SME Safari to Leicester

This week saw the latest SME Safari – to Leicester. As a reminder, these are day long visits that connect civil servants working on SME policy/programmes/products, to real-life founders in their trading settings. With thanks to the civil servants who attended and to the wonderful companies we met; Urban Apothecary London, members of Apparel & Textile Manufacturers Federation, SomeBrightSpark, and Micro-Fresh.

Key takeaways from the day:

• Business support as a growth stimulant: one of the businesses referred to having attended the Goldman Sachs 10k programme as ‘life-changing’ and ‘transformational’ for their company, whilst another credited international trade advice as having been the secret sauce to devising a global distribution strategy. Those who accessed government or private funded support pointed to its direct impact and benefits.
• The role of peers, Non-Execs, advisers: related to the above point, it was clear to see how the companies visited valued the advice of others. At one, we met the founders’ two advisers, at another heard how a sole founder turned to peers in a community whatsapp group to solve a sticky issue, and at another were told the Non Exec ‘was upstairs’ and giving growth advice based on his own prior experience of having run and built a similar business. Wherever we turned, it was good to see trusted advice was being sought as founders navigate business journeys. I referenced this from last month’s Warrenpoint visit, but the role of trade bodies is also cited as a source of support and representation.
• Prospect of public procurement: with central government intent on buying more from SMEs, I always want to know if SMEs will reciprocate and bid for contracts. There was a mixed response on this. One business, which is growing nicely with a base of solid corporate clients, did not have it on the to-do list but a group of manufacturers do see the opportunity to supply public orders and are now working on a potential joint approach to achieve this. If they succeed, it will diversify their order book and ensure on-time payment, with central government paying a majority of undisputed invoices within 5-10 days. To start on the path of selling to the public sector, set up a profile on the Central Digital Platform and search for contracts.
• High Street use, but not as we know it: as government also works on a High Street Strategy, there is much discussion of alternative uses for high street shops. The creative agency of the day, Some Bright Spark, has an idea for that! They have turned a former electricals shop into a ground floor office in which they host clients and events. Having a shop window is more than just functional – it got them seen and noticed by a major client who is still with them 6 years on! It’s a great use for lower and upper retail floors and I hope we can see more of this across the UK. Creatives want to work in a vibrant high street environment and the high street needs alternate uses.

There was so much more including an interesting angle on ‘lighter’ business models that I’m seeing of outsourcing and licensing as opposed to keeping all functions in-house, the landscape of effectively running a hybrid business, and how a business reacts and adapts when cheaper and offshore alternatives are available.

Suffice to say, all insights were heard and noted by attending civil servants and will inform thinking and design. For that, thank you again to those who give time and open up their trading spaces so decisions that impact small business can be made with input from small business.