The post-recession world is an exciting time to be an entrepreneur in UK. Deloitte identified the trends that shape this entrepreneurial world, including that entrepreneurs are ready to expand and invest, but lack the skills to exploit the emergence of overseas markets and the rise of digital technology.
The report was kindly provided to us by Deloitte. Read more: http://www.deloitte.com/view/en_GB/uk/market-insights/private-markets/who-we-help/private-companies-and-entrepreneurs/entrepreneurship-uk/index.htm
The World Bank tells us that for the last 40 years Jamaica’s average annual economic growth rate was 0.8%. Further the World Bank tells us that 0.8% growth places us as the worst performing economy among the over 150 countries globally. We are also advised from the Jamaica Productivity Centre, over in the Ministry of Labour, that the productivity of our firms, over the same period , has steadily declined. These two phenomena are intimately connected. Fix productivity and we fix competitiveness and growth. This paper explores this topic.
How to fund your documentary like a startupBjarke Calvin
It's difficult to fund independent documentaries, especially if they are online, interactive and playing with new formats. But another way to approach it is to think like a startup, and consider investors, new business models etc. This is a presentation I did at iDocs in 2015.
The World Bank tells us that for the last 40 years Jamaica’s average annual economic growth rate was 0.8%. Further the World Bank tells us that 0.8% growth places us as the worst performing economy among the over 150 countries globally. We are also advised from the Jamaica Productivity Centre, over in the Ministry of Labour, that the productivity of our firms, over the same period , has steadily declined. These two phenomena are intimately connected. Fix productivity and we fix competitiveness and growth. This paper explores this topic.
How to fund your documentary like a startupBjarke Calvin
It's difficult to fund independent documentaries, especially if they are online, interactive and playing with new formats. But another way to approach it is to think like a startup, and consider investors, new business models etc. This is a presentation I did at iDocs in 2015.
Brief:
Sherry Coutu CBE is arguably one of the world’s most influential and best-networked people in technology and investing. Among many prestigious titles, Sherry is a Non-Executive Director of proptech giant Zoopla, London Stock Exchange and The University of Cambridge. She also serves on the Advisory Board of Linkedin.com, which was bought by Microsoft last June for $26.2bn.
After authoring The Scale-up Report, a report urging the government to help ambitious businesses scale to their full potential, she teamed up with LinkedIn Co-founder Reid Hoffman to set up and chair the ScaleUp Institute, an organisation set out to make Britain the number one destination for businesses to grow and scale. If Sherry’s vision is realised, Britain could add 150,000 jobs to the economy and £225bn to its GDP.
Most interestingly for investors, fast-growing scale-ups (like Zoopla or LinkedIn were a few years ago) make for very profitable investment opportunities.
Sherry will talk about the importance of scale-ups in Britain’s economy and how to access them as investment opportunities.
There is a powerful change under way in how innovation happens. This new approach is transforming how intellectual capital connects with financial capital, knocking down ivory towers along the way. Thanks to the globalisation and Googalisation of the world economy, clever ideas from every corner of the world now have the chance to be taken seriously—even if they come from people without fancy credentials. Governments, charities and corporations alike are increasingly turning to open and networked models of innovation, such as the use of incentive prizes, to solve difficult problems.
In future, the difference between success and failure will often be determined not by lack of access to capital, markets, talent, or other conventional obstacles. In the age
of disruptive innovation, resourcefulness will matter more than resources—and success or failure will be determined inside the mind of the innovator.
Are you ready for the revolution?
Kevin Lynch on Innovation at IPAC Annual Conference August 20 2012Shahab Khan
“THE NEW GLOBAL REALITY: YOU WANT TO BE
COMPETITIVE, YOU BETTER BE INNOVATIVE!”
by
The Honourable Kevin G. Lynch
Vice-Chair, BMO Financial Group
to
Institute of Public Administration of Canada
L'Institut d'administration publique du Canada
64th Annual Conference
St. John’s Newfoundland
August 20, 2012
The key of the transformation process is HR, we have to pay more attention in this department because can be crucial in the digital transformation of our companies.
DC10 Jaspar Roos - management of services innovation - creating value through...Jaak Vlasveld
Jaspar Roos from ABN Dialogues House presented at the Management of services innovation session at the Service Innovation Congres 2010 (DC10) in Almere, the Netherlands.
The year 2050: a future-back perspective for edu institutes (sep 2020)Tommaso Di Bartolo
Tommaso Di Bartolo presents in this Keynote, how the EDU industry is being disrupted by next-gen players - and how institutes should apply corporate innovation to make the curve.
Serial Entrepreneur and Startup Investor, Author, Advisor, and Faculty at the University of California Berkeley, Tommaso has built four tech startups from scratch and has two exits under his belt.
www.TommasoDiBartolo.com
The output of a roundtable with 40 European, US and Chinese Corporate innovation leaders and practitioners. The roundtable was held in early May, 2019 in London
The Hays Journal is a bi-annual publication providing global insight and news for HR, recruitment professionals and hiring managers on the ever-changing world of work. Now in its 16th Issue, the Journal analyses current topics including AI and productivity, diversity, wellbeing and more with expert insight from leading organisations including Twitter, IBM, Citi and PwC: https://www.hays-journal.com
Presentation on ‘Open Innovation – a Critical Component of Innovation Ecosystem’, Dr. Makarand Phadke, Chairman, FICCI National Committee on S&T and Innovation & Sr. VP – Innovations, Reliance Industries Ltd.
On the 18th of November, I was asked to speak at Canada House for Informatics Ventures.
The audience was 120 investors and 20 entrepreneurs who were seeking finance.
I spoke about the importance of scaling to long-term success of any high growth company
I spoke about why is it important - for them, their families, their communities and for the competitive advantage of the UK (or whatever country they chose to operate from).
I gave examples from portfolio of investments that have done this successfully?
Zoople, Artfinder, Duedil, Moveguides, Lovefilm and founders4Schools
I spoke about the pitfalls to avoid
I spoke about what the crucial leaps any company must make in order to achieve scale?
China used to be an innovation absorber, simply copying ideas from elsewhere to roll out to local and foreign markets. Today, Chinese firms are recognised as innovators on the world stage. The most successful Chinese entrepreneurs have bolstered their innovative capabilities by collaborating with and acquiring international firms.
China’s president, Xi Jinping, wants to turn China into an innovation-driven economy by 2020. But can government-mandated innovation in a complex, partially closed economy save China’s growth prospects? Can China become an innovation powerhouse?
The Innovation Summit 2016 will bring together C-suite executives, entrepreneurs and critical thinkers from China and the surrounding region to discuss what lessons the world’s great innovators can offer China, and what ideas and insights it can share in return.
Visit the event website: innovation2016.economist.com
Join the online discussion with #EconInnov
Pandza On Knowlege & Innovation - January 2008InterlubGroup
The group of 16 students have visited the Tecnológico de Monterrey Campus Guadalajara in the early January in order to learn about Mexican history, culture and businesses. This is the last session. The topic of this course is Knowledge and Innovation in Mexico. After a brief introduction to the current changes that are occuring and discussion of the key abilities that future leaders need to develop (i.e. learning, analysis, search, flexibility, couriosity, foreign language skills, etc.) the instructor discusses innovation from different perspectives. He takes a look at innovation from the categorization of innovations, over to the different types of innovation. The session closes with an analysis of the case study about Cemex (Patrimonio Hoy) that highlights how Cemex has strengthened it´s competitive positon by integrating it´s expertise in the industry, as well as the mexican culture. This thorough analysis at the intersection of ideas lead to the successful development of a community house building program that revolutionsizes the industry.
If you want a copy of my presentation, please send me an e-mail to pandza@itesm.mx.
Brief:
Sherry Coutu CBE is arguably one of the world’s most influential and best-networked people in technology and investing. Among many prestigious titles, Sherry is a Non-Executive Director of proptech giant Zoopla, London Stock Exchange and The University of Cambridge. She also serves on the Advisory Board of Linkedin.com, which was bought by Microsoft last June for $26.2bn.
After authoring The Scale-up Report, a report urging the government to help ambitious businesses scale to their full potential, she teamed up with LinkedIn Co-founder Reid Hoffman to set up and chair the ScaleUp Institute, an organisation set out to make Britain the number one destination for businesses to grow and scale. If Sherry’s vision is realised, Britain could add 150,000 jobs to the economy and £225bn to its GDP.
Most interestingly for investors, fast-growing scale-ups (like Zoopla or LinkedIn were a few years ago) make for very profitable investment opportunities.
Sherry will talk about the importance of scale-ups in Britain’s economy and how to access them as investment opportunities.
There is a powerful change under way in how innovation happens. This new approach is transforming how intellectual capital connects with financial capital, knocking down ivory towers along the way. Thanks to the globalisation and Googalisation of the world economy, clever ideas from every corner of the world now have the chance to be taken seriously—even if they come from people without fancy credentials. Governments, charities and corporations alike are increasingly turning to open and networked models of innovation, such as the use of incentive prizes, to solve difficult problems.
In future, the difference between success and failure will often be determined not by lack of access to capital, markets, talent, or other conventional obstacles. In the age
of disruptive innovation, resourcefulness will matter more than resources—and success or failure will be determined inside the mind of the innovator.
Are you ready for the revolution?
Kevin Lynch on Innovation at IPAC Annual Conference August 20 2012Shahab Khan
“THE NEW GLOBAL REALITY: YOU WANT TO BE
COMPETITIVE, YOU BETTER BE INNOVATIVE!”
by
The Honourable Kevin G. Lynch
Vice-Chair, BMO Financial Group
to
Institute of Public Administration of Canada
L'Institut d'administration publique du Canada
64th Annual Conference
St. John’s Newfoundland
August 20, 2012
The key of the transformation process is HR, we have to pay more attention in this department because can be crucial in the digital transformation of our companies.
DC10 Jaspar Roos - management of services innovation - creating value through...Jaak Vlasveld
Jaspar Roos from ABN Dialogues House presented at the Management of services innovation session at the Service Innovation Congres 2010 (DC10) in Almere, the Netherlands.
The year 2050: a future-back perspective for edu institutes (sep 2020)Tommaso Di Bartolo
Tommaso Di Bartolo presents in this Keynote, how the EDU industry is being disrupted by next-gen players - and how institutes should apply corporate innovation to make the curve.
Serial Entrepreneur and Startup Investor, Author, Advisor, and Faculty at the University of California Berkeley, Tommaso has built four tech startups from scratch and has two exits under his belt.
www.TommasoDiBartolo.com
The output of a roundtable with 40 European, US and Chinese Corporate innovation leaders and practitioners. The roundtable was held in early May, 2019 in London
The Hays Journal is a bi-annual publication providing global insight and news for HR, recruitment professionals and hiring managers on the ever-changing world of work. Now in its 16th Issue, the Journal analyses current topics including AI and productivity, diversity, wellbeing and more with expert insight from leading organisations including Twitter, IBM, Citi and PwC: https://www.hays-journal.com
Presentation on ‘Open Innovation – a Critical Component of Innovation Ecosystem’, Dr. Makarand Phadke, Chairman, FICCI National Committee on S&T and Innovation & Sr. VP – Innovations, Reliance Industries Ltd.
On the 18th of November, I was asked to speak at Canada House for Informatics Ventures.
The audience was 120 investors and 20 entrepreneurs who were seeking finance.
I spoke about the importance of scaling to long-term success of any high growth company
I spoke about why is it important - for them, their families, their communities and for the competitive advantage of the UK (or whatever country they chose to operate from).
I gave examples from portfolio of investments that have done this successfully?
Zoople, Artfinder, Duedil, Moveguides, Lovefilm and founders4Schools
I spoke about the pitfalls to avoid
I spoke about what the crucial leaps any company must make in order to achieve scale?
China used to be an innovation absorber, simply copying ideas from elsewhere to roll out to local and foreign markets. Today, Chinese firms are recognised as innovators on the world stage. The most successful Chinese entrepreneurs have bolstered their innovative capabilities by collaborating with and acquiring international firms.
China’s president, Xi Jinping, wants to turn China into an innovation-driven economy by 2020. But can government-mandated innovation in a complex, partially closed economy save China’s growth prospects? Can China become an innovation powerhouse?
The Innovation Summit 2016 will bring together C-suite executives, entrepreneurs and critical thinkers from China and the surrounding region to discuss what lessons the world’s great innovators can offer China, and what ideas and insights it can share in return.
Visit the event website: innovation2016.economist.com
Join the online discussion with #EconInnov
Pandza On Knowlege & Innovation - January 2008InterlubGroup
The group of 16 students have visited the Tecnológico de Monterrey Campus Guadalajara in the early January in order to learn about Mexican history, culture and businesses. This is the last session. The topic of this course is Knowledge and Innovation in Mexico. After a brief introduction to the current changes that are occuring and discussion of the key abilities that future leaders need to develop (i.e. learning, analysis, search, flexibility, couriosity, foreign language skills, etc.) the instructor discusses innovation from different perspectives. He takes a look at innovation from the categorization of innovations, over to the different types of innovation. The session closes with an analysis of the case study about Cemex (Patrimonio Hoy) that highlights how Cemex has strengthened it´s competitive positon by integrating it´s expertise in the industry, as well as the mexican culture. This thorough analysis at the intersection of ideas lead to the successful development of a community house building program that revolutionsizes the industry.
If you want a copy of my presentation, please send me an e-mail to pandza@itesm.mx.
Emerging Markets Decoded: the Four Domains of Development for GrowthAndrey Shapenko
The report highlights the complexity of the phenomenon of the emerging markets and analyses separately three groups of them: advanced, intermediary and early stage. Further economic growth is imperative for all three groups, as the solid basis for the social development. The report outlines four areas of development for growth: infrastructure, digital technology, sustainability and human capital. These areas represent huge business potential for both international and local players with the total volume of opportunity being close to USD 10 trillion by 2020.
Directors at Public Interest Registry, Lauren Price & Ulrich Retzlaff give us a general overview of the changing domain name industry and how you can benefit.
Management in a Cloud Centric World – The NEW Business ParadigmResellerClub
Management in a Cloud Centric World – The NEW Business Paradigm
Did you know that 90% of mobile users keep their device within arm’s reach, 100% of the time. Come and learn how Cloud is delivering on its promise to be a game-changing and disruptive enabler of business value. This session will talk about customer examples of business transformation leveraging cloud centric technologies and how you can get started today !! We will also focus on some of the systems management capabilities required in such a cloud centric world.
Manish Aggarwal
Cloud Strategy Manager
IBM
The global financial crisis has brought into sharper focus the long-term shift in economic power towards the developing world. Global consumer product companies are embracing this underlying trend and the mantra of reaching the next one billion customers in emerging markets.
To help companies turn their ambitions into reality, we've conducted a research project to understand the differences in shopping behaviour around the world. The research also highlights some of the issues western consumer product companies and grocers should consider, before launching in developing markets.
Study:
The study consisted of 5,375 consumers in the UK, US, Brazil, China, India and Nigeria. All questions were asked through a survey taken via the mobile Internet and we used our own panel of respondents.
Key considerations for developing markets:
In developing markets people are more inclined to use public transport or walk, therefore smaller sized products and low cost basket sizes will have more appeal.
Local brands and stores should not be underestimated - shopkeepers are the gatekeepers and even the best conceived consumer strategies need their support to succeed.
Setting up shop in close proximity to where people live is a critical success factor, as is having access to a local distribution network. To give the data a human perspective we also asked respondents to take a picture on their mobile of their main grocery store, the transportation they use to get to the store and their grocery shopping.
The images provide a stark contrast in lifestyles around the world.
Community Management vs Social Media Management - Whats The Difference? Dan Spicer
RECORDED SESSION LINK: https://www.youtube.com/watch?v=LALQ0_FPAWg
The 'Social Media Manager' and the 'Community Manager' are distinct positions within an organisation, titles which are often used interchangeably with no real understanding to the individual roles and responsibilities of each. Yes there are over-lapping duties however it is a common misconception that there are more similarities than there are differences.
In this Social Media Week session we will look to uncover and explain these differences - what does community infer as opposed to social media, how does this relate to your respective audiences, how do these align with your business objectives and what the tools available in ones armoury to drive towards these objectives. Social strategy, content production and distribution, customer engagement, community development, analytics and ROI - who is best suited to deliver these?
During the hour we'll take a look at:
- A brief history of the community manager and social media manager
- The responsibilities of each role
- The different types of business outcomes
- What to look for when hiring
Online communities have taken hold among businesses, to connect employees, customers and partners. However, community management as a profession is largely misunderstood and inadequately resourced. We created this book to raise the literacy level among businesses on what community managers actually do, and for community managers to have a trusted guide in their daily jobs. This guide addresses at a high level the strategy, design and everyday execution of a successful and healthy community.
Authors: Maria Ogneva, Matt Jensen, Molly Bugler
Community management goes way beyond customer service and crisis management. Making human connections is absolutely crucial to the success of your business. There is no avoiding it.
All the data has citations and sources, so you can show this to your boss, your coworkers, your clients, or anybody who needs to learn the value of community management!
Transitions are a critical time for leaders at all levels. Missteps made during the crucial first three months in a new role can jeopardize your success.
In this updated and expanded version of the international bestseller, Michael D. Watkins offers proven strategies for conquering the challenges of taking on a new role — no matter where you are in your career. Watkins, a noted expert on leadership transitions, also addresses today’s increasingly demanding professional landscape, where managers face more frequent changes and steeper expectations when they start their new jobs.
Whether you’re starting a new job, being promoted from within, or embarking on an overseas assignment, this is the guide you’ll need to succeed in your first 90 days — and beyond.
Over the years we’ve noticed that even amazingly creative and unique companies can struggle with getting ideas off the ground.
Whether it’s a simple fix to an organisational chart, or a bit of nudging in the right direction to help a company to launch a product idea with an impactful return on investment (ROI). Making improvements can turn a new product dream into a reality, and we know the value in having an extra set of eyes (and hands) to help with a company’s innovation efforts.
That’s why we put together this informational guide - to share some of our experiences and help even more teams and companies to leverage their inner talents and unlock their
innovation potential.
In this guide, we’ll share some of our best tips and tricks, including how to:
> Recognise trends and how customer preferences change;
> Focus on your company strengths in order to get the most out of innovation;
> Identify and remove common obstacles to innovation;
> Build levels of innovation that come naturally and are sustained - through the innovation value pyramid; and,
> Use practical exercises to future-proof your innovation efforts.
Who this book is for
Every business needs innovation. It’s commonly associated with it’s long-term success.1 It helps a business to solve problems, save precious time and money, and set it apart from the competition so it can grow faster.
Every employee within a company can contribute to innovation, too. Whether you’re the boss of an energetic startup company, an aspiring leader or an employee at an organisation, you’ll be able to use this guide to help build innovation in your professional scenario.
We’ll use examples of all sorts of different types of businesses: from software companies, construction firms, tech businesses to self-employed consultants. Even if your unique business model is not specifically discussed, you’ll be able to apply the methods without issue.
Innovolo is an active supporter of the idea that innovation is important (dare we say - essential) for any business to thrive.
If you’re interested in knowing why (and how to do it yourself), then read on!
Bradley Pallister
Webloyalty sponsors Digital Retail Innovation ReportWebloyalty UK
The Digital Retail Innovation Report was produced by Retail Insider and sponsored by Webloyalty. Looking at which companies are changing the face of retail, the report reveals exciting propositions for retailers and consumers to keep an eye on.
You can see the videos discussing the report here: https://www.youtube.com/watch?v=gMOD9Fd7cBc&list=PLyPluztjm-CCi7XyyQMLH4zHyy3rKrUv5
Export For Growth guide from Miller Rosenfalck & UKTIStuart Miller
This guide outlines the point you need to consider before venturing into international business. And it tells you where to go for help and guidance. As we are a law firm, it is perhaps no surprise that we urge all exporters to seek proper legal advice. But exporting does not usually start with legal issues – rather, with an opportunity! And then with research such as this.
How large corporates improve the way they innovateCapgemini
Mick Liubinskas is Entrepreneur in residence at muru-D – a startup accelerator backed
by Telstra, Australia’s leading telecommunications and technology company. Mick
has a successful track record of startup creation. He was the co-Founder & Director
of Pollenizer, Australia’s first digital incubator, and was a co-founder of Startmate. At
muru-D, he is responsible for attracting and selecting high-potential technology startups
and then working with them to drive significant, global, long-term success. After many
years in Australia, Mick recently moved to Silicon Valley.
We spoke to him to understand how large corporates can improve the
way they innovate. Mick explains why entrepreneurs need to lead innovation initiatives at big corporates.
He also highlights the importance of proximity to tech hubs: “Innovation and entrepreneurship are about the 10,000 tiny discussions that are greatly helped
by proximity.”
An interview with Mick Liubinskas, entrepreneur-in-residence at muru-D, on the nature of innovation in large companies and how to build a culture of innovation.
Kuwait Petroleum Corporation: Transforming leadership for 2030 and beyondLondon Business School
This case study explores the custom programme developed by London Business School for the Kuwait Petroleum Corporation in conjunction with the National Technology Enterprises Company Kuwait. The study examines the scale and accomplishments of the programme, as well as the unique tripartite collaboration between the three key stakeholders that delivered its success.
Together, Microsoft and London Business School created The Public Sector Course: a customised programme, tailoring a Massive Open Online Course (MOOC) model for Microsoft’s public sellers specifically. The programme aims to empower participants to build trust and credibility with customers.
Learn more about our customised programmes: https://www.london.edu/programmes/executive-education/topic/executive-education-for-organisations/custom-programmes
Insight Summit 2017: Intelligent Risk Taking - Active vs passive investing
Active vs. passive – practitioner perspectives - Tim Hodgson, Head of the Thinking Ahead Institute, Willis Towers Watson
Presented at the third annual Insight Summit conference held on 7 November 2017 by London Business School’s AQR Asset Management Institute.
Insight Summit 2017: Intelligent Risk Taking
Portfolio construction today - Cliff Asness, Managing & Founding Principal, AQR Capital Management
Presented at the third annual Insight Summit conference held on 7 November 2017 by London Business School’s AQR Asset Management Institute.
Insight Summit 2017: Intelligent Risk Taking – Private Equity
Partners Capital View of the Future of Private Equity Investing
Stan Miranda, Founder and CEO, Partners Capital Investment Group
Presented at the third annual Insight Summit conference held on 7 November 2017 by London Business School’s AQR Asset Management Institute.
Insight Summit 2017: Intelligent Risk Taking - Active vs passive investing
Risk taking the ATP way - Kasper Lorenzen, Chief Investment Officer, ATP
Presented at the third annual Insight Summit conference held on 7 November 2017 by London Business School’s AQR Asset Management Institute.
Insight Summit 2017: Intelligent Risk Taking - Active vs passive investing
Is factor investing a bubble? - René M. Stulz, Everett D. Reese Chair of Banking and Monetary Economics, Ohio State University
Presented at the third annual Insight Summit conference held on 7 November 2017 by London Business School’s AQR Asset Management Institute.
Insight Summit 2017: Intelligent Risk Taking - Active vs passive investing
Sharpening the Arithmetic of Active Management - Lasse Pedersen, Professor of Finance, Copenhagen Business School and NYU; and Principal, AQR Capital Management
Presented at the third annual Insight Summit conference held on 7 November 2017 by London Business School’s AQR Asset Management Institute.
Insight Summit 2017: Intelligent Risk Taking - Active vs passive investing
Money management in equilibrium - Jonathan Berk, A.P. Giannini Professor of Finance, Graduate School of Business, Stanford University
Presented at the third annual Insight Summit conference held on 7 November 2017 by London Business School’s AQR Asset Management Institute.
The ten commandments of business innovation | London Business SchoolLondon Business School
From his new book Breaking Bad Habits, LBS's Freek Vermeulen explores the ten commandments your business must follow to reinvigorate your organisation.
http://www.freekvermeulen.com/
Find out how Smurfit Kappa partnered with London Business School to design two precisely calibrated learning journeys that transformed participants from two distinct strands of leadership.
Systemic Risk in the Asset Management Industry - Michael Mendelson, Principal, AQR Capital Management
Presented at the AQR Asset Management Institute conference, Perspectives: Systemic Risk in Asset Management held on 26 April 2017 at London Business School.
Myths and Realities of ETFs and Index Investing - Ananth Madhavan, Managing Director, Global Head of Research for ETF and Index Investing, BlackRock
Presented at the AQR Asset Management Institute conference, Perspectives: Systemic Risk in Asset Management held on 26 April 2017 at London Business School.
Presented at the AQR Asset Management Institute conference, Perspectives: Systemic Risk in Asset Management held on 26 April 2017 at London Business School.
Together with London Business School (LBS), Nordea created the Strategic Leadership Programme to empower its next-generation leaders to: think strategically about the future and about customers; align functions and strategies to the overarching Nordea Future Relationship Bank Strategy; and build trust across the whole business.
Learn more about our customised programmes: http://bit.ly/2mzsMM5
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
Safalta Digital marketing institute in Noida, provide complete applications that encompass a huge range of virtual advertising and marketing additives, which includes search engine optimization, virtual communication advertising, pay-per-click on marketing, content material advertising, internet analytics, and greater. These university courses are designed for students who possess a comprehensive understanding of virtual marketing strategies and attributes.Safalta Digital Marketing Institute in Noida is a first choice for young individuals or students who are looking to start their careers in the field of digital advertising. The institute gives specialized courses designed and certification.
for beginners, providing thorough training in areas such as SEO, digital communication marketing, and PPC training in Noida. After finishing the program, students receive the certifications recognised by top different universitie, setting a strong foundation for a successful career in digital marketing.
Normal Labour/ Stages of Labour/ Mechanism of LabourWasim Ak
Normal labor is also termed spontaneous labor, defined as the natural physiological process through which the fetus, placenta, and membranes are expelled from the uterus through the birth canal at term (37 to 42 weeks
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
2. 1
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
There is a point in each economic cycle where
momentum shifts direction, either up or down. It only
happens once or twice a decade and can be a barely
noticeable flickering of the compass needle, but it
signals an epochal shift in direction and attitudes.
Fortunes are won, global brands created, and the world
changed on the flicker of that needle.
More recently, the Deloitte Social Innovation Pioneers
programme has seen us invest over £1m a year in 16
socially innovative businesses. In just the first year, our
pioneer cohort reported an average growth in turnover
of 45% and 83% have increased employment within
their organisations, equating to 80 full-time and 41
part-time roles.
In this year’s survey 429 of the UK’s entrepreneurs told
us that, for them, the tide has turned. No longer are they
playing the survival game, hoarding whatever cash they
can, and waiting for the good times to return. Finally, they
are riding the wave of good performance and promising
outlook.
It shows just what can be done with the right advice, the
right investment, and the right businesses. What is more it
shows what can be done in a short space of time. There is
a role for the Government to provide meaningful support
to businesses on exporting and financing growth, and to
do so without operating on HS2 timeframes.
This is an exciting time to be an entrepreneur in the UK,
but it is also a challenging one. Now that survival is not the
only game to play, which game do you play? Our survey
indicated that entrepreneurs are ready to expand and
invest, but they lack the skills to fully exploit the two trends
which are defining our time: the emergence of overseas
markets and the rise of digital technology.
The message to the UK’s entrepreneurs is clear. The time
has come to think about growth and investment, and to
ensure you have the skills within your organisation to take
advantage of new markets and technologies. Yet at the
same time it is vital to keep control of the purse strings.
Don’t over-engineer growth solutions. Test products
quickly, try low cost solutions to new markets, take the
time to re-build relationships with debt providers as you
may still need them, and more than anything else define
your strategy, and have faith in it.
At Deloitte we have been helping to close this
entrepreneurial skills gap, not only through the work we do
day in, day out, up and down the country with our clients,
but also with the introduction of our Growth Generator
Programme designed to support entrepreneurs and
private companies on key themes, such as funding
for growth, collaborating to win in new markets, the
impact of digital Britain and doing the right deal in M&A.
Further investment in entrepreneurship is demonstrated
with London Business School and the development of
The Deloitte Institute of Innovation &
Entrepreneurship. Alongside an unrivalled programme of
education and research, the institute has helped incubate
many of the UK’s most successful enterprises.
We hope that you enjoy reading our findings on how we
believe entrepreneurs are entering not only a new time
for growth, but a brave new world in a changing business
landscape.
Mark Doleman
Head of Entrepreneurial Business UK, Deloitte – Private Markets
3. 2
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
Expert viewpoint
4. 3
Entrepreneurship UK 2013/14
Entering a brave new world
Theo Paphitis
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Probably best-known for his eight years on Dragons’ Den, Theo Paphitis is one of the
UK’s most successful entrepreneurs. Beginning his working life as assistant to the tea boy
he set up his own company aged just 23 with a Lloyds of London broker. As Chairman
of Millwall FC for eight years, he took the club out of administration and also revived
the fortunes of notable retail brands such as La Senza Lingerie (UK), Contessa Lingerie,
Ryman, Partners the Stationers, Stationery Box and most recently Robert Dyas. In Spring
2011, Paphitis launched lingerie brand, Boux Avenue.
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
It is about time the UK’s entrepreneurs started being
more optimistic. The bottom of the market took place a
full 12 months ago, and that is when I invested a lot of
money. Since then we have seen many companies grow
at any impressive rate, and in the 12 months ahead I
expect this trend to accelerate further.
We now operate in one of the most competitive tax
regimes in the world. There might still be too much
bureaucracy but when have entrepreneurs not suffered
from too much bureaucracy? I believe that what really
holds many entrepreneurs from growing as fast as they
could is their reluctance to make acquisitions. Some
may not have managed a larger business previously or
they lack access to finance so they stick within their
comfort zone.
Another limiting factor is a failure to engage with
technology. Anyone who believes that digital
technology is not relevant or useful to their business
is wrong, and their businesses will wither and fail.
Technology is the single most important thing that is
shaping business. We are witnessing the transformative
equivalent of the Industrial Revolution every two
years! This is changing the way we live our lives and it
is changing the products and services we need. Who
would have predicted the rise of Amazon or Google,
and which company is next?
The mounting importance of overseas is the other
major factor affecting the way we do business in the
UK. China might be growing at 8% a year but it’s a
long way away with a different language and business
ethos, so I would advise UK entrepreneurs to look
closer to home. You’re never going to crack China on a
£2k grant from UKTI. Instead, consider the role the UK
has played in rebuilding the Middle East in the past two
decades and think what need might there be for your
products in that fast-growing region.
5. 4
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
All of this matters, but what matters in business more
than anything else is passion. I could bore you for hours
talking about the businesses I run, and I think the mark
of every successful entrepreneur is that they put in
that legwork. They understand the competition; they
know their product and their market inside out; they
are completely immersed in the business. For anyone
who has that passion, who is open to technology and
the changing world economy, and who gets the right
advice, there has never been a better time to be an
entrepreneur.
Theo is a passionate champion of small
businesses. He instigated Small Business Sunday
on Twitter, shortened to the hashtag #SBS.
Each week, from 5:00pm to 7:30pm, business
owners are invited to tweet @TheoPaphitis,
and include the hashtag #SBS. The best six
tweets are re-tweeted every Monday evening
at 8.00pm to Theo’s following of over 380,000
people. They are also profiled on a dedicated
website www.theopaphitissbs.com
6. 5
Entrepreneurship UK 2013/14
Entering a brave new world
Sherry Coutu
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
Earlier in 2013 Sherry Coutu was awarded a CBE for ‘Services to Entrepreneurship’.
This was the latest in a series of accolades for the former CEO of Interactive Investor
who is now one of the most active angel investors in the UK. In November, TechCrunch
ranked her as the best CEO mentor/advisor. In May 2011, she was voted by Wired
magazine as one of the top ten most influential investors and women.
With a strong focus on the technology sector she has recently invested in educational
charity Raspberry Pi and fertility company Duofertility, but she has decades of experience
serving companies which range from fast-growth private early stage to public and boards
with turnover of more than £ 1bn. In fact, she can proudly claim to have made 45 angel
investments in companies now employing up to 9,000 people in 20 countries with a
combined turnover of £1.5 billion.
All entrepreneurs are optimistic – necessarily so – but
it is statistically unlikely that 64% of them will grow by
more than 10% next year. The reality is that a smaller
number will grow by much more than that, some by
as much as 1000%. We recently surveyed the top tech
firms in Cambridge. We found that the top 50 of 1500
grew revenues by 23% – that is more realistic model for
future growth.
I am an advocate of organic growth. Mergers and
acquisitions have high failure rates with only one in
five creating value, so in most cases I advocate focusing
on safer organic growth. For example I’m on the
board of LinkedIn where almost all growth is organic
because customers get such great value. The problem
for LinkedIn is that we can barely answer the phones
fast enough. We need to recruit to keep up with the
demand.
Indeed in the UK the greatest challenge we face is
scaling up. Proportional to population we have the
same number of start-ups each year as the US, but
only half the number of companies in the UK that
achieve any scale. That should give pause for thought
to anyone who has an interest in UK entrepreneurial
success. I believe we have a great tax regime in this
country. EIS and Seed EIS have been brilliant. In fact
I know entrepreneurs who could operate anywhere in
the world but choose to operate here.
7. 6
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
So, if I could ask the Government to do one thing
to help entrepreneurs it would not be to cut taxes;
it would be to make it easier for us to hire skilled
overseas workers and bring them to work in the UK.
So many businesses face the choice of trying to bring
a key person to the UK and it taking nine months
and £50,000 or locating them somewhere like Zurich
where they can work immediately. Guess which choice
most take? That has negative implications for the
UK’s economy and for the businesses that have skilled
workers located in the wrong places around the world.
Overall, though, I believe there are great opportunities
for companies to achieve growth. The question of
course is which companies will do so? After all 40%
of today’s economy is powered by companies that did
not exist 15 years ago. The UK economy is not yet out
of the woods and there will be setbacks ahead, but
I firmly believe that in certain markets there are real
opportunities to disrupt the status quo and provide
added value. The challenge remains to find and then
exploit those opportunities.
8. 7
Entrepreneurship UK 2013/14
Entering a brave new world
Keith Willey
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
Keith is Adjunct Associate Professor of Strategy and Entrepreneurship at London
Business School (LBS) and formerly Executive Director of the School’s Foundation
for Entrepreneurial Management. His work at London Business School focuses on
entrepreneurship, venture capital, managing growth, technology ventures, strategy and
organisation development. Keith’s main activity outside LBS is helping entrepreneurs to
build, buy and sell ventures.
It seemed like recovery would never come – indeed
some commentators said we’d have to wait much
longer. Our featured entrepreneurs have put their fingers
on the imperative for everyone to recognise this turning
point and grasp the opportunities now presented to
entrepreneurs. To this I would add the recommendation
to ensure that lessons have been learned from the past
5-6 years. Hopefully you are experiencing rapid growth
now, preferably in double digits, high double digits.
If you are not then perhaps the rising tide will not lift
your boat by much at all. To put it another way, this
time around you will still have to work hard for growth
because more than likely your markets and industry have
moved on substantially since the last cycle. Have you
taken this new breathing space to review whether you’ve
really got a potential success on your hands?
Take newspapers for example – everyone knows that
they were hit hard by the recent drop in advertising
spend but the transition from print to digital
consumption means those revenues are not coming
back. The rule of thumb there will be to divide the
old print revenue figure by 100 and then see if you
can still run a profitable online business. We’ve all
seen the impact of recession on the high street, again
exacerbated by the move to online shopping even for
categories such as furniture which will retain bricks
and mortar operations. So the hard question for many
businesses is whether in these improving economic
conditions they really have a competitive or up to date
offering or even better – is it innovative?
9. 8
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
As the recession took hold London Business School
established the Deloitte Institute for Innovation and
Entrepreneurship to develop and share knowledge for
successful business growth. Of course Entrepreneurship
and Innovation are two different topics both of which
are being advanced by the Institute, but the most
interesting businesses are ones where these two topics
collide. At that nexus we see businesses that create
new markets, new industries or radically disrupt old
ones. As well as undertaking research, the Institute
funds new business incubation and is spawning some
exciting new businesses. Most of these are bringing a
fresh twist to well-established sectors, taking advantage
of the sluggish incumbents, but others really are doing
something revolutionary in their sector.
It’s remarkable to see a new venture start with a blank
sheet of paper and perhaps this moment of reflection
and creativity is the essence of what established
businesses need to recreate when forming their own
growth plans. Congratulations! You made it through the
bad times – now you need to consider how you’re going
to thrive in the good times.
10. 9
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
Executive summary
11. 10
Entrepreneurship UK 2013/14
Entering a brave new world
Greater optimism replaces gloomy outlook
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
Six years ago when we introduced our Entrepreneurship UK survey the UK economy had
just fallen overboard. The world’s financial markets were floundering, the housing market
was sinking fast, and it was the beginning of the longest and deepest recession since
the Second World War. Today the world is a very different place. The UK economy has
climbed out of the murky waters of recession, has changed the ship’s captain and crew,
and is now shaking itself off and looking to the bright, sunlit shores ahead.
During those six years we have seen the attitudes and
concerns of entrepreneurs shift markedly. Throughout,
they have been resilient in the face of adversity.
This year’s results tell us that they are now more
optimistic than they have been for several years.
They are starting to get their mojo back and, perhaps
for the first time since we began the survey, there is
some excitement about the future.
Many of them have enjoyed a good 12 months with
83% growing turnover, and a particularly impressive
14% adding more than half to their turnover. What is
more, almost twice as many have grown their margins
as have shrunk them.
Looking ahead, our respondents have a clear view
of the likely view of the UK’s economic performance
with 88% anticipating growth of up to 2%. The British
Chamber of Commerce recently upgraded its GDP
growth forecast from 0.9% to 1.3% for 2013, from
1.9% to 2.2% in 2014, and from 2.4% to 2.5%
for 2015.
“We have seen a range of economic indicators pointing
to an upturn so rising optimism among entrepreneurs
is no real surprise,” says Deloitte’s Ian Stewart, Chief
Economist. “There is still risk in the system, but ultralow interest rates and large-scale quantitative easing
are feeding through to the economy with significant
positive effect. Coupled with further strengthening in
the financial system and a quieting of the euro crisis
this provides the most positive economic backdrop in
more than two years.”
Yet what is particularly striking in our research is that
while GDP forecasts continue to rise, entrepreneurs
are confident they can outperform even these more
optimistic projections. 64% expect to grow by more
than 10%, 18% expect to grow by more than 50%,
while only 5% expect turnover to fall. Forecasts for
growth exceeding 10% is nearly double compared
to last year’s forecasts.
12. 11
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
To some extent this reflects the optimism we should
expect from entrepreneurs. Yet, it is also rooted
in genuine shifts in the business environment.
Notably, compared to previous years when lack of
access to finance was a major obstacle standing in
path of growth, the 2012/2013 survey painted a
brighter picture of the funding options available to
entrepreneurs. Indeed in this year’s report we saw
a much broader spread of obstacles to growth; only
19% of respondents cited a lack of capital as their
primary obstacle to growth with almost the same
concerned about lack of consumer confidence.
Only 16% remained concerned about the uncertain
domestic environment and 14% were concerned about
recruitment and retention of quality staff.
“In many ways this is a reversion to the norm with
entrepreneurs facing a range of obstacles, rather
than continually running up against a lack of finance,”
says Doleman. “It is an exciting time, but one in which
entrepreneurs must make vital and difficult decisions.
Our survey highlighted the areas posing the greatest
dilemmas for entrepreneurs, and also pointed to some
of the solutions that will see yesterday’s surviving
small business become tomorrow’s entrepreneurial
success story.”
PREDICTED GROWTH
64%
2012/2013
2013/2014
34%
17% 18%
Predicted growth
over 10%
Predicted growth
over 50%
16% 19%
UNCERTAINTY
DOMESTIC
LACK OF CAPITAL
7% 5%
Predicted fall
in revenues
18% 14%
LACK OF
CONSUMER
CONFIDENCE
RECRUITMENT
AND RETENTION
13. 12
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
Turning the corner – making decisions
for growth
14. 13
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Despite a more positive turn, this is also an important time for entrepreneurs.
As Stewart puts it: “The last five years have been all about survival and building up
cash; now is the time to think about investment.” Indeed the decisions made in the
next 12 months will to a very great extent determine who are the success stories of
the next five to ten years and who are the also-rans.
Greater optimism replaces gloomy outlook
Turning the corner – Making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
Entrepreneurs are keen to grow and critical to their
success, they believe they can do so. Many also
believe they now have the cash reserves in place to
enable them to do so. In fact our survey indicated that
entrepreneurs’ cash reserves are stronger than they
have been for some years with 56% planning to fund
growth from cash from business profits and only 16%
are looking to finance themselves over the next twelve
months from bank finance.
Further signs of recovery is that the number of
entrepreneurs actively stockpiling cash reserves for
recovery has seen a substantial drop from 32% last
year to only 15%. Those who are monitoring their
cash position daily has also declined by 11%. However,
despite these generally positive signs of economic
recovery, the number of companies who reported
to be struggling and experiencing severe difficulty
has remained the same.
COMPANIES ACTIVELY STOCKPILING CASH FOR GROWTH
UPON RECOVERY
32%
2012/2013
2013/2014
15%
15. 14
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Last year, respondents who were actively stockpiling cash cited their reasons for doing
so to “To provide a platform for future growth and investment” and “Because we do not
trust the current environment and our sales can drop overnight like they did before”.
For some time entrepreneurs have been reluctant to invest, fearful of spending money
before the recovery had fully taken root. A decrease of 17% of those who are actively
stockpiling cash, aligned to 40% of respondents seeking to invest indicates that sentiment
is beginning to change for the better.
Turning the corner – Making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
Even if the appetite and the capability exist there seems
to be a degree of conservatism around where to invest.
The main growth strategy of 49% of respondents is
organic growth. Good news in the survey is that 15%
see new product development as the main route to
growth and 14% see export as their primary growth
strategy. However, Keith Willey suggests that this
weight towards organic growth may be evidence of
potentially growth limiting caution.
“Survival skills are an essential part of the
entrepreneur’s profile and as we look back on the
last few years of a difficult economy many of the
survivors can rightly congratulate themselves for
staying the course,” says Keith Willey. “Can these
same entrepreneurs reap the good times presaged
by an improving economic outlook though?
The entrepreneurial scene is haunted by what venture
capitalists call the living dead – the companies that
survive bad times but fail to grow in the good.”
What is your current cash position?
35
30
25
20
15
10
5
0
Experiencing
severe
difficulty
2012/2013
h
Struggling
2013/2014
Less than
last year
Monitering cash
position daily
Actively
stockpiling
16. 15
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – Making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
He continues: “Every leader has to ask whether they
have an inherently scale able business and whether
they can capture real value. All too many will now
find themselves lacking the growth mindset, perhaps
with the wrong business model for scale, possibly with
margins that have been sacrificed in order to survive
and market offerings that speak to 2008 rather than
2013. It’s time to call the changes and make sure to get
on the next wave of growth not the last one.”
Another recent Deloitte report this time from the M&A
Perspectives team offered a clear suggestion on how
to make that next step out of safe organic growth.
23% of the companies surveyed in ‘Restarting the SMEs
engine’ had used M&A in the past ten years, acquiring
a total of 106 companies with disclosed deal values
of almost £3 billion. With the UK’s SMEs struggling to
achieve organic growth, M&A offers an opportunity
for companies to boost revenues, grow market share,
capture greater efficiency savings and expand their
offerings to clients. Indeed, this report makes it
clear that M&A need not be the prerogative of just
the largest firms; it can and should be a means
of stimulating and increasing growth for companies
of all sizes.
Before looking in more detail at the ways those
entrepreneurs are, and could be, stimulating that
growth, it is worth bearing in mind the importance of
establishing solid delivery mechanisms. “Entrepreneurs
tend to be focused on product and customers, and
they often forget about delivery,” says Jas Sahota,
Partner in Restructuring Services. “Too many overspend on sales and marketing without putting in
place the proper systems and people to ensure the
demand is met and customers are satisfied. Failure to
do this results in a betrayal of the brand promise and
a short-lived enterprise. Get this right and you lay the
foundations of long-term success.”
49% 15%
ORGANIC
GROWTH
NEW PRODUCT
DEVELOPMENT
14%
EXPORT OR
GLOBAL
EXPANSION
17. 16
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
The distant, sunlit shore – new export
opportunities
18. 17
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
In 2011 32% of UK GDP came from export, up from 30% in 2010 and just 25% in
2004. In 2011 32% of UK GDP came from export, up from 30% in 2010 and just
25% in 2004. Increasingly, UK plc is speaking to consumers in all parts of the globe.
However, despite a combination of the weak pound
and a consumer economy mired in recession leading
more and more UK companies to look overseas for
customers, our respondents are still exercising caution
with regard to export and particularly where emerging
markets are concerned in favour of more traditional
and ‘safe’ markets like Europe or North America.
Only 4% of our respondents export to the BRIC
countries with no real change year on year. Surprisingly,
60% still see the UK as the best place for growth
followed by North America 15%, and Western Europe
7%. Asked about barriers to new markets, 31%
regarded a lack of knowledge of foreign markets to be
the biggest barrier with 21% having concerns about
how to establish foreign networks. 14% registered
concerns about differences in languages or culture.
In a competitive market, businesses should not
ignore the global opportunity. Kate McCarthy, Insight
Manager, puts it: “We live in a world that is becoming
more and more globalised with each day that passes.
That presents UK entrepreneurs with a simple choice:
either go and compete with companies in emerging
economies or sit and wait for companies from
emerging markets to come and compete in your home
territory.”
This year’s report revealed a continuing recognition of
the importance of Europe to UK entrepreneurs.
46% viewed Europe as a major export destination, and
when asked to comment on the EU only 8% could see
any benefit to leaving it. Nigel Farage’s UKIP may be
making inroads in the electoral map of Great Britain,
but our survey suggests that it is still some way from
persuading the wealth generators of Britain of the case
for withdrawal from the EU.
Perceived barriers to new market entry
30
25
20
15
10
5
0
Lack of
demand
Lack of
knowledge
Being able
to price
Perceived barriers to entry for export
h
Foreign
network
Culture/
language
Logistics
problems
19. 18
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
North America is another important market for
our respondents with 34% seeing it as an export
destination. While Asia and China as a whole was
marked as important by 30% of respondents, China
itself is less appealing with only 9% showing an
interest. This is a result partly of reduced enthusiasm
for the BRIC countries, and partly of a recognition
that doing business in China is difficult. It requires a
significant investment of time in building relationships
and networks.
Yet, it may be short-sighted of UK entrepreneurs to
neglect this opportunity. After all, by 2020 57% of
urban Chinese consumers will be able to afford a car
and small luxury goods – a six-fold increase on the
number today. Perhaps UK entrepreneurs should be
investing time and money now to tap into this market.
Earlier this year, as part of UK Futures, Deloitte
published ‘Winning in growth markets – Developing
collaborative ecosystems for success’ which highlighted
“the unprecedented growth of the new middle class
outside western economies will arguably be the most
powerful economic trend in the coming decades”
with the economic expansion of India, China and
others. This report revealed that researching those
who have been successful in entering these growth
markets a common characteristic has been “a
purposeful approach to building and maintaining local
ecosystems”. This approach has allowed companies
to “overcome the difficulties of expanding into
these markets, mitigating risk while bridging cultural
differences, and managing geographical and political
complexities.”
Wherever they invest, one thing is clear, entrepreneurs
need to build ecosystems.
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
UK Futures
Deloitte UK has created “UK Futures, a multi-year
programme to assess and facilitate how business
can drive UK growth. The aim of this strategic
initiative is to identify the key opportunities and
challenges facing British business and articulate
the key interventions that would enable these
businesses to both create and capture value in
the changing global landscape.
20. 19
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
Doing business with the Chinese
Cahal Dowds is Vice Chairman of Deloitte UK and Head
of Private Markets & Advisory Corporate Finance.
He has recently advised on the sale of the luxury yacht
firm Sunseeker International from a consortium led
by FL Partners to the leading Chinese conglomerate,
Dalian Wanda Group. He believes we will see more
deals like this in the years ahead. Chinese outbound
M&A activity has increased sharply since 2004, with
deal volumes growing by almost 25% per annum.
In addition, the Chinese view the UK as one of the
most attractive countries in which to transact. Yet he
stresses the importance of understanding the specifics
of doing business with the Chinese and offers these
tips for success.
Alex Thompson, a Senior Manager from Deloitte
who spent six months secondment in China, has
observed that many UK businesses choose to set up a
Chinese company with a local partner and offers this
caution; “While this can avoid many of the difficulties
those going it alone face, it does raise the issue of IP
protection. Is your IP protection valid in China or do
you run the risk of your partner taking your IP?”
For more information: The China Factor: A guide
to doing business in China
My experience – Cahal Dowds, Head of Private Markets
1. on’t expect it to happen quickly. The Chinese believe in gradualism; it
D
is very easy to have a positive meeting but very challenging to achieve a
positive outcome. Deadlines may be a well observed custom in Western
business culture, but in China, deadlines have no meaningful effect and can
often be ignored. The pace of the negotiations will be largely set by them.
Patience and tenacity are key.
2. Don’t try to do business remotely. Face to face meetings are the only way
to make progress. Build the relationship first, then business will follow.
3. I cannot emphasise how important it is to have a “Chinese” team member
at meetings to help with translation and make sure both what you say is
translated correctly but also to pick up and understand nuances and cultural
aspects discussed by the other side in their own language.
One thing is clear when entering new markets like China, it is important
to be well informed:
1. se local employees, a local partner or professional advisers to help navigate
U
the bureaucracy, business culture and local customs.
2. Ensure you have an awareness of the regulatory environment and the
limitations these could place on your business.
3. Consider how to take money in and out of China to avoid cash becoming
“trapped.”
4. Seek professional advice up front (re taxation, IP protection, etc.) to avoid
getting into difficulties.
5. djust your expectations: in China “everything is possible, but nothing
A
is easy”!
21. 20
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
The brave new world – new digital
technologies
22. 21
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
It was a surprising to discover that 37% of respondents believe that social media is
not relevant for their business. Of those who do use social media, 76% are using it for
advertising, marketing and PR, with only 6% for recruitment and customer relations
respectively. It still seems as though there is much that can be done to embrace the
opportunities available from living in a connected world.
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
“Technology can allow real-time interaction with
customers and suppliers, it can open up a global
customer base, it can massively reduce reporting
timeframes, and the emerging field of analytics
can provide game-changing insights,” comments
Mark Doleman. Many businesses are failing to
embrace developments in technology because of
a mistaken belief that digital means Facebook and
Twitter. There is so much more to it than that and
it is significant mistake to believe it is neither
relevant nor useful.”
HOW IMPORTANT IS SOCIAL MEDIA TO YOUR BUSINESS?
NOT
VERY
17%
IMPORTANT
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
7%
MAYBE IN
THE FUTURE
65%
10%
1%
DON’T KNOW
23. 22
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Case study: Greys of Ely
Greys of Ely is a third-generation family owned coach company in Ely, Cambridgeshire. It owns 30 vehicles, employs 45 staff, and has a
turnover of £1.5m. 38% of its business is home-to-school journey contracted to Cambridgeshire County Council and the remaining 62% is
private hire to the likes of groups of schoolchildren on trips to London, groups of executives at large local businesses like Deloitte, and sports
teams.
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
“We have always believed in the potential of digital technology to give us an advantage over the competition,” says Richard Grey, MD. “We’re
on our third generation website, but it is our investments in vehicle tracking and onboard wifi that have really set us apart and helped our
business grow.”
In 2009 the company first placed tracking devices on its vehicles and allowed customers to view vehicle progression its website. “It was
introduced to us as a technology that could help with driver compliance and fuel efficiency, but our first reaction was that customers would
love it,” says Grey.
He adds: “We were right. The third most popular page on our website is the tracking page. We get emails from parents saying how grateful
they were for it when their child was late back from a trip and had forgotten their mobile phone. One customer who sells battlefield tours to
schools even includes in his pitch the fact that he uses our vehicles with their tracking devices.”
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
Grey is certain they have made worthwhile investments which have played an important role in growing the company turnover by 50% since
2009. He will shortly introduce a new vehicle tracking system which will offer two-way communications with the driver, tracking information
on driving performance and behaviour, and information on vehicle maintenance.
He concludes: “Our business might not seem like one where digital technology is all that relevant, but our experience proves what can be done
by looking outside your own sector for fresh ideas, and by looking not just at how the competition do things today, but at how you can beat
them by doing things differently tomorrow.”
24. 23
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
Claire Wood, Marketing Director in Deloitte Analytics,
agrees. “Some entrepreneurs may be out of their
comfort zone and perhaps afraid of the unknown,”
she says. “There is so much that can be done that to
even begin feels overwhelming. On top of this, digital
technologies are so ubiquitous that many people –
especially the non-digital natives – are afraid to admit
ignorance and ask how it can be made relevant
to them.”
She has seen first hand how data analytics can
transform a business. Analytics in business is taking
data from any source, and analysing it to get an answer
to a specific question. She gives an example of how it
can work: “We worked for one firm, giving them an
aggregate view of the journeys it was making, and
showing them how they could cut transport costs by
25%. At first they refused to believe it, but we were
presenting them with the hard facts. Where in the
past decisions might have been made by guesswork,
or accepting the opinion of the highest-paid person
in the room, data analytics changes all that – it gives
entrepreneurs the information they need to make
decisions based purely on facts.”
Private equity investor SVG, which has a 27% holding in
New Look, recently upped the value of its stake, which
two years ago it wrote down to zero. It has re-valued
the stake at £10m. Speaking to Retail Week in August
2013, SVG chief executive Lynn Fordham said: “Despite
the tough economic environment and pretty extreme
weather conditions, New Look’s earnings improved
strongly last year mainly through cost-cutting and
better margins thanks to fewer sales markdowns.”
Digital privacy – an untapped opportunity?
Recently, Deloitte conducted its Data Nation report which looks into the
attitudes of the UK public to organisations that hold data about them. Its
findings pointed to a significant and largely untapped opportunity
for entrepreneurs.
“Consumers lack confidence in the ability of companies to handle their data
correctly,” says Harvey Lewis, Research Director and author of the report.
“The only ones they trust are those that very clearly explain to them how they
will use their data. In this sense we believe that data privacy can be seen as
a new currency.”
To give just one example of this in action, in August
2013 retailer New Look saw its first quarter EBITDA
jump by 13.1% as group like-for-likes rose 0.3% despite
the unseasonable weather in the April to June period.
He points to social networks aimed at children as good examples of companies
that do this well. “Details on data use are prominent and clear,” he explains.
“If they are not then children won’t read them and their parents won’t allow
them near the site. These organisations are right at the sharp end of data
privacy but there is much that every entrepreneur can learn from them.”
Chief Executive Anders Kristiansen reported that the
analytics work it had done with Deloitte Analytics had
allowed it to understand the merchandising needs of
individual stores, ensure it had “the right stock in the
right store”, and so reduce the volume of markdowns
by 25% over the period.
He concludes: “Our research revealed that there is a gap in the market for
companies to provide clear and accessible information on data privacy.
Older businesspeople in particular are struggling to engage with this
opportunity, but those that do embrace it and act will reap the benefits.”
25. 24
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
A slow thaw – engaging with banks
26. 25
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
As we have seen finding new export markets and using digital technologies are important
routes to growth, but both require significant finance. Traditionally entrepreneurs have
gone to banks for funding but there are signs this may be changing.
We have already seen how entrepreneurs have spent
the past few years building up their cash reserves.
It comes then as little surprise to see that 36% expect
to use these reserves to finance growth. Only 9.5%
expect to take out a bank loan and 7.2% will use
an overdraft.
This year 39% of our respondents told us they see the
banks as primarily a deposit taker; a mere 31% see it as
a lender. When it comes to ways to improve 45% want
better lending terms, 18% want better rates of interest
on deposits, 11% wanted a faster service, while 14%
believe there are no areas of improvement required.
Back in 2008 only 10% saw banks as the best source of
growth finance, so in the past five years we there has
been little softening in the relationship between banks
and their small business customers. To some extent
this is a function of a perceived lack of willingness to
lend. Only 19% of respondents believe banks are more
willing to lend than they were this time last year and
40% say there has been no change.
Banks: What would you do to improve?
No areas of
improvement
Increased
communications
Better rates of
interests on deposits
Faster service
Better understanding
of business issues
Better lending
0
10
20
30
40
50
27. 26
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
A BIS-commissioned report by the National Institute
of Economic and Social Research in February 2013
supported this view. It concluded: “Overall, we
suggest that the research is indicative of a shortage
of finance for SMEs, reflecting banks’ attitudes to risk
and their own pressures to deliver combined with
banks’ market power in the SME sector. Although
demand is also probably subdued, there is a high level
of discouragement from application for lending as
well as high rejection rates and margins on credit after
controlling for risk.”
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
Yet it is perhaps the 25% of our respondents who
told us they do not use banks that should worry the
banks the most. Banks may have funds available to
lend to businesses, and they may be loosening the
criteria by which they spend, but the simple fact is that
entrepreneurs remember seeing peers have lines of
credit withdrawn overnight and they have no intention
of leaving themselves so exposed to the whims of
bank managers.
On a more positive note, at the end of August Mark
Carney, Governor of the Bank of England, announced
an easing of its credit controls. Banks with a capital
base equal to 7% of their risk-weighted assets will be
eligible to take advantage of the new scheme, which
the Bank of England reckons could eventually unlock
£90bn of lending. “Every pound in liquid assets is one
that can be used in the economy,” he said in a speech
in Nottingham. Mr Carney said the decision to “relax”
the Bank’s strict liquidity requirements came as a result
of the repair work done on banks’ balance sheets.
If money is starting to come through the banking
system then it is vital that entrepreneurs begin to
engage with banks and access those funds.
Investment for entrepreneurs – exploring
alternatives
In the meantime we are seeing a growing number
of entrepreneurs look for more innovative forms
of finance. At the National Investment Summit on
3rd July 2013 Deloitte and the UK Business Angels
Association (UKBAA) released a joint report entitled
“Taking the Pulse of the Angel Market”. It looked at
262 deals worth £137 million between April 2012 and
March 2013 and revealed a glaring need for greater
understanding among entrepreneurs of how to
successfully attract angel investment.
Jenny Tooth, Chief Executive of the UK Business Angels
Association (UKBAA) says: “Entrepreneurs can waste
a lot of time by going down the wrong finance route.
Going to a bank is usually fruitless before a company is
generating revenue. Entrepreneurs at this early stage
may use grant providers, or crowdfunders to further
develop the concept, whilst those companies with
growth ambitions may be suitable for equity finance
from angel investors.”
25%
DO NOT USE
BANKS AT ALL
28. 27
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
Indeed she believes that there is currently around
£850m-£1bn of angel investment in the UK
entrepreneurial market, around three times as much
as there is venture capital money. Angels are attractive
to entrepreneurs since they not only bring investment
typically from £50,000 to as much as £1.5 million,
when operating as syndicates – but also because they
bring expertise and contacts. The right angel can
revolutionise a business.
We are seeing a number of online funding options
emerge to cater for this surging demand for alternative
business funding. “Organisations like MarketInvoice,
Funding Circle and Urica are presenting a number
of interesting options for the entrepreneurs who are
savvy enough to seek them out,” says Tim Armstrong,
Director of Public Policy at Deloitte, who recently spent
15 months on secondment to the BIS working on the
Breedon Review and the formation of the Business
Bank. “In the US alternative funding has been the
norm for 60 years – here in the UK we are just
getting started.”
Finally, the arrival of the Business Bank may provide
another funding opportunity for UK entrepreneurs.
Whilst the design is still being finalised, we understand
that it will have three arms: firstly, it will consolidate
all existing Government funding schemes for small
businesses; secondly, it will provide wholesale funding
to SME lenders; and thirdly, it will encourage alternative
investors to lend to small businesses by matching
private sector money in funds targeted at small
business. The Business Bank has the potential to ensure
that there’s always an alternative to bank finance for
credit-worthy SMEs.
Sources of capital, based on analysis of 262 angel
deals in 2012/13
Total amount invested £140m
£30,557,412
£30,289,768
£76,207,920
Other
Funds
Angels
29. 28
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
While this is all promising, as anyone who has ever seen
an episode of Dragons’ Den knows, getting an angel
on board is far from easy. They are very selective about
where they invest their hard-earned cash (or their
“children’s inheritance” as one Dragon is famous for
saying”). “Very often the idea of giving away equity is
alien to an entrepreneur,” says Chris Eastman, Assistant
Director: Corporate Finance at Deloitte. “Their company
is their baby, something they’ve lived and breathed for
years. They don’t want to give any away.”
He continues: “Even those who overcome that obstacle
can encounter practical difficulties. The finances
of a family-run business often need a great deal of
upgrading before they can be presented to a potential
investor. The investor will need to be convinced by
the management team, the track record of growth,
the market opportunity, and the strength of the
defensive strategy.”
30. 29
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
The role of Government
31. 30
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
Is there more Government can do
to support entrepreneurs?
With the 2013 Budget announcement of a £2,000 credit on Employers’ NIC, the
Government has looked to assist entrepreneurial businesses with the cost of employing
people in line with one of the main policy recommendations we put forward in last years’
2012/13 report.
Last year respondents indicated that PAYE, NIC and
VAT were the three greatest burdens to their business.
This change was welcomed by respondents to our
latest survey, however 60% felt that more could
be done to assist entrepreneurial businesses. So,
what more can the Government do to encourage
entrepreneurial growth? In the US, companies with
fewer than 50 employees created 45% percent of
the 188,000 new jobs in June 2013, according to a
recently released ADP National Employment Report
and the percentage of jobs created by small companies
continues to grow.
Private businesses make up the majority of the UK
economy, and hold the greatest potential for further
growth in jobs and output. “There is now a clear crossparty consensus on the importance of entrepreneurs
for economic growth,” notes Ian Stewart, Chief
Economist. “Politicians of almost all persuasion agree
that the recovery cannot be led by Government or
consumer spending so it will have to be business
growth, and it is small businesses that will lead that
growth. That is why the Government operates so many
tax incentives for entrepreneurs.”
60%
FELT THAT MORE COULD BE DONE TO ASSIST
ENTREPRENEURIAL BUSINESSES. SO, WHAT MORE
CAN THE GOVERNMENT DO TO ENCOURAGE
ENTREPRENEURIAL GROWTH?
32. 31
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
Yet our survey would suggest that a quarter of
entrepreneurs surveyed remain startlingly unaware of
Government approved tax and lending schemes. Tim
Armstrong is not altogether surprised. “It has been
a frustration within Government for many years that
it has been forbidden to carve out a proportion of a
funding budget to promote Government led schemes,”
he says. “So funds have sat unallocated because too
few know about them. It is therefore encouraging that
the Business Bank will have a dedicated marketing
budget.”
Tax incentives to consider
David Cobb, Partner at Deloitte, outlines five tax
incentives that his team has helped entrepreneurs to
take advantage of in the past few months:
1. RD tax relief
Small and Medium sized companies can claim an
enhanced tax deduction of 225% of their qualifying
spend on research and development. If the company
has losses, a payable credit equal to £24.75 for
every £100 of qualifying spend can be claimed.
This incentive has been around for over thirteen years
and provides an extremely useful boost to cash flow
but too often companies engage in qualifying research
and development without realising that it is eligible
for this relief. The key aspect is not the outcome but
the technological challenges that had to be overcome
and if there is sufficient uncertainty, the work may
be eligible.
2. EIS
An individual investor can claim up to 30% income
tax relief on an investment of up to £1m in a company
that has gross assets of no more than £15m before the
investment.
Five recommendations for Government
1. Make sure that the Business Bank is ‘entrepreneur-friendly’
2. Further reduce the cost of taking on staff
3. Encourage talent recruitment from overseas
4. Develop ecosystems that SMEs can access to enter new markets
5. Promote export finance
Furthermore, if the investor holds their shares for more
than three years, on a sale of their share at a gain, there
should be no capital gains tax payable. This provides a
significant incentive to angel investors in relatively small
but growing companies and is something that such
businesses should be aware of when seeking to raise
funds.
3. Seed EIS
For smaller companies an investor can claim up to
50% tax relief on an investment of up to £100,000.
This is available for investments in a company that has
gross assets of no more than £200,000 before the
investment, has fewer than 25 staff, and has been
trading for less than two years. Qualifying companies
can raise up to a maximum of £150,000 in total utilising
this relief. Furthermore, if the investor holds their
shares for more than three years when they realise the
investment it attracts no capital gains tax.
33. 32
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
4. Patent Box
Companies are taxed at only 10% on profits that are
derived from a technology that is patented in the EU or
European Economic Area. This is a relatively new relief
which was introduced in April 2013 and is designed to
keep intellectual property in the UK. We are already
seeing many entrepreneurs start to benefit from it.
5. Enterprise Management Incentive Scheme
This enables companies with fewer than 250 employees
and gross assets of no more than £30,000,000,
which carry on a trade wholly or mainly in the UK
to effectively incentivise and retain key employees
with the grant of EMI options. Where the employees
exercise and sell their shares, and a 12 month period
has elapsed between grant of the option and sale
of shares, then the disposal should be eligible for
Entrepreneur’s Relief (with a tax rate of 10% on
at least a proportion of the gain).
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
Case study: Alberto Lopez, Founder Chief Executive, Alva
It was after spending 15 years in the business intelligence sector in various senior roles that Alberto Lopez, met former Chief Technology
Officer of law firm Clifford Chance and Alastair Pickering, a media analysis expert. The three got talking and result was Alva, a reputation
business intelligence firm that developed a technology platform that enables corporates to analyse their reputation and understand how
sector or company events affect that reputation. It harvests content every two to three minutes from media coverage, analyst reports, social
media, surveys, and other publicly available information.
Lopez spent a year incubating the business before launching it in March 2010. Much of that time was spent building a business plan and
recruiting the core team who would appeal to investors. “The core team have been incentivised with shares in the company using the EMI
scheme,” says Lopez. “It enables us to keep costs low in these early years, and it will be extremely good for those with the share options.”
In April 2010 he gained £625,000 funding from a venture capital firm and three angels. The investors used the EIS scheme too. Lopez says:
“This investment round gave us the means to develop a prototype of the service and invest in demand generation. During this development
phase we spent around £1m developing the technology so using the RD tax relief we saved around £150,000.”
Lopez reports that the business has begun to really take off in the past 18 months. Alva is used by 25% of the FTSE100 and they are
maintaining a steady client acquisition, with plans to move to the US market in 2014. Turnover is currently £1.5m a year and the business
became profitable at the end of 2012. In 2011 the business was shortlisted for the MBA Entrepreneurship Award and in 2013 the business was
shortlisted as Young Company of the Year.
34. 33
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
Conclusion
35. 34
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Growth is just around the corner and the decisions that businesses make now will affect
whether or not they lead that growth or watch it pass them by.
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
As we climb out of the downturn, the world we find
ourselves in is very different to the one of five years
ago. The digital revolution continues. Embracing it
can help grow revenue by bringing customers closer,
streamlining the business to increase efficiency and
reduce costs. While failure to move with the times
may mean that perfectly viably businesses could
be threatened by competitors who have embraced
improved processes and can offer more competitive
services to their customers.
Entrepreneurs recognise these changes and act –
gathering expert advice, building support ecosystems,
and making astute investments – will reap the benefits
in the years ahead.
Our message to government is that now is the time to
provide meaningful support to businesses; measures
which aids the ability to export and expand globally;
finance for growth and continue to cut red tape.
Our message to entrepreneurs is:
• nsure your team and business model is set
E
for growth
• e alert, nimble and responsive, don’t
B
over engineer
• ollaborate to win in new markets – create
C
your own ecosystems
• e-build relationships with debt providers as
R
you may still need them
• igital technology is here to stay – embrace it
D
Good times are on the horizon, but entrepreneurs
are entering a brave new world.
36. 35
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
How I made it
David Spencer
David Spencer Percival is the MD of London-based Spencer Ogden Energy, a recruitment
firm set up in 2010 to service the growing demand for talent in the oil, gas and
renewable energy markets. He was one of the founders behind Huntress Group, the IT
recruitment firm, which he founded. It grew to a £100m turnover in eight years and
then sold two weeks before the collapse of Lehman Brothers. In the energy market he
saw an opportunity to disrupt a staid and static market that was failing to deliver to its
customers. With his firm now turning over £50m from nine offices in London, Aberdeen,
Glasgow, Houston, Calgary, Dubai, Hong Kong and Singapore, he is already making
significant inroads. And he believes this is just the beginning.
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
It is encouraging to see so much optimism in this year’s
report, but it is not surprising. Businesses need to be
growing at least 10% a year or they are shrinking.
The official rate of inflation might be under 3% but
the inflation rate for anyone earning more than
around £60,000 a year – when you factor in rising
property prices, emerging new must-have consumer
technologies, and so on – is more like 10% a year.
So, entrepreneurs need to run ever faster to keep
ahead of that rising tide.
We are certainly achieving that at Spencer Ogden
Energy. Already our growth is outstripping what I
achieved with Huntress. Some of that is certainly down
to the fact that we have a strong offer in a market that
is ready for change, but that can only take you so far.
You need to make the right decision in key areas.
One of those areas is technology and it amazes me to
see so many respondents to this year’s survey appear
to dismiss the relevance of technology to their
businesses. Having a cloud-based front-end has been
central to our firm’s success.
It was expensive to do, and risky because it had never
been done before, but clients love it and it enables
many operational efficiencies. I think there are few
sectors for which it is entirely irrelevant. Today’s
technology is a once-in a lifetime opportunity and
to miss it is folly.
It was less surprising to see only 9% of respondents
viewing China as a priority export market. It’s a tough
place to do business. We have a Hong Kong office
but have to wait three years before we are granted
a Wholly Owned Foreign Enterprise (WOFE) license.
Many technology firms have been stung by sharing IP
with their local partners, and there is certainly a sense
in which Chinese people only buy from other Chinese
people, so I would counsel approaching China with
caution. The 9% who are keen on it are probably
mostly luxury brands.
37. 36
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
Tax is always a burden, and if I look at this month’s
Employer’s NIC, I am paying £119,000. The £2,000
allowance in this year’s Budget is irrelevant to me.
With the Employer’s NIC tax, over a year I could open
three offices and employ an extra 50 people.
On finances, for me and I think for many entrepreneurs,
one of the greatest challenges has always been
managing cash flow. It is crucial for a small business
and especially one that is growing as fast as mine have
done. It can be terrifying to see your costs spiralling,
and unless you are on top of your debtor book,
applying yourself to achieve the balance between
hounding for payments and remaining on good terms
with clients before you know it you find yourself unable
to pay salaries. I think it is a major reason why so many
businesses prefer to stay small.
I was fortunate to have backing from Sir Peter Ogden,
the man who founded Computacenter. I knew him
from my Huntress days and he was keen to invest
with me, but even then we had to prove ourselves.
We launched right in the teeth of the recession and his
wealth had fallen, with his shares in computa center
alone going from £600m to £20m. It might have now
risen to £300m, but in 2008-09 no one was handing
out money easily. He advanced his investment quarter
by quarter only on the back of us delivering to plan.
Using technology, picking the right markets, managing
cash flow and getting investment are all important,
but perhaps the greatest reason we were able to meet
those targets quarter by quarter was that we got the
right people. In any business, but especially in one
like ours, success depends on finding the best people
and then getting the best from them. You need to be
honest and upfront with them, you need to give them
a clear structure and discipline, and you need to show
them what they can achieve through sheer hard work.
38. 37
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
How I made it
Huub Design on reaching £1m
turnover in two years
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
“There are 48 wetsuit brands in the EU and a further 32 in the US,” says Dean Jackson,
MD of Derby-based Huub Design. “So, when I got an inkling I was about to lose my
job working for one of those wetsuit manufacturers starting to think how I could launch
a new one into the market probably wasn’t the most sensible first thought. But it was my
first thought and I went with it.”
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
He has had astonishing success in a very short amount
of time, selling £500,000 in his first year of trading and
now being on track for £1.1m in his second. He is also
set to turn in a net profit of more than £100,000. It is
the sort of success that every fledgling entrepreneur lies
awake dreaming of. So, how did he do it?
“First and foremost we got the product right,” he says.
“All the leading wetsuit brands make extravagant claims
about the technical properties of their products but I
felt they lacked evidence-based grounding, so I got the
industry’s leading scientist Professor Huub Toussaint
and freestyle stroke experts swimsmooth to join
my team, and took my idea to the banks. After all, the
testing we needed to do is expensive.”
Jackson received the stonewall response that will be
familiar to anyone who has ever approached a bank
with a business idea where the product and sales have
yet to be realised. He was feeling despondent until a
chance conversation set him back on the right path.
“I do triathlons myself and I was just chatting with a
fellow competitor after an event,” explains Jackson.
“He was wondering why I had performed so much
worse that when last raced against me. I don’t him
about all the troubles I was having, and it just so
happened that I was talking to Mark Doleman, Head
of Entrepreneurial Business at Deloitte. He instantly saw
the potential in my idea, and put me in touch with
Tom Mawhood of local angel investment syndicate,
Turning Point.”
Jackson met with Mawhood two days later and within
days he was in front of a panel of a dozen investors
pitching his idea. He felt the pitch went terribly but got
the call with an offer of £25,000 investment to develop
and test the product with the promise that if he then
persuaded an Olympian to wear it and pulled in orders
of more than £200,000, they would put in a further
£100,000. He has eight weeks to do it all.
39. 38
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching £1m
turnover in two years
Meet the private markets’ leaders
h
Remarkably he did it, with not just any Olympian
wearing it, but the Brownlee brothers who achieved
worldwide recognition with their inspiring gold and
bronze triathlon feats at London 2012. Since then he
has been running the business from his garage and
building sales at an impressive rate.
Jackson describes some of the ways he has achieved
this: “We have put our faith in small retailers, trusting
them to recognise the quality of the product and not
reduce price. We have made good use of social media
and there is now an active community that calls itself
the Huubsters. We have benefitted from the Derbyshire
Development Fund which is allowing us to move into
a warehouse in Derby and to scale up to 11 staff over
the next three years. Despite it all we have still needed
to rely on Calvertons invoice financing and short term
loans from our investors.”
He concludes with this advice: “If you want investment
get your plan right. Mine was 34 pages long with
detailed cash flow forecasts, competitor analysis, and
sales and marketing tactics. Get the best advice, and
never under-estimate just what might come out of a
casual conversation with an acquaintance. And finally,
remember that whatever you do, no matter how well
you prepare, cash flow will always hit you round the
head. Buy a helmet!”
40. 39
Entrepreneurship UK 2013/14
Entering a brave new world
Meet the private markets’ leaders
Foreword
Expert viewpoint
– Theo Paphitis
Aberdeen
Hazel Gray
+44 (0) 1224 847741
Belfast
David Crawford
+44 (0) 28 9053 1232
Birmingham
Ashley Hollinshead
+44 (0) 121 695 5719
Bristol
Sam Hart
+44 (0) 117 984 2764
Cambridge
Richard Crane
+44 (0) 122 325 9544
Cardiff
Laurence Hedditch
+44 (0) 292 026 4220
Edinburgh
Mike Mcgregor
+44 (0) 131 535 7326
Gatwick
David Bell
+44 (0) 1293 761220
Glasgow
Douglas Farish
+44 (0) 141 304 5751
Hull
Kate Hayes
+44 (0) 113 292 1629
Leeds
Richard Davis
+44 (0) 113 292 1591
London
Paul Fletcher
+44 (0) 20 7007 3954
Manchester
Rachel Argyle
+44 (0) 161 455 8526
Newcastle
Stuart Cottee
+44 (0) 191 202 5251
Nottingham
Mark Doleman
+44 (0) 115 936 3742
Reading
Mike Thorne
+44 (0) 118 322 2388
Sheffield
Kate Powell
+44 (0) 113 292 1285
Southampton
Kate Reynold
+44 (0) 238 035 4414
St Albans
Julian Rae
+44 (0) 122 325 9809
Lea Pateman
Head of Private
Markets’ Marketing
+44 (0) 20 7007 2487
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
41. 40
Entrepreneurship UK 2013/14
Entering a brave new world
Foreword
Expert viewpoint
– Theo Paphitis
– Sherry Coutu
– Keith Willey
Executive summary
Greater optimism replaces gloomy outlook
Turning the corner – making decisions for growth
The distant, sunlit shore – new export opportunities
The brave new world – new digital technologies
A slow thaw – engaging with banks
The role of Government
Is there more Government can do to support
entrepreneurs?
Conclusion
How I made it – David Spencer
How I made it – Huub Design on reaching
£1m turnover in two years
Meet the private markets’ leaders
h
The message to the UK’s
entrepreneurs is clear. The time has
come to think about growth and
investment, and to ensure you have
the skills within your organisation
to take advantage of new markets
and technologies.