Yahoo Finance The Notebook: London’s electric drive is charging full speed ahead – but there are obstacles
Where the City’s brightest thinkers get a few things off their chest. Today, it’s Mike Randall, CEO of Simply Asset Finance
City’s electric drive charging ahead at full speed
Electric vehicles are everywhere in the City now; you can’t walk two minutes without seeing an electric cab or car driving past. I actually ride an electric Vespa to work myself – it’s a fantastic way to get from A to B, and it’s encouraging to hear so many others are making the change to electric too.
It’s an important step, particularly in cities, to make this drive towards electrification. We fund a lot of electric vehicles across the UK, so I know first-hand how this drive is impacting business owners – particularly when it comes to paying for it. And while I don’t often need an excuse to strike up conversation, it has sparked me to have many a chat with business owners up and down the country about how they are finding this transition and their thoughts on the pros and cons of it.
While in London it might feel like the infrastructure of electrification is growing at pace, we know across the rest of the country there’s still a way to go. A big consideration business owners are thinking about is productivity in specific lines of work and whether the electric version of a vehicle can fulfil the demands their business requires. While there are certainly areas like this that should be considered – the transition to a net zero economy is underway – we just need to be mindful of them as we build on the current successes made by the move towards electric.
There are certainly many pros of embracing electric for businesses, including lower bills, quieter operations and reduced maintenance costs. And of course, it significantly reduces the impact made on the environment. But as businesses look to grow and invest while making electric a core part of their model, we know they are still trying to understand what it really means for them. There are still hurdles to overcome, so it’s crucial we continue to support businesses making this important decision.
Recruitment lessons from Gareth Southgate
We saw the men’s England football team take on Belgium last night, a competitive fixture. It made me reflect on how I’ve always admired the approach Gareth Southgate has taken with the team. Nurturing a positive environment that embraces a diversity of ages and backgrounds and notes that as key to success.
When hiring, potential and diversity of background and thinking should be at the core. Forget looking at previous titles and past achievements; while these are nice to know, it should be about attitude and drive. I truly believe that anyone can achieve if they are given the support needed to accomplish. That has to be at the centre of any hiring policy.
Betting on apprenticeships
We saw Rishi Sunak speak at the Business Connect conference last week, where he committed to funding apprenticeships amongst other measures for SMEs. By covering the cost of apprenticeships for small firms, I only hope this will encourage even more young people to enter the workforce, learn skills crucial for their future careers and in the long-term, support the growth of businesses vital to the success of our economy.
I left home at 16 and went straight into work so I know only too well that support at that age can be incredibly impactful on your career. I see with my own eyes daily the positive impact of having a range of ages within businesses of all sizes, including our own. It fosters an environment of diverse thinking, idea generation and positive attitudes.
Some rare praise for Avanti
I used to spend a lot of my life on Virgin Trains (now Avanti) and I think I probably go against the grain on my thinking towards the service. You don’t often hear that someone loved their train experience, but I have to say the customer service was excellent. In the 10 years I commuted, I learnt a lot from the staff. It’s greatly inspired the service and culture I encourage from the team I work with. We have to put the customers we serve at the core of everything we do. If we understand them and their needs, it’ll ultimately get them the best possible solution.
Quote of the Week:
“My biggest motivation? Just to keep challenging myself. I see life almost like one long university education that I never had — everyday I’m learning something new.”
Richard Branson
A recommendation:
I’m a big fan of the ‘Full Swing’ documentary on Netflix. I think it’s great to see behind the scenes of professionals, and experience what has shaped their journey to be involved in high performing teams. Culture, attitude and belief play a big part, but I think the best lesson comes from knowing there’s no such thing as a ‘traditional’ route to success. We all have different journeys so it’s fascinating to see how they all compare.
