DIAN SKELTON EXPLORES THE USES OF WOOL

On this week’s Dian Skelton blog I will be discussing the various uses of wool; one of the most versatile fibres known to man. http://www.dianskelton.co.uk/dian-skelton-explores-the-uses-of-wool/

DEFA TO HOST POPULAR MARKETING WORKSHOPS

On today’s Dian Skelton blog I will be discussing the news that the Department of Environment, Food and Agriculture (DEFA) will be once again hosting its popular workshops for anyone who is involved in the food and drink industry on the Isle of Man. http://www.dianskelton.co.uk/defa-to-host-popular-marketing-workshops/

HOW AUSTRALIA’S WOOL INDUSTRY FLOURISHED FROM SIX MERINO SHEEP

On today’s Dian Skelton blog I will be discussing how Australia’s wool industry flourished from the humble beginnings of just six Merino sheep. http://www.dianskelton.co.uk/how-australias-wool-industry-flourished-from-six-merino-sheep/

SUFFOLK COUNCIL AWAITS EU FUNDING DECISION

Previously on the Dian Skelton blog I brought you the news that Suffolk County Council have applied for a £2.2 million grant from the LEADER programme to improve their wool towns as part of the ‘Suffolk wool towns’ project. http://www.dianskelton.co.uk/suffolk-council-awaits-eu-funding-decision/

WOOL WEEK TUTORS TO HOST KNITTING CLASSES FOR CHILDREN

Today’s Dian Skelton blog, I will be discussing the announcement that Shetland’s wool tutors will be hosting knitting classes for children that will take place in the New Year. http://www.dianskelton.co.uk/wool-week-tutors-to-host-knitting-classes-for-children/

DIAN SKELTON EXPLORES SUFFOLK’S WOOL HERITAGE

On today’s Dian Skelton blog I will be discussing Suffolk wool heritage once again – following on from last week’s blog post. Suffolk has a somewhat convoluted wool history in the sense that many people don’t know the extent to which Suffolk benefited in economic terms. http://www.dianskelton.co.uk/dian-skelton-explores-suffolks-wool-heritage-2/

NORTH WALES ARTISANS GO FOR COLLECTIVE APPROACH

On today’s Dian Skelton blog, I will be discussing the announcement that the artisan of North Wales have decided to pool their resources together in an effort to break into the ultra-competitive Christmas luxury hampers market. http://www.dianskelton.co.uk/north-wales-artisans-go-for-collective-approach/

£2.2 MILLION PLEDGED TO SUFFOLK WOOL TOWNS

On today’s Dian Skelton blog, I will be discussing the announcement that Suffolk’s wool towns could share in a £2.2 million grant that will aim to rebrand and attract more tourism to the region. http://www.dianskelton.co.uk/2-2-million-pledged-to-suffolk-wool-towns/

MOSTLYMANX MAKES AWARDS FOR EXCELLENCE FINALS

On this week’s Dian Skelton blog I will be discussing the news that MostlyManx, founded by Dian, has been shortlisted in the finals for the Awards for Excellence in the Small Enterprise Category. http://www.dianskelton.co.uk/mostlymanx-makes-awards-for-excellence-finals/

KENDAL WOOL GATHERING PLANNED FOR THIRD SUCCESSIVE YEAR

On this week’s Dian Skelton blog, I will be turning my attention to the Kendal Wool Gathering which, having enjoyed another successful year, will return in 2015. The festival organisers saw a 61 per cent increase on the 2013 Gathering with around 6,500 people turning out at K Village. http://www.dianskelton.co.uk/kendal-wool-gathering-planned-for-third-successive-year/

ALNMOUTH WOOL AND CRAFTS EVENT ENJOYS THIRD SUCCESSIVE YEAR

On this week’s Dian Skelton blog I will be discussing the Alnmouth Wool Craft Fair that took place on the weekend of the 31st of October. The event marks the third year for the north Northumberland event that also hosts Sheep Tales and Spinning Yarns exhibition. http://www.dianskelton.co.uk/alnmouth-wool-and-crafts-event-enjoys-third-successive-year/

Growing Popularity in Wool Marked by Ever Popular Festivals

In recent weeks, there has been a marked increase in news coverage for wool. It has been reported by several media outlets that wool popularity is increasing across Britain and other parts of the world. So, on this week’s Dian Skelton blog, I will be discussing the increasing popularity of wool and wool festivals. Read more at http://www.dianskelton.co.uk/growing-popularity-in-wool-marked-by-ever-popular-festivals/

Kidderminster Artist to Showcase the Wonders of Wool

On today’s Dian Skelton blog I will be discussing the news that a Kidderminster artist Raya Brown, will be hosting a special workshop that will showcase the wonders of wool. The purpose of Ms Brown’s workshop is to enlighten and teach people about material felt making and wool painting.

Dian Skelton is Director at ViewPoint Software Services Limited, founder of the MostlyManx artisan shop on the Isle of Man and co-owner of the Laxey Woollen Mills. The Mills specialises in producing Laxey Manx Tartan which is unique to the Isle of Man.

Cultural Influence

Raya was born in St Petersburg, which is considered the cultural capital of Russia, so she has a natural affinity for exploring resources from around the world. This led her to the UK, where she began producing wool and felt and eventually led her to open her own art and craft studio – the magic wool studio. Commenting on her journey, Raya said:

“I am trying to promote felt making and wool painting in this country as the interest towards natural and substantial recyclable fibres is growing and my techniques offer unique therapeutic and tactile experience to people with different emotional and learning problems…Together with the local Woolwise shop in Kidderminster we are trying to raise an interest towards the British wool which is still underestimated by many people."

Raya is an experienced art and felt maker and has 18 years of experience in the industry where she has taught children and adults in both the UK and Russia. The Kidderminster workshop will perhaps give people who are interested in wool and felt making a more personal experience. A free demonstration will be held between 11am and 3pm on Saturday December 6^th.

An Admirable Cause

What is perhaps most endearing about Raya’s stories is her devotion to a traditional British industry. As you will know, Dian Skelton readers, I often write about the history of the wool trade and the importance or remembering regional heritage. For many towns and villages in England, the wool trade not only brought income, but allowed them to thrive and prosper.

This is the sentiment echoed by organisers of the many wool festivals around the country and Raya herself seems to echo this sentiment also.    

Dian Skelton Reviews the Woolmark Company Wool Care Guide

On this week’s Dian Skelton blog I will be discussing the Woolmark Company’s new app. The innovative new app will allow people to access information about wool care on their Apple and android devices.

Dian Skelton is Director at ViewPoint Software Services Limited, founder of the MostlyManx artisan shop on the Isle of Man and co-owner of the Laxey Woollen Mills. The Mills specialises in producing Laxey Manx Tartan which is unique to the Isle of Man.

Caring for Wool Apparel Made Easy

The app will explain to the user what the different logos that appear on wool products actually mean, as well as providing a guide on how to wash, dry and iron said products. This can all be done with the confidence that Woolmark Apparel Care products are tested and approved for their performance in caring for wool.

According to the Woolmark Company, caring for wool as never been easier. With this app, the user can understand care symbols, such as whether the wool item is washing machine friendly or requires a hand wash. The Woolmark app uses GINETEX approved symbols, thus eliminating confusion.

The Woolmark Company also tests and approves the wool cycles of washing machine appliances, tumble driers and irons. Appliances that have been approved by Woolmark will bear the Woolmark Apparel Care logo that indicates the appliance will wash wool effectively.

The Wool Care app also provides basic tips for washing wool apparel. For instance, the app recommends that wool garments are turned inside out prior to washing to preserve the outer surface. 

It also provides information on how to avoid colour bleaching during washing. Finally, there is also advice for stain removal of everyday substances such as coffee, wine and grease.

Quality Laundering Technology

Perhaps the whole premise behind the release of the Woolmark Apparel Care programme is to provide the very best laundering technology to its consumers when considering the best care options for wool garments. It allows for the Woolmark Apparel Care symbol to be licensed for use on detergents, washing machines, tumble driers, irons, fabric softeners and bleaches for domestic use.

Commenting on the app, the Woolmark Company Chief Strategy and Marketing Officer Rob Langtry said, “The Wool Care Guide app is part of the Woolmark Apparel Care programme’s overall strategy to provide consumers with educational and functional tools for laundering their wool apparel with ease.”

Mr Langtry continued, “These initiatives address a misperception among some consumers that wool garments are more difficult to care for than garments made from other fibres, yet we address these misconceptions through global marketing, education and R&D, spreading the message that wool is easy to care for.”

Dian Skelton – Director – ViewPoint Software Services Limited

Innovative Wool Business Set to Gain TV Recognition

On this week’s Dian Skelton blog, I will be discussing the announcement that an Old Blundellian is set to appear on BBC One’s Countryfile programme on Sunday November 2^nd. The programme will reveal the entrepreneurial spirit of Paula Steer and her nineteen year old son Lewis who run the successful Lily Warne Wool as a partnership.

Dian Skelton is Director at ViewPoint Software Services Limited, founder of the MostlyManx artisan shop on the Isle of Man and co-owner of the Laxey Woollen Mills. The Mills specialises in producing Laxey Manx Tartan which is unique to the Isle of Man.

Entrepreneurship and Enterprise

This innovative business was set up at their Dartmoor farm and in 2012 and specialises in producing wool and woollen products made specifically from the fleece of their traditional Greyface Dartmoor Sheep. Lewis was given his first sheep of the Greyface breed after receiving strong GCSE results at Blundell’s.

Naturally, as their flock grew, the Steers saw an opportunity to produce a unique range of products from the Greyface wool. Many of their products, such as brooches and headbands, are now stocked in high street retailer John Lewis, as well as the National Trust and other shops.

The programme will address Lewis’ work on the farm and his contributions to the Dartmoor Sheep Breeders Association (of which he is the youngest ever council member). The programme will also feature two local women who knit and crochet for Lily Warne Wool.

Charity Work

The programme will also focus on the charitable work done by the Steers. £1 of the proceeds made from the sale of the Lily Warne poppy brooches goes to the Royal British Legion. These poppies are also produced in the colours of the Blundell School with the same charitable donations.

Dian Skelton and MostlyManx

The story of Lily Warne Wool is not dissimilar from that of Dian Skelton and MostlyManx. Dian founded MostlyManx under the premise that it would serve to promote the heritage of the Isle of Man as well as the unique artisans on the Isle by providing them with an outlet to display their work. Dian is also familiar with charitable work as MosltyManx occasionally donate hampers at special and charity events.

  

Research Suggests That Wool Popularity is on the Rise

On this week’s Dian Skelton blog, I will be discussing the suggestion that the popularity of wool is on the rise. Although one particular article on this matter points out that wool productions for the 2014/2015 period is expected to be at its lowest for 70 years, it would seem that wool is now a premium fabric product.

Dian Skelton is Director at ViewPoint Software Services Limited, founder of the MostlyManx artisan shop on the Isle of Man and co-owner of the Laxey Woollen Mills. The Mills specialises in producing Laxey Manx Tartan which is unique to the Isle of Man.

One of the key acknowledgments from Premiere Vision in Paris was that Europeans are ditching their work suits in favour of woollen jackets and sports coats, with experts predicting an upward trend for the local woollen industry. Eamon Timms from wool broker’s Fox and Lillie Rural, described this trend as a ‘casualisation’ on the traditional dress code.  

A Lucrative Industry

The latter sentiment is further supported by the financial figures involved in the woollen industry. Wool apparel sells for a retail value of around $80 billion across the world and its price often averages five to seven times more than cotton.

Leading wool producer Australia has experienced recent droughts that have contributed to the decline of wool production as well as New Zealand, China and the U.S. further curtailing production. This goes some way to explaining the 70 year low that wool production is currently at. However, there is greater optimise for 2015 having seen Australian sheep numbers level after a 20 year decline.

Wool Popularity Growing in the Fashion Industry

In a recent article by ABC.net, a student at RMIT’s School of Fashion and Textiles, Samantha Bruechert, said that more and more designers were looking at wool when creating evening and formal wear describing it as a renewed enthusiasm for wool in the fashion industry. “There are a lot more local designers who are emphasising the use of [wool]”

Dian Skelton’s Thoughts

As you will know, Dian Skelton reader, Dian is a firm advocate of tradition and education. She echoed the sentiment of Mr Timms when he said “Do what your country does best, and grow the most of it that you can.” Dian also said she was pleased to see younger fashion designers like Miss Bruechert promoting the use of wool and using it creatively.   

Dian Skelton – Director – ViewPoint Software Services Limited

Kendal Wool Festival Returns for a Second Year

Previously on the Dian Skelton blog I brought you the news that the Yarndale festival was returning in September 2014 following a successful turn out last year. Similarly with the Kendal Wool Gathering, which enjoyed huge success in 2013. The festival will celebrate the town’s association with wool throughout its history.

A Proud Tradition

Dian Skelton is Director at ViewPoint Software Services Limited, founder of the MostlyManx artisan shop on the Isle of Man and co-owner of the Laxey Woollen Mills. The Mills specialises in producing Laxey Manx Tartan which is unique to the Isle of Man.

More than 4,000 came out for last year’s event which is held at the K Village shopping centre in Kendal. The festival offers a mixture of demonstrations, fun activities and displays all relating to the cloth on which the town was built.

Some of the key participant from last year have also announced their intentions to return this year, many of them are artisan businesses who specialise in wool and crafts. Similar to the Yarndale festival, the Kendal Wool Gathering gives artisans the opportunity to showcase their unique crafts.

As well as this, there is clearly a desire to maintain a level of tradition, with historian Roger Bingham been invited to give a talk on Kendal’s wool heritage. The Westmorland Agricultural Society will also provide livestock and displays, a discussion on sheep breeds and life on the fells. This aspect of the Kendal Gathering is perhaps unique in that it offers an insight into the processes by which the wool is produced.

An Opportunity to Educate

The Kendal Collaborative Partner-ship, a co-operative of Kendal primary schools has approached teachers to implement Kendal’s wool heritage into the Ghyllside school curriculum. The results of the changes implemented into the curriculum will be revealed at the Gathering when children will be given the opportunity to show what they have learned.

Dan Duxbury of Ghyllside school commented on the curriculum implementations, “Living where we do it is important that all of our children have the opportunity to learn about the way in which Kendal has grown and developed largely due to the thriving woollen industry.”

Dian Skelton’s Thoughts

Dian was particularly keen to praise the Kendal tradition. Speaking on the curriculum changes, Dian said it was an excellent opportunity to keep the tradition of Kendal’s wool industry alive by educating the young.

Dian Skelton – Director – ViewPoint Software Services Limited      

Yarndale Festival Returns to North Yorkshire

On this week’s Dian Skelton blog I will be discussing the announcement that the Yarndale festival will return following the 6,500 strong turnout success of the first festival last year. As you may have gathered my readers, the ‘Yarn’dale festival celebrates “all things woolly and wonderful”.

Artisans Coming Together

Dian Skelton is Director at ViewPoint Software Services Limited, founder of the MostlyManx artisan shop on the Isle of Man and co-owner of the Laxey Woollen Mills. The Mills specialises in producing Laxey Manx Tartan which is unique to the Isle of Man.

Officially called Yarndale 2014, the festival is an excellent opportunity to bring together artisans of yarn, fibres, haberdashery, kits, books, handmade garments and artwork. It also hosts a full programme of textile workshops that include lessons in Crochet, knitting and cloth dyeing. These programmes  

The official Yarndale website describes the event. ‘Artisans and retailers of the highest quality are selected to exhibit at Yarndale which makes it very inspiring for anyone with a love of yarn.’ The festival will once again take place at the market town of Skipton; an ideal location for such an event given its proximity to the Yorkshire Dales.

Enthusiasts Keeping Tradition Alive

As readers of the Dian Skelton blog will know, Dian is a keeper of traditions. Her ties to the Laxey Woollen Mills and Laxey Manx Tartan prove this. For Yorkshire, the wool industry used to be a thing of pride and tradition. That’s not to say that it isn’t any longer, but the cheap cost of imports and synthetic wool has shrunk and damaged an industry that once clothed the modest and the wealthy without distinction.

So, in some ways, the Yarndale festival harks back to the days where Yorkshire wool was a symbol of the county. Likeminded people gathering to celebrate a tradition that they were proud of, as a recent Yorkshire Post article addressed, the Yorkshire wool industry was prolific.

Dian Skelton’s Thoughts

Dian effectively promote the same concept as the Yarndale festival. The MostlyManx shop serving as a literal shop window for some of the highly skilled artisans that populate the Isle of Man. These artisans bare the Manx name as does the Tartan that the mills create, it does get much more traditional than that.

Dian was keen to describe her pleasure at seeing a group of people showing such enthusiasm to keep traditions alive. Given her Manx heritage, Dian commented on the importance of maintaining the identity of a specific region.    

Dian Skelton – Director – ViewPoint Software Services Limited  

Tartan Fabric Producers Benefiting From Russian Interest

Mcnaughton Holdings, the kilts to furniture fabric maker, have announced a 300 per cent increase in sales as a result in a surge of interest from super rich Russian oligarchs and the UK.

On this week’s Dian Skelton blog I will be discussing why sales have surged for tartan producers and what this means for the industry.

Russia Overtaking Germany

Dian Skelton is Director at ViewPoint Software Services Limited, founder of the MostlyManx shop on the Isle of Man and co-owner of the Laxey Woollen Mills. The Mills specialises in producing Laxey Manx Tartan which is unique to the Isle of Man.

Mcnaughton Holdings reported a 15 per cent increase in sales rising from £3.9 million to £4.2 million in the year to January. Of that increase, exports made up around 44 per cent of sales for both years. The growth can be attributed to Russia’s demand for high end furniture fabrics for hotels.

After a long economic downturn, Managing Director Blair Mcnaughton expressed his delight at seeing a significant growth in the sector. Commenting on the sales increase last year he said, “Sales in the current year to date are something like 200% up in Russia. That's a huge market for us.”

Focusing on Niche Markets

Mr Mcnaughton said that their success has come about after they decided to focus on niche markets last year having seen several years of decline prior. Companies like Johnstons of Elgin, who specialise in cashmere fabric, have also decided to focus on specialist markets with equally positive results.

Mr Mcnaughton said, “We very quickly realised the only way to go was by niching ourselves.” He also pointed out that there is a certain amount of disclosure between Scottish firms whereby they share specific information or leads that might benefit one another.

Mcnaughton Remains Bullish

Despite positive sales figures Mr Mcnaughton was bullish when commenting on the future. “Too many of the company's overhead costs increased at rates that were greater than the Retail Price Index with suppliers often attributing the inflation busting increases to fuel and climate change costs.”

Dian Skelton’s Thoughts

Given Dian’s affiliation with the Laxey Woollen Mills and Laxey Manx Tartan, she was keen to comment of the story. Dian said that she was pleased to see such a significant growth in an industry that people don’t really perceive as being lucrative or attractive.

She also praised the business foresight of companies like Mcnaughton Holdings for recognising and adapting to changes in the market and the need to focus on niche clients as a way forward. As a final comment she said it was also great to see tartan remaining ever popular as a symbol of tradition.   

For more information of ViewPoint Software Services please visit their Contact Page.

Dian Skelton – Director – ViewPoint Software Services Limited  

New Zealand Wool Referendum Gives Hope to Industry

A referendum proposed for October will request farmers to vote for the reinstatement of a levy on wool within the New Zealand wool industry. The levy would be between 2 and 5 cent per kilogram for greasy or slipe wool and would fund $4.6 million of good industry activity each year.

In this week’s Dian Skelton blog, I will be discussing this potential levy and what it will mean for the New Zealand wool industry and farmers.

An Industry in Need

Dian Skelton is Director at ViewPoint Software Services Limited, founder of the MostlyManx shop on the Isle of Man and co-owner of the Laxey Woollen Mills. The Mills specialises in producing Laxey Manx Tartan which is unique to the Isle of Man.

Some experts in the industry will acknowledge the need for such a levy, citing the somewhat stagnant condition of the wool industry in New Zealand as well as the need for leadership and direction. It would also fund good industry activities like research, education and promotion of the industry.

Sandra Faulkner, chairwoman of the Wool Levy Group said “Sheep farmers can help shape the direction of the wool industry by voting 'yes' in a referendum to reintroduce a wool levy to fund industry good activities of benefit to farmers and the wider wool industry."

She also commented on the need for an industry good body for the wool industry “There are 30 industry good bodies in New Zealand, yet wool is the only primary sector which is not represented.” I doing this, there is a hope that the aforementioned good industry activities would become a reality.

Opponents Want Proof of Benefits

The Wools of New Zealand (WNZ) company, which is owned by 700 farmer shareholders, said that it wasn't trying to tell fellow famers how to vote, but urged them to question the purpose of reinstating such a levy. WNZ chairman Mark Shadbolt said “The sheep industry is the sheep industry and it should represent wool and meat. Most of our farm animals are dual purpose and again we question, is this just a further duplication of costs?”

Mr Shadbolt went on to say that the industry already has the facilities in place to do the jobs that the levy would supposedly bring, citing the Wool Industry Research Consortium as an example and reiterated his belief that it would merely add further cost to the industry and potential cripple growers.

Dian Skelton’s Thoughts

Dian commented on the potential levy saying that it was a proposition made with good intentions. However, she voiced her concerns for the wool growers who may be hit by higher prices and the cost of the proposed good industry organisations that Mr Shadbolt suggests are already in place.

As Dian has said, in some cases the best option is to review the facilities you already have in place. If you believe that you need new facilities then it means that the existing ones are not operating to their maximum output. In some cases all that is required is a revamp or modernisation and working in both textiles and software, Dian understands the need to keep up with technology and the industry.

For more information of ViewPoint Software Services please visit their Contact Page.

Dian Skelton – Director – ViewPoint Software Services Limited  

Czech Textile Firms Benefiting From Banking Changes

Last November the Czech National Bank weakened the Czech crown in an effort to boost the countries textile industry. The daily newspaper Hospodářské Noviny published an article that showing sector growth in the first half of 2014.

On this week’s Dian Skelton blog I will be discussing this news and what it means for the Czech Republic’s textile industry.

Banks Supporting Business

Dian Skelton is Director at ViewPoint Software ServicesLimited, founder of the MostlyManx shop on the Isle of Man and co-owner of the Laxey Woollen Mills. The Mills specialises in producing Laxey Manx 

Tartan which unique to the Isle of Man.

Last week I brought you the news that the Bangladesh textile industry was suffering due to archaic regulations set by the national bank, who refused to adapt to modern banking regulations. This news from the Czech Republic is perhaps an example of how particular sectors can benefit from banks who are willing to adapt to market changes.

According to the report from ATOK (Association of the Textile, Clothing and Leather Industry) the Czech textile industry, which is focused primarily on exports, has had its most successful year since the financial crisis hit in 2008.

ATOK Director Jiři Česal commented on the announcement by Hospodářské Noviny confirming that the Czech textile industry had indeed enjoyed a steady 3 year period of growth since the central bank intervened in the currency market.

Česal revealed that the textile makers have seen their revenues increase by 12% to CZK 23.4 billion. Česal went on to say that, despite a very strong first half, he did not expect to see a drop between now and the end of the year.  

A Traditional Industry

For the Czech Republic, textile manufacturing for the garment industry is something of a tradition. However, in recent years the largest firms in the industry are orientated more towards producing material for other industry besides clothing.

These firms are also firmly fall into the export category with the largest, Juta, exporting 80% of its output. Juta is just one example of a firm who have benefited from industry growth, with revenues reaching nearly CZK 6 billion last year.

Dian Skelton’s Thoughts

Commenting on this announcement from the Czech Republic, Dian Skelton has said that she is pleased to see big banks making changes that benefit industries that are perhaps not at the forefront of people’s thoughts.

She went on to say that this particularly important when you consider the situation in Bangladesh, where an industry as important as textiles could be neglected by the national banks reluctance to change.
  

Old Fashioned Regulations Damaging Cotton Industry

A sharp fall in the Global cotton price has signalled the beginning of a troubling period for Bangladesh’s textile industry which is set to suffer significant loses.

In this week’s blog post, Dian Skelton will be discussing this announcement and investigating the reasons why Bangladesh’s textile industry is not adapting to global fluctuations.

Completely Avoidable?

Dian Skelton is Director at ViewPoint Software Services Limited, founder of the MostlyManx shop on the Isle of Man and co-owner of the Laxey Woollen Mills. The Mills specialises in producing Laxey Manx Tartan which unique to the Isle of Man.

Perhaps the most concerning aspect of this announcement is that it was actually avoidable. The old fashioned regulations set by the central bank of Bangladesh limit certain industries, such as the textile industry, from adapting to fluctuations that occur in the global market.  

Given that Bangladesh is the second largest garment exporter in the world, you would think that the central bank would give industries more freedom in order to flourish rather than tying their hands and making them vulnerable to price changes.  

The central bank does not promote modern financial tactics and therefore hedging commodity importers from price fluctuations.

How Does This Affect the Textile Industry?

China is currently the largest producer of fabric and importer of cotton, but they currently have huge volumes of carried-over stock meaning they need to curb the amount they import. They have done this by increasing duty on cotton imports.

In response to this, the global market feared a drop in demand and since June, cotton prices have fallen to 20 cents per pound, compared to the average $1 per pound and Bangladesh spinners had bought cotton for the latter price.

Since the central bank does not provide coverage for hedging, the spinner were left without coverage for market fluctuations. Spinners will either have to accept the financial loss or garment manufacturers will have to buy yarn at a higher price that is not consistent with the global trend.

Dian Skelton’s Thoughts

As somebody who has been in the textile industry for most of her life, Dian is of course very passionate about this subject. Commenting on this she said that the idea of a central bank restricting a highly fertile industry is extremely disappointing.

Dian also understands the importance of tradition, given her families ties to the Laxey Woollen Mills dating back to the 1950’s. Dian said that the textile industry in Bangladesh is one of the single most important industries in the country given the amount of income it provides and the tradition. 

Entity Management Company Offering Free Thirty Day Trail

Legal Entity Management software company EntityKeeper is offering new customers a free 30 day trail of their software in an effort to showcase their services.

In my blog post on the 18^th, I brought Dian Skelton’s readers the news that Scivantage intended to release new wealth management software. In this blog post I discuss EntityKeeper’s announcement and ask; is entity and wealth management software growing in popularity?

What is EntityKeeper’s USP?

EntityKeeper is focused on saving time and money, which in itself is an attractive prospect to any client. It practically does away with spreadsheets allowing the user to view their portfolio through a visualisation tool rather than multiple pages.

It prevents late fees and entity dissolution by tracking due dates and notifying the user via email. On top of this and perhaps most important is security. EntityKeeper uses state-of-the-art server protection.

Clients want entity and wealth management

Dian Skelton is Director at ViewPoint Software ServicesLimited. ViewPoint specialises in wealth and entity management solutions.

EntityKeeper is just one in a long line of software companies who are keen to promote their own entity or wealth management software, with more and more clients demanding streamlined methods for managing their assets.

Of course clients want transparency and organisation with it comes to handing over their own money and many software companies are beginning to realise this. The move from EntityKeeper to offer free trials shows the level of confidence they have in their software as well as the fact that clients are searching for the best entity management deals.

John Hosmer, COO of QuietStream Financial, said “we’re offering the free trial because we’re so sure this product will be beneficial.” EntityKeeper’s software is practically instantaneous once the brief sign up process is compete.

Dian Skelton’s Thoughts

As a leading entity and wealth management software expert, Dian Skelton believes that the entity and wealth management software industry is indeed growing in popularity. As Dian points out, she has been in this industry for 20 years and the advancement in computing has opened up a number of possibilities that allows the creation of software that covers most aspects of entity and wealth management.

She went on to say that if clients can get software that helps time management and gives added security for the same fee as a missing filing date would cost, then of course they will use it. If EntityKeeper’s software is as effective as they proclaim, then a free trail may draw in a great deal of clients.  

Independent Firms Flourishing Under Wealth Management Changes

Independent Firms are set to benefit from regulation changes to the wealth management industry. Wealth Management is an industry that continues to grow in the UK and the rest of the world and with new regulations coming into play the face of the wealth management industry is changing.

In this blog post Dian Skelton looks at these changes to the wealth management industry and discusses why it is a good thing, not just for independent firms, but big banks as well.

Banking Overhauls

Dian Skelton is Director at ViewPoint Software Services Limited. ViewPoint specialises in wealth and entity management solutions.

It seems that several of the UK’s largest banks have been involved in structural overhauls in recent months. Barclays’ wealth management division and Royal Bank of Scotland in particular have made significant changes to their structuring, in what appears to be an effort to simplify and re-focus their attention for better results and customer satisfaction.

Royal Bank of Scotland is planning to sell the overseas operations of Coutts, its private banking branch. While on the domestic front, it will merge Coutts with its UK commercial lending division.  

US banks have also been restructuring; with Bank of America Merrill Lynch and Morgan Stanley pulling out of the European wealth management industry to focus on America’s domestic market, which will inevitable result in them loosing clients.

How Does This Help Independent Firms

Of Course the restructuring of large banks may bring positive results in the future, but at this moment it means that relationships between bank and client will deteriorate temporarily, leaving the window open for independent firms to hire and poach new clients.

There are numerous examples of this to choose from, perhaps most notable in this case is Signia Wealth. Signia was set up by former Coutts Senior Client Partner Nathalie Dauriac-Stoebe in 2010 and specialises in private banking and asset management.

Stoebe is just one example of how independent firm and individuals can take advantage of the opportunities that are available in the wealth management industry.

Dian Skelton’s Thoughts

As an expert in this industry, Dian understands the opportunities that are available for independent firms. She agrees with other industry experts when they say that there is a fertile market to take advantage of.

Dian also commended these firms on their astuteness in identifying the gap in the industry and taking advantage of it. As well learning from banks mistakes and delivering a convincing pitch that bankers are more concerned with hitting revenue targets than advising clients, a mistake that independent firms will not make.     

     

HKMA Unveil 5 Year Plan for Wealth Management Push

Earlier this month Dian Skelton’s blog brought the news that HFDC Bank has opened a new branch in Dubai that will focus on wealth management. Now HKMA has announced its intentions to place more emphasis on its asset and wealth management industry as the number of millionaires in the Asia-Pacific region is set to increase.

In this blog post Dian Skelton looks at the Hong Kong Monetary Authority’s decision to increase its wealth management influence in the region and how this will be beneficial to the people who use the service.    

Increasing Wealth

Dian Skelton is Director at ViewPoint Software Services Limited. ViewPoint specialises in wealth and entity management solutions.

A recent report conducted by Capgemini and RBC Wealth Management has found that the number of people with more than 1 million US dollars available to invest is set to exceed that of North America. Despite this, Hong Kong is still behind mainland China who are now the third fastest region in the world at producing millionaires, ahead of the US, Japan and Kuwait.

With this in mind, the next 5 years will be crucial for Hong Kong as they intend to build their brand as a wealth management hub. Commenting on this, HKMA Chief Executive Norman Chan Tak-Lam said that Hong Kong must create a brand that instils quality, reputation and confidence in order to see this vision become a reality.

Sticking to their principles

Despite their desire to branch out in the wealth management industry, Chan said that HKMA intend to continue to promote the yuan and the treasury management business. “The HKMA is working closely with the Financial Services and the Treasury Bureau to review relevant taxation arrangements to encourage more multinational and mainland corporations to establish their treasury management centres in Hong Kong.”

Furthermore, Chan also stated his intention to regulate the mainland lending of local banks as well as supporting local fund industries.

Dian Skelton’s thoughts

Dian has once again stressed the importance of wealth management, which is something that has become clear over the last few month, with an increasing number of banks deciding to pool more of their resources into wealth management.

She also commended HKMA for recognising the need for more stringent wealth management assets given the increasing number of millionaires in the region. It is a service that will be met with enthusiasm for people living in the region who need a comprehensive means of managing their wealth.

Not only will this appeal to people living in the immediate region, but will also attract foreign investment providing HKMA play their cards right and succeed in turning Hong Kong into a wealth management hub.  

HDFC to Provide Wealth Management Services in Dubai

HDFC Bank Ltd is the second largest private sector bank in India and has recently announced the opening of a new branch at Dubai International Finance Centre that will focus primarily on wealth management.

In this blog post Dian Skelton discusses this announcement and what it means for non-resident Indians (NRI’s) living in the UAE.

Overseas Expansion

Dian Skelton is Director at ViewPoint Software Services Limited. ViewPoint specialises in wealth and entity management solutions.

This is the third branch that HDFC Bank has opened outside of India and will serve non-resident Indians residing in the United Arab Emirates. They already have two representative offices operating in Dubai and 

Abu Dhabi and will continue running these assets along with the new branch.

In a statement released by the bank they explained the purpose of the new branch. “The new branch at Dubai International Finance Centre (DIFC) will offer advisory services to NRIs regarding treasury products, trade finance, loans and other related services.”

Customer Care

Following the announcement, HDFC have been keen to stress the value of their customers. Equities Group Head Abhay Aima commented on this, “We will continue to expand our off-shore operations to meet the banking requirements of our valued customers.” He went on to say that HDFC were committed to serving the Indian community in the UAE region on a whole.

Ashish Parthasarthy, Group Head of Treasury, also explained that their other branches around the world offer corporate, trade finance, loans and deposits to corporates and ultra-high net worth individuals, but their new branch will focus more on treasury products, trade finance, loans and other related services. 

Parthasarthy also added that the services of the Bahrain and Hong Kong branches will also be made available to their Dubai clients too.

Dian Skelton’s Thoughts

Dian was keen to comment on this issue given her expertise in wealth management. She commended the enthusiasm of the HFDC Bank to reach out to its customers living outside of India to offer them the same services given to resident Indians.  

This latest branch emphasises the ambition of HDFC Bank to expand outside of India. As of June 2014, HDFC has a distribution network comprising of 3,488 branches and 11,426 ATM machines situated through 2,231 cities and towns.  

ViewPoint Training Overview with Dian Skelton

Following the announcement that ViewPoint Software Services Limited will be conducting entity administrator training sessions in August, lead trainer Dian Skelton will run through the fundamentals of these sessions in this blog.

Dian Skelton is Director at ViewPoint Software Services Limited. ViewPoint specialises in wealth and entity management solutions, these particular sessions will focus on the latter.

Section 1: Master File Maintenance

In this section Dian takes you through Master Files and how they are created and accessed. Master Files are files that contain client information so it is crucial that they are kept organised and secure at all times. Once Master Files are created they will be stored in your database and those that have recently been accessed will appear in the file list.

Section 2: Entity-Related Activities

In this section Dian takes you through everything relating to managing your entities. This section gives you the opportunity to learn how to arrange all your entity details into folders. Dian explains that this section may differ depending on the entity type and jurisdiction that the user has set. Within entity administration there are additional screens where you can enter information for the entity.

This is perhaps the largest section as it entail any and all details pertaining to entities. This may range from general entity details to more confidential details such as bank account or partner details.  

Section 3: Activities

This section focuses on how accessing all your client information can be made easier through the use of the activities folder and will help you in your daily tasks. This folder contains buttons that you can click to access relevant documentation without having to search for it manually.

Section 4: Jobs and Documents

Not only does ViewPoint help you store all your entity information, it also has features to assist in entity administration. In this section Dian will take you through some of the features that can be found in the general section of the Navigational Menu as well as the Home Toolbar.

This feature also has a ‘to do list’ that organises jobs that need completing as well as organising forms into queues. You may also wish to create Master File reminders in this section.  

Dian Skelton’s Thoughts

Dian is always keen to stress the importance of training as a form of education. She says the tools that ViewPoint Software Services Limited offer are detailed and accessible to people from all sectors who are looked for a clear and comprehensive way to manage their wealth or entities. 

Software Sector Expected to Grow Despite Fears of Flat Line

Despite fears of a flat line, new developments in software education have seen experts such as Dian Skelton suggest that the industry is set to record significant growth.

Education is Vital to Continued Software Sector Growth

Dian Skelton is a director at ViewPoint Software Services Limited. In this post she discusses the unexpected growth in the Software sector and why education is vital to ensure its continued growth.

This is why new developments in software education, announced recently, have caused experts such as Skelton to suggest that the sector is headed for renewed growth going forward, despite expectations of a market flat line. This comes as countries, particularly England and Wales, are now taking note of the importance of educating their youth in computer software, by implementing significant changes to their national curriculums.

Software Universities in Wales

Specifically, it has been announced that Wales intends to set up its first ‘software university’. Following concerns that there is a lack of software skills in high tech industries, a number of businesses have pooled their resources together in order to create this university. 

Furthermore, experts have expressed fears that Wales will fall behind its competitors if it does not review and change its approach to educating young people about software and coding. These experts have suggested that the youth in Wales may lose out on future employment prospects to people from outside the country, due to a lack of knowledge and competence in the software field.

Curriculum Changes in England

England is one of the many countries that has already made these changes. From September 2014 it will be mandatory for all English schools to teach coding and programming as part of the national curriculum, something that no other country currently does.

Given that the software sector is now expected to grow, these changes will arrive in a timely fashion for English schools. Although it will take some time for these changes to be fully implemented, it appears that there is an excellent opportunity for England to step into the lead in the digital race.

Although the curriculum changes have generally been met with positivity, some people have voiced concerns over how long it may take for teachers to adapt and learn the new curriculum themselves. As experts have said there is more to computing than coding alone.         

Dian Skelton's Thoughts

Commenting on this, Dian Skelton has said that the expected growth in the software sector is welcome news. Skelton says she is a true believer in education and stressed the importance of the curriculum changes, stating that it is a crucial step in ensuring that England, not only keeps up with its competitors, but rises above them and provides youngsters with the knowledge they need to succeed in this industry.