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1. CULTURAL CONSIDERATIONS FOR LINCOLNSHIRE SMEs Iwona Lebiedowicz www.iwonalebiedowicz.co.uk www.pabsema4.co.uk www.pablanguages.co.uk

3. Expertise • Offer advice on leading diverse teams and communicating with foreign business partners and clients. • Over fifteen years' experience in senior leadership positions in public and private sector organisations and Over 30 years of combined experience in management. • Qualifications • Master's in Management with specialisation in International Relations • NLP Certified Practitioner and Advanced NLP Diploma in Coaching • Financial Times Non-Executive Director Advanced Diploma • Current Associations • Magnet UK Consultancy Ltd t/a Iwona Lebiedowicz Consultancy • PAB Languages Centre Ltd • East Midlands International Trade Association (EMITA) • Centrepoint Outreach Ltd www.pabsema4.co.uk www.iwonalebiedowicz.co.uk www.pablanguages.co.uk

4. If you want to build thriving relations with more people from different countries and cultures - We are the people !  Language and Cross-Cultural Business Assessment  Leading across borders training  Training for HR Professionals  Communication with non-English Speakers training  Language Courses  Translation and localization services  Cultural Adaptation Training www.pabsema4.co.uk www.iwonalebiedowicz.co.uk www.pablanguages.co.uk

5. What is Culture? “the way we do things around here” “what we believe to be truth and how we behave” www.pabsema4.co.uk www.pablanguages.co.uk

6. “Iron rules” of international business “Sellers adapt to buyers” RICHARD R. GESTELAND www.pabsema4.co.uk www.pablanguages.co.uk

7. Informal & Formal Formal: hierarchical (ceremonial) Informal: egalitarian (non-ceremonial) www.pabsema4.co.uk www.pablanguages.co.uk

8. Deal-Focus & Relationship-Focus DF: task-oriented (“pushy, aggressive”) RF: people-oriented (“dilatory, vague”) www.pabsema4.co.uk www.pablanguages.co.uk

9. Rigid-Time & Fluid Time • Rigid: time-oriented • Scandinavian countries • Germany • Japan • Russia • Fluid: people-oriented • Arab countries • Spain • France • Italy www.pabsema4.co.uk www.pablanguages.co.uk

10. Expressive & Reserved www.pabsema4.co.uk www.pablanguages.co.uk

12. Let’s see how much you know…… www.pabsema4.co.uk www.pablanguages.co.uk

13. 1. In all but one of the following countries it is expected that you bring a gift to a business meeting. In which country is it NOT expected? • China • Japan • Czech Republic • Denmark • Bolivia www.pabsema4.co.uk www.pablanguages.co.uk

14. 1. In all but one of the following countries it is expected that you bring a gift to a business meeting. In which country is it NOT expected? • China • Japan • Czech Republic • Denmark • Bolivia www.pabsema4.co.uk www.pablanguages.co.uk

15. 2. In Saudi Arabia, which is considered a popular gesture of friendship between men? • a high-five • holding hands while walking • a handshake • winking • a hug or kiss on the cheek www.pabsema4.co.uk www.pablanguages.co.uk

16. 2. In Saudi Arabia, which is considered a popular gesture of friendship between men? • a high-five • holding hands while walking • a handshake • winking • a hug or kiss on the cheek www.pabsema4.co.uk www.pablanguages.co.uk

17. 3. Which of the following should not be given as gifts in the Chinese culture? • clocks • shoes, particularly straw sandals • a handkerchief • towels • all of the above www.pabsema4.co.uk www.pablanguages.co.uk

18. 3. Which of the following should not be given as gifts in the Chinese culture? • clocks • shoes, particularly straw sandals • a handkerchief • towels • all of the above www.pabsema4.co.uk www.pablanguages.co.uk

19. Urbanization Nationalism Colonisation Education Personal Culture Migration Industrialization Values Beliefs Behaviours Minority Experience Social background Cross-cultural Adjustments Ethnic background Profession Religion Gender Language Forces Shaping Individual Culture www.pabsema4.co.uk www.pablanguages.co.uk

20. Awareness vs Dangers • Languages spoken • Eating habits • Dress Code • Religion • Family • Time • Attitudes to health and safety • Stereotypes • Prejudice • Ethnocentric perspectives www.pabsema4.co.uk www.pablanguages.co.uk

21. If you want to build thriving relations with more people from different countries and cultures - We are the people !  Language and Cross-Cultural Business Assessment  Leading across borders training  Training for HR Professionals  Communication with non-English Speakers training  Language Courses  Translation and localization services  Cultural Adaptation Training www.pabsema4.co.uk www.iwonalebiedowicz.co.uk www.pablanguages.co.uk

22. Спасибо 谢谢

24. Financial Planning For The Twenties And Beyond James Espin BSc (Hons) Dip PFS Financial Planner IQ Financial Advice

25. Overview • Who are the Millenials? • Ten top tips for a prosperous future. • Conclusion. • Questions? Sources: FCA 2017, Morning Consult,

26. Millenials • Born between mid-80s and early 2000s and represent 12% of the population. • Saving, but focussing on short-term, i.e holidays, debt, house purchase. • Nearly one-third of Millenials are worse off than they thought they’d be 10 years ago. • Average age of a first-time buyer in the UK has risen to over 30. • Only 20% are saving for their retirement. • Only 6% of 18-34 year olds take financial advice. Sources: Statista, FCA 2017, Morning Consult

27. TEN TOP TIPS

28. 1. Money is a tool • Don’t think of money as the solution to your problems. • Think of it as a tool to create the life / lifestyle you want. • Make smart choices over saving, spending & investing. • Whilst trading your time for money today, become a diligent saver. In the future you will be able to use your money to give you the time to do more of the things that really matter in life.

29. 2. Create a financial plan • Financial Planning is about understanding your dreams and life goals, knowing the resources you have available, and what you need to generate to help you achieve them. • There are 3 stages to creating a true financial plan: • Life planning • Financial planning • Financial Advice

30. 3. Develop a budget • Identify where your money goes each month. • Differentiate between your needs, wants and dreams. • Work out your essential living expenses: • Bills, i.e. Housing costs, food, mobile phone... • Identify your lifestyle spending: • Gym, coffee, meals out... • Allocate a monthly amount for short and medium term goals. • Try to maintain a positive cashflow and avoid unnecessary extravagances.

31. 4. Repay debt • Many of us start our adult life with student debt. • Effectively another tax as it is income-based and written off after 30 years. • Start off focussing on the most expensive debt first: • Payday loans • Credit cards • Personal loans and other short-term debt • Consider consolidation of credit cards into a personal loan. • Mortgages aren’t ‘bad’ debt and are necessary for most house purchases.

32. 5. The wonders of compound interest • A phenomenon Albert Einstein once lauded it as the eighth wonder of the world. • Start saving as early as possible. • £300 per month saved from age 20 to age 60 at 7% return per year: A lump sum of £792,037 • Wait until age 30 to start saving: A lump sum of £368,126 Over £420,000 less! Only £36,000 extra in contributions.

33. 6. Increase savings as you age • Twenties are a time with great demands on money: • Buy a car • Travel the world • Buy a house • Get married • Start low and increase savings level as you age: • Save 1% of income at age 20 and increase this by 1% per year • By age 30 you will be saving 10% of your income • By age 40 you will be saving 20% • Consider increasing savings levels when receiving a pay rise • Saving is more affordable later in life but start the habit young.

34. 7. Let your employer help • Join your workplace pension. • For a contribution of 4% of earnings, you will receive a further 4% from your employer and the government. • £1,000 becomes £2,000 immediately. • Some employers will match your contributions to a certain level.

35. 8. Build an emergency fund • Create a ‘rainy day’ fund. • Try to build up between 3 and 6 months’ worth of living expenses. • Keep in an Instant Access Account so penalty-free access. • Avoid using credit cards and other forms of debt to cover emergencies.

36. 9. Quit the Bank of Mum & Dad • Aim to become financially self-sufficient. • 6 in 10 parents provide financial support to their adult children. • 50,000 UK property transactions will be enabled by parents digging into their pensions for the deposit. • Another 44,000 will be supported by parents releasing equity from their own homes. • You may put your parents’ own retirement at risk. • Around one in five of the over-55s helping their children on to the property ladder are accepting a lower standard of living for themselves to do so. • One in 10 say they feel less financially secure themselves as a result of doing so. • So much for parents’ SKI-ing! Source: LIMRA Secure Retirement Institute, Legal & General

37. 10. Protect yourself against disaster • UK employees just 32 days from the breadline: • 23% do not save any of their income each month, so they could be on the breadline tomorrow. • Unprepared Brits: • 30% of employees in the UK don’t have any financial back-up plans, if they were affected by long-term critical illness, disability, loss of salary, redundancy, or death. • 55% of people insure their pets but only 9% insure their income! Source: Legal & General 2019, Which 2019.

38. Conclusion • Take ownership of your own situation. • Create life goals and identify the monetary cost. • Understand what’s coming in and going out. • Create a plan to achieve your goals. • Protect your plans against financial disaster.

39. Questions? Useful sources of further information: • Money Advice Service (MAS) - https://www.moneyadviceservice.org.uk • Citizens Advice Bureau - https://www.citizensadvice.org.uk/