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Well as of June 30th 2004 UK Whitegoods became UK Whitegoods Limited, registered in Scotland at Companies House in Edinburgh, company registration number 270039.
Why?
There’s legion of reasons for doing this, not least of which is to limit any personal liability that I may have, but it runs much deeper than that in the developement of UK Whitegoods.
Okay so you all know I’ve been busy working on a few different projects, burning midnight oil and scurrying around doing stuff, well the time is not right to reveal all that I’ve been up to, but this is one of them.
I shyed away from the idea of a pukka Trade Association in the true sense of the term for several reasons, number one is I’ve yet to see one that isn’t too clunky and can react fast enough to market forces or change, a business can. I also see that we are all business people and I for one cannot see any other way to run this, even if it is giving a lot back to it’s members. Plus I wouldn’t have clue where to start with it as an association, but I can run a business, or so the rumour goes. 😉 There’s a host of other reasons that I didn’t steer that way as were discussed at the last meeting at Sibson and I’m sure they will be addressed again in Stafford in September along with some other points that will be raised in this post.
Sometime before the end of the year I will give away some shares in the company (yes, give them away for free!) and there will be some up for sale, initially to UKW Subscribers only with an approval and payment method that’s, shall we say, a bit different. I never much cared for the traditional routes of doing things and still don’t. 😉
For now there are three directors, two of whom that I chose I’m sure no-one will ask any questions of their integrity or intention to see the trade bettered, which is the primary goal of all this. Kevin Heath and Dave Conway. Currently the only other director and major shareholder is me.
UKW is earning revenue from advertising, albeit not much and from the spares sales which will be set to increase with the addition of the shop, which we hope to have live very soon. For that we had to get an SSL Certificate for trust as we want this done right, not some half-a**ed attempt at it. This is an ideaology that we want to continue with every project tackled and actually deliver benefits. However, with an income comes the fact that it becomes a business irrespective of what we think in the eyes of the law and the dreaded taxman, so there really was little choice in the end.
That said, bear in mind that I have no intention of running this as a conventional business in its purest definition, I still have a few surprises in store.
We also want this to as transparent as can be, that is very, very important. Yes there are things that, due to commercial sensitivity we can’t openly discuss, but the vast majority of UKW will be open to scrutiny by anyone that is entitled to do so, i.e. members or shareholders. This will be set in stone in such a fashion as to not allow it to be changed along with several other things being made crystal clear.
There is a lot more to come on this, a lot more I have to do in time and this is only the first step we’ve taken in formalising UK Whitegoods in any way, shape or form. I think it’s a positive move forward and allows a lot more to happen in the future.
What happens, when and how is, for a large part, up to everyone here.
K.
Re: UK Whitegoods Limited
Excellent, logical, businesslike approach and I give it my full backing.Registration within Scotland is also (legally) a good move!
Martin
Thanks Martin, there’s a lot more to happen with UKW in time, hopefully some of it I’ll be able to have live or very close to live for the meeting in Stafford. The aim is simple, to make our lives better and raise the bar a little, but sensibly.
The projects we’re working on are not two-minute jobs, nothing worthwhile ever is IMO and it has to be done right as well as being built to last well into the future. Hopefully it will help all of us get better and be better at what we do for a living.
And before any cynics start, if I don’t make a penny then I don’t care, that’s not the point of the exercise at all.
K.
Re: UK Whitegoods Limited
Interesting times ahead, and incorporation of UKW will indicate that the site and group is gaining credibility. What this site is becoming is a recognised link between, repair companies, retailers, manufacturers and work providers. What is paramount though is that the site remains in our hands and is not a victim of any future take-overs by shall we say interested parties. I know that will never happen though as we are growing daily and there is clearly a need for the site. No doubt all this has already been considered and there will be no need for concern.
The issue of shares will allow members to maintain confidence in the site, and give us a feeling of “ownership”. I for one would be happy to consider buying shares myself, and I would like to see anybody who receives some free shares, buy a few as well. I’m sure that would happen in any case.
Reading Ken’s original post on this there is a taster put out regards more to follow at WG-3 meeting at Stafford in September, (assuming the date remains the same). I really regret not being able to attend, (Holiday); as this sounds exciting and it would be great to be there and hear the latest 1st hand. I know I can rely on being kept up to speed, it would be nice to be on the spot at the time but that cannot be helped.
I agree with Ken, that this should not look to be a trade association, there is one already and that is under-subscribed.
Alex
Re: UK Whitegoods Limited
I would deffo consider buying shares into UKW.
A brilliant idea which would further the site and members and possibly open up other avenues of mutual benefit.The only areas of concern I can see is what the “rights” of shareholders would be, ie annual reports, voting and inspection of accounts and minutes etc, or am I taking this too far and missing the point / plot
On a lighter side could we apply for B.O.G.O.F 😉
Regards
Don
8)Re: UK Whitegoods Limited
Thanks for the comments, to answer some of the points I can in order;
Yes Alex, it has to remain within the repairer’s control, I intend to put measures in place to make sure it stays that way irrespective of who has what shares. That may affect the value in an open-market situation but increases the value to us, which is the point.
The point of allowing people to own shares in it is to let them feel a part of it and have an “official” say in what goes on as well as other reasons, which will become apparent in time. Suffice to say the intent is to bring benefits to the whole trade if it’s at all possible.
It’s that old chestnut of commercial sensitivity again, if I blurted all that we were up to then some bugger would doubtless jump in with an attempt to capitalise on our efforts…AGAIN!!
I don’t intend to let that happen if I can avoid it.
We’ll miss you at the meeting Alex, but I’ll keep everyone informed.
Annual reports etc. are generally of little concern in the main to most of us but they will be available to those that wish them as will accounts etc. be available. What we do want to know is what’s happening, how and when for the most part and what benefit it is to our businesses as they stand. But as I said, I want that to remain as transparent a proccess as is humanly possible given the givens.
Voting rights may well become a very important issue with shareholders votes deciding many issues. The point is that I, as you will all know, strongly agree with the democratic approach wherever it is possible to apply it and, people’s opinions count in my book.
Chances of a BOGOFF, zero! You wouldn’t want to devalue it from the get-go would you? 😉
K.
Re: UK Whitegoods Limited
What can I say other than ” IT HAD TO HAPPEN” It is the next logical step.
The main question now is when do you plan to break the news to the rest of the site and the trade in general.I would ask Ken, that you make your wishes on this timing crystal clear to all the members of the subscribers forum, as we dont want to let the cat out of the bag before YOUR good and ready.
It is quite clear that you will recieve your strongest support from the members within this particular forum as they have already shown committment with their continued support for the site, as well as the fact that they have also displayed their readiness to put their money where their mouth is.
It will obviously make one or two organisations within this trade very nervous when they see the arrival of UKW. Ltd. on the scene. So I feel that some direction would be useful.
Regards as Ever Del
Re: UK Whitegoods Limited
Del wrote:What can I say other than ” IT HAD TO HAPPEN” It is the next logical step.
The main question now is when do you plan to break the news to the rest of the site and the trade in general.Ta and the news will get out slowly anyway no doubt but I will pick a moment to port a load of this information over.
Del wrote:I would ask Ken, that you make your wishes on this timing crystal clear to all the members of the subscribers forum, as we dont want to let the cat out of the bag before YOUR good and ready.
Oh don’t worry, I have a strategy to deal with all this that I’ve been working on with Dave and Kevin all I need is for it to all come together cohesively and on time. What I don’t want to do is tip the hand too early so to speak, but Kevin will have a little post to make in a while, as soon as we’re ready. 😉
Del wrote:It is quite clear that you will recieve your strongest support from the members within this particular forum as they have already shown committment with their continued support for the site, as well as the fact that they have also displayed their readiness to put their money where their mouth is.
Yes, the support for what we’re trying to achieve is fantastic from you guys and it is very much appreciated, please be under no illusions, we know who and what we’re working at this for. Yeah, sure we’ll get some benefit from it just as we hope will everyone else and, let’s face it, we can hardly make the trade any worse!
Del wrote:It will obviously make one or two organisations within this trade very nervous when they see the arrival of UKW. Ltd. on the scene. So I feel that some direction would be useful.
I guess it may well do so but that’s not the intent. Hopefully it will allow a better trade to exist for us all we’re we can actually be happy going to work for a change. We can dream, but if you don’t get up and at least try…
K.
Keep it shtumm, don’t do a little post, do a bloody great big one! This is important, a BIG step on the credibility ladder and we should make the most of it.
Penguin.
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