Posted on 30/11/2015, 11:40
The recent Spending Review has been widely reported on as being silent with respect to entrepreneurs and small businesses (a problem itself).
However lying like an unexploded bomb in the detail was a 17% reduction in the budget of BIS. The direct result of this is the axing of the Business Growth Scheme (BGS). Many small businesses have benefited from the scheme, known to many as Growth Accelerator and the service’s own survey makes compelling reading for any business owner wanting to chart a hyper growth path (to view the full survey click here).
The Survey takes a look in detail at many of the companies that have benefited from business and coaching support and generated growth in excess of 100% (the definition of hyper growth). There are many elements discussed. Here are just a few to ponder on:
Whilst I regret the withdrawing of funding to help SMEs, my attitude was always that government support, whilst welcome, was only the start of the journey. One of the key findings in the report is that:
“Hyper Growth business leaders have a positive attitude to taking on board advice but they are careful about who they go to”.
Business coaches ranked highest on the trust spectrum for SME owners and the decision to wind down BGS hasn’t changed that!
What do you want to achieve in your business? Every owner manager had their reasons for why they started out on that journey – what are yours? And more importantly, are they still valid, are you on track, or are your hopes and desires being frustrated?Read More
It’s not only Hagrid’s three headed beast of Harry Potter fame that goes by the name Fluffy. Marketing has been “accused” of being ‘fluffy’ by which it is meant that it is not measurable, not accountable and it is unclear how it impacts the business.Read More
So you have your marketing plan sorted out (if not, see our previous blog in this series for some useful pointers). Now you just need to make it happen.Read More