SME Safari Manchester: a brilliant, resilient city

This week saw April’s SME Safari head to Manchester. As a reminder, SME Safaris are where civil servants travel to meet founders and entrepreneurs in their real-life trading setting, hence the name. It was the largest group of officials to date with 12 attending from a range of government departments and looking at topics from apprenticeships to tax. With thanks to the amazing businesses who met with us; Nordic Muse, KOMI Group, SimpsonHaugh Professor Vikas Shah MBE DL Curated Makers Creative Concern Stella Insurance BusinessDesk THE MANCHESTER GROWTH COMPANY LIMITED

Here are the key take-aways:

• Access to finance: a topic that comes up in every Safari. One business had taken loans from their point of sale provider which helped to develop their wholesale business, with loans re-paid within 6 months through sales. Every time I hear about this form of finance that is based on proven transaction data and a flexible payback model, I wonder how it can be applied wider across the economy. There was talk amongst the group as to whether this could be the way that businesses settle other commitments ie payment plans that see more paid in line with increased sales. Points were made around funding in the city region being directed not just at tech, but also at manufacturing sectors, and to reform a risk appetite that favours lending to businesses that have assets eg property as this disproportionally affects female founders who tend to start businesses in asset-light sectors.
• Skills on the move: talk of talent came up many times during the day. One business referred to the impact of Brexit on their ability to attract and retain international recruits which was important to their business and seen as a lost opportunity, whilst another business is considering offshoring some functions as their competitors are hiring lower cost resource in other countries. An overriding theme from all businesses met was the clear commitment to their teams; from the owner who paid staff before themselves when times were tough, to the business building a workspace to attract the brightest creatives, and the firm where 96% of leadership had been with them for over a decade. One could not question the desire from these business leaders to offer fulfilling careers and decent salaries so their teams can live and work well.
• Diversify to de-risk: something else that was repeated in each visit was how these entrepreneurs have diversified to strengthen their business and protect from shocks. This applied from retail with a mix of own-brand and wholesale items, to content creation with an expansion from publishing to talent management, and in architectural services a portfolio that spans concert halls to residential developments. As a business approach, it’s one on which they relied so when one client group paused, another part of the business could be relied upon.
• Pride in place: I think I have referenced this from every previous SME Safari; the incredible passion businesses feel for the place in which they are operating. One of my favourite quotes of the day was ‘We are very excited about growing from Manchester and being globally relevant.’ The businesses met have contributed greatly to the development of the city over the past 30 years with its ever-expanding skyline of new builds. They are serving the city’s communities, creating employment opportunities in new and existing sectors, and making natural connections with one of the attendees being the power behind Cyan Lines a 100-mile network of public walkways.

It was an incredible group of people to meet, and I left this brilliant and resilient city feeling the least we can do is take obstacles out of their way so they can continue to do their work.

On behalf of the group who attended, thank you for your time, and we are on it.

Emma