a&o funding european business nov2014
TRANSCRIPT
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8/10/2019 A&O Funding European Business Nov2014
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Oumjgmd Hurnphbm fusgmhss;T`bts t`h bithrmbtgvh>
Mnvhcfhr 6
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8/10/2019 A&O Funding European Business Nov2014
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Oumjgmd Hurnphbm fusgmhss; T`bts t`h bithrmbtgvh> | Mnvhcfhr 6
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8/10/2019 A&O Funding European Business Nov2014
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Enmthmts
Gmtrnjuetgnm 2:
T`bt gs mhhjhj tn cbah bpbm-Hurnphbm cbraht vgbfih> 28
Inbms nr fnmjs> 2?
Jgrhet nr gmthrchjgbthj cbraht> 24
Jnchstge nr pbm-Hurnphbm> 20
www.biihmnvhry.enc
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8/10/2019 A&O Funding European Business Nov2014
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Gmtrnjuetgnm
Gts innagmd gmerhbsgmdiy igahiy t`bt b pbm-Hurnphbm
prgvbth pibehchmt cbraht wgii kngm t`h cbgmstrhbcno enrpnrbth mbmeh gm 6 |Mnvhcfhr 6
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8/10/2019 A&O Funding European Business Nov2014
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Hurnphbm encpbmghs `bvh turmhj gmerhbsgmdiy tn
bithrmbtgvh mbmeh gm t`h pbst twn yhbrs. Gssuhrs orncHurnph beenumthj onr bfnut b t grj no t`h X.U. prgvbthpibehchmt cbraht gm 6
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8/10/2019 A&O Funding European Business Nov2014
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8/10/2019 A&O Funding European Business Nov2014
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Z@H UXV_HW VHUXIZU
Z`h rst bmj rbt`hr surprgsgmd rhsuit gs t`bt
mbmeh hxheutgvhs sby bithrmbtgvh oumjgmd gsbirhbjy b sgdmgebmt snureh no mbmeh.
Z`hy hxphet t`hgr ush no oumjgmd snurehjornc gmsurbmeh encpbmghs, phmsgnm oumjsbmj nt`hr mnm-fbmas tn gmerhbsh nvhr t`h mhxtvh yhbrs, fut mbmeh e`ghos stgii hxphet fbmas
tn piby b sgdmgebmt rnih bs gmthrchjgbrghs,`hipgmd brrbmdh erhjgt t`rnud` bithrmbtgvhsnurehs. Z`h shenmj mjgmd gs t`bt cnst
hxheutgvhs wnuij strnmdiy whiench cnrhbithrmbtgvh oumjgmd snurehs bmj shh bpbm-Hurnphbm prgvbth pibehchmt cbraht bsb ahy pbrt no t`bt pgeturh bs inmd bs t`hrhgs sueghmt eibrgty nm ensts bmj prnehsshs.
www.biihmnvhry.enc
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8/10/2019 A&O Funding European Business Nov2014
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@nw gcpnrtbmt gsbithrmbtgvh oumjgmd gm Hurnph>
Z`h cnst surprgsgmd mjgmd ornc t`gs rhshbre` gs t`bt nvhr 6
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8/10/2019 A&O Funding European Business Nov2014
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bmj e`gho mbmegbi nehrs survhyhj `hrh brh sbygmd bmj
gt enuij hxpibgm t`h jgvhrdhmt trhmjs s`nwm gm jghrhmt
stbtgstgebi snurehs.
Mhw fbma ihmjgmd `bs jheigmhj :6% gm Hurnph sgmeh 6
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8/10/2019 A&O Funding European Business Nov2014
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Ruhstgnm bsahj;\ihbsh gmjgebth t`h hxthmt tn w ge` ynu ushj hbe` no t`h oniinwgmd snurehs no oumjgmd vh yhbrs bdn bmj tnjby bs b phr ehmt no ynur tntbi oumjgmd>
U\VHBJ NO OXMJGMD OG_H WHBVU BDN BMJ ZNJBW
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8/10/2019 A&O Funding European Business Nov2014
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T`bt gs eihbr gs t`bt Hurnphbm mbmeh `hbjs brh tbagmd b cnrh
pgea bmj cgx bpprnbe` tn oumjgmd bmj mn inmdhr rhiygmd nm
fbmas tn prnvgjh onr bii t`hgr mhhjs pbrtiy t`rnud` mhehssgty
bmj pbrtiy juh tn gmerhbshj e`ngeh. Bmj t`h survhy rhsuits
prnvgjh bm gmthrhstgmd pgeturh no t`h hvnivgmd oumjgmd cgx.
Ebpgtbi cbrahts brh pbrt no t`h cgx onr 8
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8/10/2019 A&O Funding European Business Nov2014
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@nw wgii oumjgmd snurehse`bmdh nvhr t`h mhxt vh yhbrs>
Mhbriy `bio (:4%) no rhspnmjhmts hxphet t`hgr ush no bithrmbtgvh
oumjgmd tn gmerhbsh nvhr t`h mhxt vh yhbrs, w`gih nmiy 25% t`gma
gt wgii jherhbsh. Z`bt eihbr s`got tnwbrjs bithrmbtgvh mbmeh gs
t`h fgddhst trhmj tn hchrdh ornc rhspnmjhmts bmswhrs tn t`gs
quhstgnm. Cue` no t`h gmerhbsh gm bithrmbtgvh oumjgmd enchs bt
t`h hxphmsh no fbma ihmjgmd, w`hrh sigd`tiy cnrh rhspnmjhmtshxphet tn shh b jherhbsh. Tgt` ebpgtbi cbrahts, sigd`tiy cnrh
rhspnmjhmts hxphet bm gmerhbsh.
Jgddgmd jhhphr gmtn t`h jbtb fy sgzh no encpbmy, t`hrh brh snch
gmthrhstgmd mubmehs, `nwhvhr. Ogmbmeh hxheutgvhs ornc chjguc-
sgzhj encpbmghs brh pbrtgeuibriy hmt`usgbstge bfnut t`h gmerhbsh gm
bithrmbtgvh oumjgmd, wgt` nvhr `bio (8:%) hxphetgmd tn
ush cnrh, fut b t`grj bisn hxphet tn ush cnrh fbma ihmjgmd.
Z`hy bisn hxphet t`hgr ush no ebpgtbi cbrahts tn gmerhbsh sigd`tiy.
Onr ibrdhr encpbmghs, gt gs b jghrhmt pgeturh. Nmiy 65% no
rhspnmjhmts hxphet tn gmerhbsh t`hgr ush no fbma ihmjgmd,
encpbrhj tn 55% t`bt hxphet b jherhbsh. Mhbriy twgeh bs
cbmy (:6%) hxphet tn ush cnrh bithrmbtgvh oumjgmd bmj nmiy
22% ihss t`h ibrdhr t`h encpbmy, t`h eihbrhr t`h trhmj tn
jgvhrsgebtgnm, wgt` nvhr b qubrthr (64%) no rhspnmjhmts orncibrdh encpbmghs bisn pibmmgmd drhbthr ush no ebpgtbi cbrahts.
U@GOZ OVNC FBMA IHMJGMD ZN BIZHVMBZG_H OXMJGMD
Gmerhbsh Utby t`h sbch Jherhbsh
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8/10/2019 A&O Funding European Business Nov2014
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Un, w`bts t`h bithrmbtgvh>
www.biihmnvhry.enc
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8/10/2019 A&O Funding European Business Nov2014
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Tnuij b pbm-Hurnphbmprgvbth pibehchmt cbraht ii b oumjgmd dbp>
Vhspnmjhmts shh b eihbr mhhj onr cnrh bithrmbtgvh oumjgmd
snurehs gm Hurnph, wgt` 0
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8/10/2019 A&O Funding European Business Nov2014
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T`bt gs mhhjhj tn cbah bpbm-Hurnphbm cbraht vgbfih>
Vhspnmjhmts enmsgjhr ensts bmj prnehsshs tn fh obr cnrh
gcpnrtbmt onr b whii-oumetgnmgmd prgvbth pibehchmt cbraht,
t`bm rbtgmds, thmnr bmj jgseinsurh ruihs.
Z`h ihbjgmd enmehrm gs t`h trbmspbrhmey bmj prhjgetbfgigty
no ensts. Unch encchmtbtnrs `bvh suddhsthj t`bt drhbthr
furhbuerbey enuij cbah b Hurnphbm cbraht cnrhhxphmsgvh t`bm t`h X.U. prgvbth pibehchmt cbraht.
Z`gs gs oniinwhj fy t`h mhhj onr eihbr bmj prhjgetbfih prnehsshs,
jhmncgmbtgnm gm t`h gssuhrs nwm eurrhmey (b pbrtgeuibr enmehrm
bcnmd Frgtgs` rhspnmjhmts fut bisn rbmagmd `gd` onr snch no t`h
Hurnznmh rhspnmjhmts) bmj stbmjbrjgshj jneuchmtbtgnm.
@bio no rhspnmjhmts (:7%) ohhi t`bt `brcnmgsgmd t`h wgt``nijgmd
tbx rhdgch bernss Hurnph wnuij fh ahy, fut t`gs gs inw jnwm t`h
igst no prgnrgtghs onr Frgtgs` bmj Fhmhiux rhspnmjhmts.
Chjguc-sgzhj encpbmghs whrh cnrh enmehrmhj t`bt t`h cbraht
fh bvbgibfih tn fusgmhsshs no bii sgzhs, hihvbtgmd t`gs tn t`hgr
onurt`-rbmahj prgnrgty.
EIHBV ENUZU BMJ \VNEHUUHU ZN\ Z@H IGUZ
Ruhstgnm bsahj; \ihbsh thii ch nw gcpnrtbmt ynu enmsgjhr hbe` no t`h oniinwgmd tn fh gm nrjhr onr b pbm-Hurnphbm prgvbth pibehchmt cbraht tn fh bm bttrbetgvh
bmj vgbfih nptgnm onr fnt` fnrrnwhrs bmj gmvhstnrs>
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8/10/2019 A&O Funding European Business Nov2014
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8/10/2019 A&O Funding European Business Nov2014
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8/10/2019 A&O Funding European Business Nov2014
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Zwn-t`grjs no rhspnmjhmts (?4%) sby t`hy wbmt tn shh b pbm-
Hurnphbm prgvbth pibehchmt cbraht jhvhinp, rbt`hr t`bm b shrghs
no jnchstge cbrahts. Ibrdhr encpbmghs s`nw bm hvhm strnmdhr
prhohrhmeh, wgt` t`rhh-qubrthrs (48%) no mbmeh hxheutgvhs
sbygmd gt s`nuij fh pbm-Hurnphbm.
Z`bt prhohrhmeh gs bisn pbrtgeuibriy strnmd gm shetnrs igah thihencsbmj the`mnindy, hmhrdy bmj mbturbi rhsnurehs bmj gmorbstrueturh/
trbmspnrt, w`hrh prgvbth pibehchmts brh orhquhmtiy ushj gm
prnkhet mbmegmd. Kust 6 |Mnvhcfhr 6
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8/10/2019 A&O Funding European Business Nov2014
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Z`gs survhy bs fhhm enmjuethj usgmd thihp`nmh gmthrvghws wgt` 620 rhspnmjhmtsornc encpbmghs wgt` 8< nr cnrh hcpinyhhs, wgt` rhspnmjhmts spigt hvhmiyfhtwhhm chjguc bmj ibrdh hmthrprgshs bmj bernss bii cbknr encchregbi shetnrshxeiujgmd mbmegbi shrvgehs gm Dhrcbmy, Orbmeh, t`h XA, Upbgm, Gtbiy bmj Fhmhiux.
Vhspnmjhmts bii bvh sufstbmtgbi jhegsgnm cbagmd gmput nvhr t`hgr encpbmysoumjgmd brrbmdhchmts.
WnuDnv pie cbahs hvhry hoonrt tn prnvgjh rhprhshmtbtgvh gmonrcbtgnm. Bii rhsuitsbrh fbshj nm b sbcpih bmj brh t`hrhonrh sufkhet tn stbtgstgebi hrrnrs mnrcbiiybssnegbthj wgt` sbcpih-fbshj gmonrcbtgnm.
Oghijwnra wbs umjhrtbahm fhtwhhm 2? Uhpthcfhr 6
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8/10/2019 A&O Funding European Business Nov2014
20/20
Biihm & Nvhrychbms Biihm & Nvhry II\ bmj/nr gts boogigbthj umjhrtbagmds. Z`h thrcpbrtmhrgs ushj tn rhohr tn b chcfhr no Biihm & Nvhry II\ nr bm hcpinyhh
nr enmsuitbmt wgt` hqugvbihmt stbmjgmd bmj qubigogebtgnms nr bm gmjgvgjubi wgt` hqugvbihmt stbtus gm nmh no Biihm & Nvhry II\s boogigbthj umjhrtbagmds.
DINFBI \VHUHMEH
Biihm & Nvhry gs bm gmthrmbtgnmbi ihdbi prbetgeh wgt` bpprnxgcbthiy 8,