|
New research from Orange and YouGov has found that, despite the impact of the recession, entrepreneurialism is alive and well across Britain. However money and commercial success are not the primary drivers behind entrepreneurs starting their own business. Over half (51%) of the respondents to the YouGov survey of workers aged 18 - 501 have considered setting up or have already established their own business, but only 28% of those named making money as a main motivating factor for doing so. 60% of respondents who had already set up their own company or would consider it, did so to become their own boss, and 55% did so to obtain a flexible lifestyle. The research suggests that in future measures of business success may need to be widened to incorporate founding objectives, such as a better work life balance, due to the motivations of today’s entrepreneurs. The research was commissioned as part of the Orange Entreprenation Report, which examines the profile, location and key drivers behind entrepreneurialism in Great Britain. “With some companies being established to fit founders lifestyles, only using financial results to measure success may only tell half the story,” says Martin Stiven, VP of Business at Orange. “Some companies with small annual growth could be viewed as the most successful because they are enabling their founders and workers to maintain the lifestyle they set out to achieve at the start. It seems increasingly important that we measure more traditional targets such as sales, profit and growth alongside indicators such as meeting founding objectives and the lifestyle balance achieved by staff and bosses alike. “It is likely that technology will play a key part in supporting companies in achieving these ambitions. An overwhelming majority (85%) believe that communications technology, such as the internet and mobiles, has made starting or running a business from home easier, which is typically the first step towards a more flexible lifestyle,” adds Stiven. Orange also undertook additional research to identify potential hot spots of entrepreneurial activity, and found that while traditional hubs, such as London and the South East still exist, a successful business is just as likely to be founded in Aberdeen as it is in Bristol. Contributor to the report, René Carayol, UK business guru and CEO of Inspired Leaders Network, comments, “The 80s, 90s, and naughties [were characterised] by a feeling that making money was the thing to do. Entrepreneurs over the next 25 years will be less about making money and more about financial independence, where money plays a supporting role. Entrepreneurialism is changing; it’s legitimising itself as a profession.” Orange’s Entreprenation Report also reveals that people believe that communications technology and universal connectivity has played a critical role in levelling the entrepreneurial playing field. 77% of those surveyed agreed or strongly agreed that the advent of the internet and mobile communications has resulted in location being less important in determining the success of a business than ten years ago. And 79% agree that technology makes it easier to run a successful business. Martin Stiven concludes, “The research highlighted a positive attitude to entrepreneurialism across the country, whether you live in a rural hamlet or a major city. Mobile communication tools, such as broadband, mobile phones, laptops and Wi-Fi, now provide access to new contacts, new ways of thinking and new customers, so that you don’t have to live in the traditional heartlands of British commerce to be a success.”
The Ambassador Article May 2010 Ian Jeffers, Director, Princes Trust NI Discusses...... A 'Neet' Problem
This isn’t a typo. The government have created a short word that hides a massive problem. NEET is the overly simplistic way to refer to the growing number of people not in employment, education or training. In Northern Ireland there are over 52,000 young people who fall into this category. If we shorten it from Not in Employment, Education or Training to NEET it becomes catchy, easy to say and simple to forget. In truth it is a very ‘neat’ way to deal with a horrendous crisis. We are creating a lost generation. And we will all be paying for it for years to come. If we don’t invest today in our young people then we can’t complain in 5 or 10 years time that we don’t have the people with the right skills to fill jobs, or that our tax bill is too high because of more people needing increased medical and social welfare support. It’s tough enough to look after your own business at the moment before you start worrying about others. But I will argue that the NEET problem must be tackled today. It’s a social issue that needs a collaborative approach. The figures hide a stark truth – over 30% of young people who fall into this category believe that they have nothing to looking forward to. Many have suicidal thoughts and today in Northern Ireland we have thousands of young people who feel worthless. This is hardly the foundation for a strong economic recovery. A small amount of money invested in a young person to keep them engaged at school, provide a training opportunity or to help them set up their own business will save thousands of tax payers’ pounds in the years ahead. To support a young 15 year old who is at risk of exclusion from school can cost less than £250 thanks to The Prince’s Trust xl club. If they are excluded it will cost us, the tax payer, £15,000 . Keeping a young person in custody in Northern Ireland costs £81,340 whereas to train a volunteer to mentor a young offender to ensure they do not re-offend is £1,250 via The Prince's Trust 1:2:1 programme. All our young people deserve a chance to succeed. They should not be victims of budget cuts and cost reduction exercises. Our collective role in the months ahead is to make sure the young unemployed do not become unemployable. Ian Jeffers The Trust will support over 3,300 young people in Northern Ireland this year who are not in employment, education or training and make sure they have a chance to succeed. To find our more visit http://www.princes-trust.org.uk/
This is my first Ambassador Article and I want to start by commending Bill, Kevin and Philippa for bringing MLN back to life. It is especially important for me as a member of the SME business community that we have access to business insights such as those provided by the impressive line up of Champion Firms. I have been asked to comment on our recent success in the Best Companies Accreditation and Sunday Times Top 100 Best Small Companies to Work for 2010 List. This recognition comes at an exciting time for us at Whale as we see a stream of new products being launched over the next two years. Why is this recognition important to us? The best answer I can give is - good people deliver good results. And we have been able to provide the hard evidence to back this up! Despite the recession; Whale has started off 2010 significantly stronger than any previous year in the past 60 years. This result is a testament to the loyalty and support that all our employees have given the business especially during the recent tough economic conditions. The highlight for me is the commitment of our entire staff, who were both innovative and generous in both their ideas and their sacrifices to work with us through some very tough and difficult decisions during early 2009. Ideas on cost savings, improved efficiencies and even better working practices all flowed from our employees in every area and at all levels. It is a great encouragement to the leadership team as we believe this is in response to our policy of openness and transparency about the business and investing time and effort in building a well skilled and knowledgeable team. As a result of the Best Companies rigorous assessment and feedback process we readily recognise there is room for improvement and have some pointers to the areas we should tackle. That alone is tremendously valuable as it gives us a ‘fresh eyes’ view of where we are and where we need to be. Having recently increased the workforce by 30%, ensuring the values of the business are maintained will continue to be one of the greatest challenges for the Leadership team. Mike Mills, Chairman of Whale says ‘Very few companies achieve this accolade and it is a testimony to outstanding and open leadership in the business, coupled with the determination by all employees to succeed in very tough times.’ Munster Simms Engineering Limited, better known as their brand name Whale, is a key player in the leisure marine, caravan and shower drainage industries. The company specialises in the design and manufacture of water and waste products including manual and electric freshwater, bilge and waste pumps, Quick Connect plumbing systems, faucets, showers and accessories. Munster Simms combines innovative products with excellent customer service to supply manufacturers. The company exports internationally and has a worldwide distribution to retail network. Whale is an ISO certified company.
The Ambassador Article March 2010 Nikki McQuillan (Co Founder, The Streat) Discusses...... Local SMEs - 'Keep the Fire, Keep the Faith'
In my first article as an MLN Ambassador I want to emphasise the importance of the small business community and to encourage owners and managers to take a fresh look at their businesses.
You will have heard that the streat was acquired recently by the Henderson Group – after much agonizing by the senior management team. Emotionally, this was our business, but when we looked with fresh eyes at what we had achieved - and what the streat could now become, we could clearly see the potential for accelerated growth. As managers and leaders in a growing business the key message for us was to develop the ability to work ‘on the business’ and not just ‘in the business’. It’s just too easy to get absorbed in the demands of the day and take you eye off the bigger picture. Day to day management is essential but when I was preparing to speak at a Federation of Small Businesses event recently I was reminded of the key focus areas we continually developed and how these areas helped to improve the business daily… from a ‘helicopter’ approach as opposed to the ‘hands(and head!) in the coleslaw!’ 1. Customers are King…continually surprise and delight your customers…today’s best is only tomorrow's good. When we started out we had a vision to have the 42nd Streat on 42nd Street. It hasn’t worked out exactly as we planned as the 42nd Streat looks like it will be in Aberdeen! However, having our eyes on the horizon meant that we had the goal which was much larger than just a cafe in Belfast…and we will definitely pass the 42nd mark! With fresh eyes perhaps you might find a new horizon…so keep the Fire in your Belly and most importantly in trying times…keep the Faith.
All sectors of our economy have witnessed enormous change in the past year or so and you don’t need me to remind you of all the details. What hasn’t changed however; is the need to create a cohort of leaders capable of managing through the challenges and demands of difficult situations. I am less sure though, that these are unprecedented times. The nature or origin of the problem may be different but when we consider that our parents lived through World Wars and many of us lived through ‘the troubles’ the case that our current economic ills are somehow extraordinarily challenging is to miss the point. Leaders are required in every generation and when we reflect on the recent good times I am challenged with the question – “did we assume leaders will just emerge at best, or have we neglected our responsibilities at worst?” That challenge is for us all - whether we are heading for retirement or taking on our first managerial role. Have we developed ourselves and have we developed others? Of course I am speaking about well developed, professionally competent and capable leaders at all levels in our organisations - not those who have stumbled through somehow. Having recently been involved with forums at both local and national levels to consider this issue, it is clear that our current and emerging leadership cadre have yet to grab the need to continually challenge themselves to be better and to do better. Some years ago I was indoctrinated with the concept that “the need to take clear determined action to build management and leadership capabilities is the primary function of all people in a leadership position”. That’s why I’m delighted that MLN is continuing to take a lead in promoting this agenda and why I’m committed to the M & L cause. |
