Independent jewellers to benefit from new small business funding scheme
Nelson ’ s victory watch for the Battle of Trafalgar to be auctioned
China to use IDE factory to polish large diamonds
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RETAILERS
Independent jewellers to benefit from new small business funding scheme
Small business minister Andrew Griffiths has unveiled a new £ 8m fund to boost the productivity and performance of small businesses in the UK .
The ‘ Business Basics Fund ’ will help charities , trade organisations and public sector organisations support small businesses in adopting ‘ tried and tested ’ technologies and management techniques .
Research from the Confederation of British Industry ( CBI ) suggests that by encouraging more businesses to take advantage of leading technologies , management practices and business support services – such as cloud computing , mobile technology and e-purchasing – the UK economy could receive a £ 100bn boost and see a 5 % reduction in income inequality .
Griffiths said : “ Small businesses are the backbone of our economy , with more than 1,000 new businesses starting up every day , and it is vital that we support them to grow through our modern Industrial Strategy .
“ The ‘ Business Basics Fund ’ will test new and innovative ways of supporting small businesses to take advantage of technologies and management practices – giving small business leaders the tools and support they need to continue to thrive .”
Small businesses are the backbone of our economy , with more than 1,000 new businesses starting up every day , and it is vital that we support them to grow through our modern Industrial Strategy
Andrew Griffiths , Small business minister
AUCTIONS
Nelson ’ s victory watch for the Battle of Trafalgar to be auctioned
A watch that belonged to Lord Admiral Horatio Nelson and set the pace of one of history ’ s greatest naval battles is set to be auctioned by Sotheby ’ s next month .
Now mounted in a gilt-brass carriage clock case , the pocket watch is thought to be the timepiece carried by the Admiral during the Battle of Trafalgar . Offered with an estimate of £ 250,000 – 450,000 , the watch will feature at Sotheby ’ s Treasures sale on 4 July .
Nelson is thought to have acquired this Emery pocket watch or was given it by an admirer , following his triumph at the Battle of the Nile in 1798 . One of the 19 relics returned to Nelson ’ s mistress , Emma , Lady Hamilton , following his death , the watch was inherited by the Admiral ’ s brother , Willliam , 1st Earl Nelson and subsequently passed to his sole surviving child , Charlotte .
It is believed she arranged for the watch to be mounted in its current form as a carriage clock , presumably so it could be better admired and treasured as her illustrious uncle ’ s most precious possession .
Excluded from the group of precious relics , including the Admiral ’ s orders and decorations that were offered for sale in July 1895 and subsequently acquired for the nation by the British government , the watch is one of only a small handful of Nelson ’ s most prized possessions known to have survived and is still in private hands .
STAT OF THE MONTH
200,000
That ’ s how many businesses were taken to a Magistrates court for failing to pay for businesses rates under the first year of the new business rates revaluation .
DIAMONDS
China to use IDE factory to polish large diamonds
Chinese diamantaires will now have their large diamonds polished in a new factory being built by the Israel Diamond Exchange ( IDE ) and Israel Diamond Institute ( IDIIsrael ).
The IDE president Yoram Dvash and Shanghai Diamond Exchange ( SDE ) president Li Qiang , signed the “ historic agreement ” in Ramat Gan , Israel . Representatives on both sides noted that it was a rare case of “ globalisation in reverse ”.
Dvash said : “ This is a very unusual situation , whereby Chinese diamantaires will send their large diamonds to be polished in Israel . It is testimony to the well-known expertise of the Israeli polishers and the technological advances of the industry here .”
He added : “ The establishment of our new polishing plant for large stones is part of the technological revolution we are implementing at IDE , which includes the launching of the largest online store in the world for selling diamonds . Technology is the way to lead the industry on a successful path to the future , especially in light of the recent challenges we have been facing .”
8 JEWELLERY FOCUS
August 2018 | jewelleryfocus . co . uk