The ‘Growing Business – the Big Conversation’ campaign, was launched in November last year, and has seen top entrepreneurs and business owners from across the South West share their experiences, insights and advice.
This campaign has been led by Business Link, Solutions for Business and GWE Business West with funding from the European Regional Development Fund (ERDF).
In this, the concluding article, we focus on the advice which has been shared through the campaign’s numerous online channels – and discover the areas which South West firms believe are integral to the region’s return to prosperity.
Neil Higginson, ERDF project manager, said: “At the start of this campaign we talked about how only six percent of UK businesses are high growth firms – and how they create over half of the employment growth. What has become clear during this campaign is the drive and determination that businesses in the region have to become part of this vital six per cent.”
The campaign asked firms what their biggest obstacle to growth was. Many pinpointed that recruiting high quality, skilled staff was an issue, along with access to finance.
Timothy James Consulting, which was one of 12 South West firms to be given a place on the Sunday Times Fast Track 100 list last year, got involved with the campaign by filling in the online growth form. Peter Bennett, joint managing director, said: “The biggest threat to our growth strategy is not being able to recruit the right quality and quantity of consultants. Our success is down to the people who work for us.”
The Bath Priory hotel agrees, with general manager Sue Williams saying: “Recruitment has been our main obstacle to success. The industry as a whole has experienced a skills shortage and we are no exception.”
Stuart Baikie, managing director at business telecoms provider Total Ltd, said: “Funding growth has been tricky. Never having had outside investment we have to ensure everything we undertake is as considered and calculated as possible.”
Businesses are becoming more aware of their impact on the environment and the effect that this can have on both the public’s perception of them, and their bottom line. In November we focused on resource efficiency and ‘green’ thinking for two weeks. The topic created more online comments than any other including marketing, international trade and innovation.
Tim Frost from Glendale Products, an office screen manufacturer, tells us why: “On a day-to- day basis green means ‘do your best to use materials or energy in the most efficient way you can’. The cost of wasted materials comes straight off the bottom line, so less waste equals more profit.”
Innovation was also signposted as being key to growth, with many firms believing it needs to go hand in hand with international trade.
Peter Gradwell from IT firm Gradwell, said: “Recovery will be driven by exporting UK goods and services. The UK’s edge is in producing components that cannot be cheaply copied because of the design skill and innovation that goes into them.”
The campaign has gained a strong following online with hundreds of Twitter followers and dozens of blog posts and LinkedIn comments.
From all of these conversations one thing is clear; no matter what the set back, South West firms are determined to grow.
Rob Law, founder of children’s ride on suitcase, Trunki, said: “I’ve had failed licensing deals, factories go bust, a hand luggage ban at the height of terrorist threats, a potentially damaging appearance on BBC’s Dragons Den and the financial crisis breaking just as I began fundraising.”
Yet his innovative product is now sold in 62 countries worldwide and the firm has doubled turnover year on year, and is currently on target to hit £5,000,000 for its fifth financial year.
James Durie, Director of Initiative & Chamber of Bristol, said: “The Growing Business campaign has been a huge success.
“The outpouring of advice, tips, experiences and ideas which businesses have shared show not only the steely determination that firms in the region have to succeed, but also to help others around them prosper.
“We’d like to say a huge thank you to everyone who has been involved and also to the newspapers which have provided support to this initiative.”
The campaign will continue online – get involved by visiting www.businessi.info/thebigconversation or following us on Twitter @growthsouthwest
To find out more contact the Solutions for Business team on 0845 600 9966 email info@growthsouthwest.co.uk or visit www.growthsouthwest.co.uk.
The Solutions for Business programmes form part of this project which is part financed by the European Union’s ERDF Competitiveness and Employment Programme securing £4.5m of ERDF investment through the South West Regional Development Agency.
