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Breaking down the barriers to SME business growth – It’s all about the facts

Now, more than ever, it is critical that government policy and regulation supports aspirational, growing companies by providing a favourable business environment, access to markets and affordable finance, and low friction regulatory controls and processes. In order that government and business can work together, we need to understand the key factors that facilitate economic success for scaling businesses, in clear and specific terms.

by Elizabeth Vega,  Group CEO Informed Solutions, Cabinet Office Small & Medium Business Panel Member & Chair of the Meet the Buyer Working Group, 2018 Digital Leader Founder Award Winner, 2018 Queens Award for Enterprise: Innovation Winner, DIT Northern Powerhouse Export Champion, ScaleUp Institute ‘Access to Markets’ Committee Member

We are living in uncertain times; politically, economically, environmentally and from a societal perspective.  The challenges we face are significant.  As the Group CEO of a scale-up business that is exporting and growing internationally, I also know that wherever there are challenges, there are also opportunities.

The UK’s strengths, competitive advantage and expertise are most powerfully reflected in successful scale-up companies: the entrepreneurial drive and passion to build up a business; the commitment and perseverance to succeed; investment in innovation and new capability; creating new, skilled, well paid jobs; a growing focus on purpose as well as profits; the need to develop operational models that are elastic, resilient and sustainable; a DNA that adapts and responds quickly to new market opportunities and buyer needs; the ambition to export and grow internationally.

The challenge of empowering an ecosystem of scale-up companies is vital for a nation’s short, medium and long-term economic success; especially in an increasingly competitive global marketplace within which the UK wants to maintain its status as a nation of significance.

Now, more than ever, it is critical that government policy and regulation supports aspirational, growing companies by providing a favourable business environment, access to markets and affordable finance, and low friction regulatory controls and processes.

In order that government and business can work together, we need to understand the key factors that facilitate economic success for scaling businesses, in as clear and specific terms as possible.

Data and insights provided by SMEs and scale-up businesses will lead to stronger and better articulated proposals to government regarding what more can be done to support business growth.  This data also helps government make more informed and effective policy decisions, which can incentivise investment whilst lowering unnecessary barriers, overheads and friction for growing businesses.

This is a crucial moment for the UK's scaling companies and we need to make our voices heard.  The Scale-Up Survey, now in its sixth year is growing in influence and importance because it assembles the crucial data and insights that positively influences government, public and private sectors by helping them better understand and support growing businesses.

The deadline for completion of the Scale-up Survey is 2nd October 2019.

The results of the 2019 Scale-Up Survey form a central part of The ScaleUp Institute’s Annual Review, which will be published in November 2019.

Informed Solutions has already taken part in the Scale-up Survey and I urge all ambitious growing SME businesses to also contribute:   http://bit.ly/ScaleUp19c44

 

 

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