Ben Sumner – Gearing up for a triumphant season

Ben_in_race_modeAs huge cycling fans, Gener8 Finance are pleased to announce that we are sponsoring one of the country’s leading Cyclo-Cross riders, Ben Sumner for the 2015/16 season.

Cyclo-Cross is already extremely popular in Europe, as both a participation and spectator sport, and is rapidly gaining popularity in this country. It is very different to traditional road and track racing, and involves riding over a variety of terrains, including fields and tracks, with competitors having to dismount and carry their bikes over obstacles.

Oxfordshire-based Ben (pictured right), 21, is the reigning under 23 Trophy Series champion, a title he also won in 2014. In addition, he won his third consecutive bronze medal in the under-23 category at the British National Cyclo-Cross Championships in 2015.

Ben’s Under-23 category success was also enough to see him come 3rd in the National Trophy Elite Men’s Series – we are confident that he is heading for greatness, and at Gener8 we are proud to be supporting him all the way.

Ben rides for the Beeline Bicycles Cyclo-Cross team, which is owned by Beeline Bicycles, Oxford’s leading cycle retailer (www.beelinebicycles.co.uk). The Beeline team is a huge supporter of up-and-coming cyclists in the U.K. and has a stable of talented young riders.

Beeline_Homepage_logo_x1sizeThe cycling season begins again in October, and will see Ben compete in the Round 1 of the National Trophy series in Southampton, on the 11th. His main goal this year is to focus on the National Trophy, and win the yellow jersey!

Pre-season training is going well, with Ben recently competing in the Eastern Cyclo-Cross League (www.easterncross.org.uk/race15-16-1.htm) at Basildon Sporting Village in Essex, which he won comfortably, beating the 2nd placed rider by a full 1 minute 20 seconds!

“For the first race back I was just testing my legs really. I’m going to be focusing on the National Trophy this season, and aiming for that yellow jersey. I don’t think that’s an unrealistic expectation.” (Ben Sumner)

Gener8 will be following Ben’s progress as he continues to compete across the UK and Europe, and we will be sharing his journey with you.

You can follow Ben & Beeline at:

Twitter: https://twitter.com/bensumner  https://twitter.com/beelinebicycles

FRP Advisory, Brentwood, raise more than £14.5k for charity

The Brentwood office of FRP Advisory, recently held its biggest-ever fundraising campaign – a charity triathlon, inviting members of the business community to take part.

The event, which attracted over 140 competitors, comprised of a 400m open-water swim, followed by a 20km bike ride and a 5km run.

p1Gener8 Finance, who co-sponsored the event, put in a team and came in a creditable 9th out of 38.

“It was great to be able to support our friends at FRP Advisory in raising money for such a wonderful cause. We are a sporty bunch at Gener8 generally and so it was a pleasure to be able to enjoy some good-natured competition in great company. I was also pleasantly surprised at our team’s finishing position!” Paul Stokes. Gener8 Finance Managing Director.

The event itself was a huge success “The response was phenomenal, we couldn’t be more pleased,” said Glyn Mummery of FRP: “We set ourselves a target of raising £10,000 for Little Havens Childrens Hospice and thanks to the support of the business community and sponsors, which included Gener8 Finance Ltd, we’ve exceeded that target, reaching £14,581.09 so far.”

Our aim now is to make it a permanent fixture in the corporate calendar and from the feedback we’ve had, we know it will be bigger and better next year.”

Pictured right, the Little Havens resident Pooh Bear holds the cheque presented
IMG_3737 (2)by FRP Advisory. Little Havens will use the money to provide respite breaks, symptom control and end-of-life care to youngsters not expected to reach adulthood because of a life-limiting or life-threatening condition. www.havenshospices.org.uk .

The Gener8 team would like to congratulate FRP Advisory on organising such an enjoyable event, and to thank Little Havens Hospice for the fantastic work that they do.

Invoice Finance restrictions on contracts to be outlawed from early next year

Anna_Soubry_MP_MOD_45156137

Anna Soubry

Minister for Small Business, Anna Soubry (pictured left) has announced that, from early next year, clauses in commercial contracts that obstruct the use of invoice finance (including “ban on assignment” clauses) will be outlawed.

This move is a direct result of the government’s crackdown on Britain’s late payment culture, after it was estimated that British businesses are owed approximately £26.8 billion in overdue payments – a figure that is set to rise.

For some businesses, invoices are the only assets against which they can borrow and larger firms especially can use restrictions in their terms and conditions to prevent supplier invoices being financed. This leads to delayed payments, and cash-flow difficulties for many SMEs.

Jeff Longhurst, chief executive of the Asset Based Finance Association said: ‘This is good news for UK businesses. Invoice finance is a key source of funding for SMEs in particular, and taking effective action against bans on the assignment of invoices will allow more businesses to unlock the funding tied up in their unpaid invoices.”

The Government has consulted a wide range of interested parties on this subject, including business owners, trade associations, lenders, academics and legal practitioners, and this change in the law is the result of feedback received.

A summary of the changes is as follows:

  • Apply to business to business contracts only (and not business to consumer contracts).
  • Extend to all businesses, regardless of size.
  • Exclude financial services contracts.
  • Exclude contracts with interests in land.
  • Do not create any special provisions for supply chain finance arrangements. This will allow suppliers to opt into supply chain financing agreements or seek alternative arrangements with other invoice financers.
  • Begin from commencement of the regulations – changes will not be retrospectively enforced.
  • Only apply where the parties conduct a business to business transaction under English law and one of them carries on business within the UK.

The Government hopes that by implementing these changes, it will directly benefit smaller businesses and reduce the abuse of position that some larger companies have exerted in the past. It is also hoped that it will contribute to making the UK a more attractive place to start and grow a business without fear of cash-flow issues or access to needed funds.

Racing to Gener8 some cash!

Paul Stokes training for the L'Etape Du Tour

Paul Stokes training for the L’Etape Du Tour

Gener8 Finance’s newly appointed Managing Director, Paul Stokes, is set to race in the 23rd edition of L’Etape Du Tour, on July 19th 2015 in the French Alps, in aid of charities; Help Harry Help Others and the Teenage Cancer Trust.

L’Etape Du Tour was established in 1993 to allow amateur cyclists, such as Paul, to test their legs on the route of one of the mountain stages of the Tour de France. This year’s 148 km course involves over 4000 vertical metres of climbing in anticipated temperatures of 30 degrees – an incredibly difficult challenge.

Beginning in Saint-Jean-de-Maurienne, the route will take Paul through many scenic locations, not that he will have much chance to take in the views, as he cycles up 4 legendary Tour De France climbs – Col Du Chaussy, Col De La Croix De Fer, Col Du Mollard, and finishing at Ta Toussuire.

When asked why he wanted to do the tour, Paul commented,“I have always loved watching the Tour De France, but the last bike I actually owned was a Raleigh Chopper back in the 1980s. The set-in of middle-aged spread sparked me into action and I saw taking part in a Tour De France stage as the ultimate inspiration to commit to a serious training regime.”

To prepare for the 142 kilometer stage, Paul has been training 5 days a week, with the help of cycle coach Tim Ramsden of Black Cat Cycling. Using a combination of high intensity indoor training and longer outdoor rides, Paul’s training stats include:

  • Losing over 2 stones in weight, burning in excess of 97,360 calories.
  • Over half a million pedal revolutions on the indoor Wattbike trainer.
  • 3800 + training miles

Having recently been out to France on a training ride, he is fairly confident that he has done sufficient training to get the job done.

Paul was keen to use a challenge of this magnitude to raise funds for charity. He asked his 2 boys Dylan (13) and Reece (10) to select the charities they wanted their dad to support. Paul says “I am proud of my boys that they chose Paul Stokes in training for the Tour De France mountain stagesnot 1 but 2 amazing causes for me to raise money for – Help Harry Help Others (www.hhho.org.uk), and Teenage Cancer Trust (www.teenagecancertrust.org)”.

Help Harry Help Others was started by the incredibly brave Harry Moseley, a young lad from Birmingham. Whilst battling an inoperable brain tumour himself, Harry was inspired to make a difference to all people with brain cancer, by raising money and awareness, making and selling his world-famous bracelets and organising nearly 100 events. Tragically, Harry died in 2011, aged just 11, but his legacy lives on and Paul is looking to raise as much money as possible in his memory.

Similarly, Stephen Sutton was an incredibly heroic young man who, before he died from cancer at just 19, raised millions for Teenage Cancer Trust. Famous for his indomitable spirit, characterised by his trademark “thumbs up”, Stephen’s bucket list of 46 things that he wanted to do before he died touched the nation.

Paul says about the charities “both Stephen Sutton and Harry Moseley were 2 very brave lads, and when I am having a tough time in training, their stories put everything into perspective and give me all the inspiration I need to keep going”.

Paul Stokes from Gener8 FinanceWith such a large challenge ahead, Paul has been supported by British bike designer and supplier, 2X2 Worldwide Limited (www.2x2worldwide.com), the Warwickshire based supplier of the Roux range of road bikes. In addition to the Roux range, 2X2 also design and supply Land Rover branded bikes. Paul is proud to be flying the flag in France, riding a British bike brand.

Paul will be using Make A Donation (make-a-donation.org) to collect sponsorship money. Make A Donation is an on-line charity donation website that passes 100% of sponsorship money to charities with no fees, commissions or deductions made from funds raised whatsoever. Paul comments, “using Make a Donation makes complete sense – not only do my chosen charities bank every penny donated, the people who donate also receive rewards as a thank you for their generosity. It’s a complete win-win”.

If you would also like to support Paul and his chosen charities, please visit http://www.make-a-donation.org/fundraisers/paul-stokes to make a donation. Alternatively, if you would like to learn more about how you can support Paul’s challenge or find out more, call 07557 303333.