cycle, automated processes and timestamp functions

We warmly welcome our new Corporate Member KPA Unicon

KPA Unicon has been tackling the world’s toughest energy problems for nearly three decades. From renewable, clean-energy solutions like our biomass, industrial waste and waste gas boiler plants to operational modifications that increase the efficiency of existing energy plants, KPA Unicon is inspiring and facilitating the world’s transition to clean energy.

They provide heat and steam production capacity as a service, which enables you to invest your capital on other business areas instead of energy production facilities. KPA Unicon will be responsible of the design, construction and operation and maintenance of the plant and guarantee the heating capacity you need to be available, while you can concentrate on your core business.

FBCC General Manager Emma met the first female President of Finland Tarja Halonen

On Friday 8th March, to mark International Women’s Day, our General Manager Emma Jalonen attended WOW – Women of the World Festival at London’s Southbank Centre. President Tarja Halonen – the first female President of Finland – was one of the speakers at the event, discussing global feminism with anti-FGM activist Nimco Ali, the festival’s founder Jude Kelly, Zainah Anwar, the founder of Malaysian organisation Sisters in Islam and Purna Sen, Director of Policy at UN Women, in a panel discussion led by legendary singer, activist and humanitarian Annie Lennox.

The event, in its 9th year, is part of a global movement celebrating women and girls and looking at the obstacles that stop them from achieving their potential. President Halonen’s visit was organised by the Embassy of Finland in London and the Finnish Institute in London.

 

 

FBCC Member Goodwille is recruiting a Financial Controller

FBCC member Goodwille is recruiting a Financial Controller. This is a great opportunity if you have a passion for numbers and you would like to work with amazing colleagues.

Goodwille is a forward-thinking, ambitious company dedicated to providing foreign businesses with the kind of professional services required to establish themselves and flourish in the UK. These include Corporate Legal, Finance, People Management, Payroll & Virtual Offices.

You can read more about the position and how to apply here.

 

Finnish-British Chamber of Commerce

The FBCC is an independent, non-profit organisation, recognized throughout the Finnish, British and international business communities. The Chamber offers four different membership categories: Patron, Corporate, Professional and Junior.