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The challenge of change main pack
- 1. Thursday 31 October 2013
- 2. Today‟s programme 09.00 Welcome from your host Michael Taylor 09.05 Opening Remarks, Rt Hon Vince Cable MP 09.10 The Challenges of Change, Sir Andrew Stunell MP 09.30 The Changing NW Economy, John Ashcroft 09.50 Insights on Growth, Rob Turner 10.05 Taking up the Challenge – A SME story, Darren Westlake 10.30 Coffee break 11.00 Workshops 12.00 Building and Maintaining Momentum, Steve Black 12.30 Panel Discussion Audience/Panel Q&A 13.00 Lunch & Lunch and networking
- 3. The Challenges of Change Sir Andrew Stunell MP
- 4. The Changing NW Economy John Ashcroft
- 7. Help to Buy ... ... Leading Recovery
- 8. UK GDP % change year on year The UK Economy in Black and White JKA
- 9. UK GDP Q3 Growth up 0.8% 1.5% year on year quarter on previous year The UK Economy in Black and White JKA
- 10. UK GDP Q1 Components of growth 291 105 233 770 1000 156 % change year on year The UK Economy in Black and White JKA
- 11. UK GDP UK GDP (O) Index % change year on year The UK Economy in Black and White JKA
- 12. Manufacturing quarter on previous year The UK Economy in Black and White JKA
- 14. Construction quarter on previous year The UK Economy in Black and White JKA
- 30. Insights on growth Rob Turner GrowthAccelerator – Growth Observatory
- 31. Agenda • Introduction to the Growth Observatory • A growing evidence base • Insights on growth – What does a growth SME look like? – What opportunities are growth SMEs exploiting? – What barriers are growth SMEs facing? • Questions 31 Challenge of Change Version 1.0 31/10/13
- 32. Introduction to the Growth Observatory Support the identification of high growth SMEs Data analysis Support enterprise growth Horizon scanning Add value to evidence base Content generation Support the growth 'community' Applied insight Monitor effectiveness Sector insight Understand impact Local insight Analyse & understand what works & why Policy SME relevant content 32 Challenge of Change Version 1.0 31/10/13 Benchmarking Utilise insight of others
- 33. A growing evidence base Financial & key business data for c9,500 SMEs In-depth conversations around barriers & opportunities Business diagnostics & assessments Surveys with clients, investors & stakeholders Insights of 100+ Growth Managers & 1,000+ Coaches Indexed to wider secondary data sources 33 Challenge of Change Version 1.0 31/10/13
- 35. What does a growth SME look like? Age 7% 8% Less than 1 year 29% 17% 32% 19% 1 to 2 years 3 to 4 years 15% Over 10 years 31% North West 35 Challenge of Change Version 1.0 31/10/13 13% 5 to 10 years 29% England
- 36. What does a growth SME look like? Size 4% 13% 5% Start-up (less than 12 months) Micro < 5 headcount and ≤ £2 million Turnover or ≤ £2 million balance sheet 37% 46% 11% 36% Small < 49 headcount and ≤ £10 million Turnover or ≤ £10 million balance sheet 48% Medium < 250 headcount and ≤ £50 million Turnover or ≤ £43 million balance sheet North West 36 Challenge of Change Version 1.0 31/10/13 England
- 37. What does a growth SME look like? North West Manufacturing 10% Business services 10% 10% Manufacturing 9% 7% IT 6% Retail 4% Construction 4% Engineering 4% Engineering 4% Food and drink 4% Food and drink 4% Construction 3% Retail 3% Consulting 3% Software 3% Recruitment 3% Healthcare 3% Software Challenge of Change % IT 37 England Business services Sector % 3% Recruitment 3% Version 1.0 31/10/13
- 38. What does a growth SME look like? Geography 38 Challenge of Change Version 1.0 31/10/13
- 39. What opportunities are growth SMEs exploiting? 35% 31% 30% North West 27% 26% 25% England 25% 24% 20% 20% 18% 14% 15% 13% 15% 14% 12% 10% 10% 10% 4% 5% 5% 0% Expansion 39 Challenge of Change Diversification Service Version 1.0 31/10/13 Sales & Marketing Strategy Innovation Renew & Sustain-ability Skills & People
- 40. What barriers are growth SMEs facing? 60% 50% 49% 50% North West England 43% 40% 30% 39% 37% 28% 27% 23% 20% 10% 7% 9% 10% 9% 3% 3% 1% 2% 4% 4% 0% Skills & Staff 40 Challenge of Change Finance Sales & Marketing Strategy & Management Version 1.0 31/10/13 Innovation Competition & Premises & External Infrastructure Constraints Salaries Retention
- 41. Any questions?
- 42. Thank you Rob Turner T: 020 7728 2741 M: 075 8418 5371 E: rob.g.turner@uk.gt.com
- 43. Taking up the Challenge A SME Story Darren Westlake, Crowdcube
- 45. My challenges Raising finance Timing - pioneer Raising finance Spiritec Crowdcube 2000 1990 Discovered Internet 2010 ID Telecoms Raising finance Pivoting
- 46. The problem “Q1 2013 showed the lowest ever level of use of external finance by SME‟s” – SME Finance Monitor, Aug „13 “Access to finance is a “major barrier” to growth for more than one in five small companies” – FT, Mar ‟12 “Less than one in five SME‟s have attempted to raise finance in the last year – with 40 per cent of applications rejected” – RealBusiness, Sept „13
- 47. The solution What is Crowdcube? Crowdcube is the world‟s first and leading equity crowdfunding platform giving entrepreneurs a new way to raise investment; and.. …enabling everyday people to invest in exciting start-up and high-growth businesses in exchange for equity Fully authorised and regulated by the Financial Conduct Authority
- 48. The solution
- 49. Success so far £14.5 million Stage of Growth funded so far… >49,000 members £2,800 By Category £180,000 average investment average deal £1.9 million biggest deal £250,000 largest single investment Successfully funded deals 70+
- 50. Case studies
- 51. What are the benefits? New way to raise finance Financial return UK wide investor reach „Armchair Dragon‟ Easier to promote Support friends and family Cost effective Participation Marketing effect Lower/spread risk Crowd feedback Simple to invest
- 54. Break 11.00- 11.50 Workshops Financing Growth – Room 1 Innovation – Room 2 Business Development – Main Room
- 55. Building and Maintaining Momentum Steve Black
- 56. Elite Level Performance Building and Maintaining Momentum Growth Accelerator October 2013
- 57. Teams… British Lions Welsh National RFU Newcastle Falcons RFC Newcastle United FC Sunderland AFC Fulham FC Welsh National Netball Team Consultancies… Chicago Bulls New York Jets Australian National RFU New Zealand All Blacks The Black Bull
- 58. Companies… Siemens NatWest Adidas Puma Convergys Technogym David Lloyd Alexander Forbes Barclays Mercedes-Benz Nike Proctor&Gamble Inland Revenue Department of Pensions Frank Haslam Milan L.E.A, Northern Rock, John Lewis, Ryder HKS In Depth Studies… Sky Sports Desmond Media Group
- 59. “From testimonials and personal experience we have enough information to conclude that it is possible to design and live an extraordinary life” Jim Rohn
- 60. Go For It! Start an Epidemic of Enthusiasm…
- 61. “Never start trying to be better than anyone else but never cease trying to be the best that you can be” John Wooden
- 62. You‟ll have developed good habits and bad habits RECOGNISE THIS
- 63. You must have a genuine passion for what you do
- 64. Find out your strengths and weaknesses …and then play to your strengths!
- 65. Try to align yourself with a group of people who are positive, ambitious and not only want to succeed themselves but are genuinely happy for you to succeed
- 66. Right people… sitting on the right bus… in the right seats… at the right time!
- 67. Fuel the desire to try to continually improve
- 68. Consider everything on its merits Attach little weight to reputations or past-actions “Experience is only useful so much as the past is like the future!” Gary Hamel
- 70. In a well-managed team environment an individual gets the most reward from being the best team player they can be
- 72. Promote and expect collaboration Company-wide Network-wide Share Good Practice Share Enthusiasm Share Progress All has a very infectious positive effect
- 73. Inspire each other to be the best that we can be
- 74. “To accomplish anything worthwhile, you must pay the price” Vince Lombardi
- 75. Remember, The price of failure is nearly always more than the price of success “If it‟s to be it‟s up to me” Lou Getz
- 76. If you think its impossible, it isn‟t. If you think you know everything, you don‟t. If you think you‟re alone, you‟re not. Jim Rohn
- 77. “Producing the wrong thing to a high quality is pointless. Do things right and do the right things” Peter Drucker There are numerous paths to success but there is no right way to do the wrong thing
- 78. “Its not like we make fundamental changes to the way we do things all the time, but we do make tweaks” Allan Lyall, Amazon
- 79. “Determination is only the first step. It must be followed by hard work, a regime of mental exercise, and whatever it takes to bring out peak performance” Napolean Hill „Think and Grow Rich‟
- 80. “You can‟t have worthwhile work unless everyone is working toward a well understood and shared goal. But that‟s not enough. It matters how you reach the goal. You must be guided by values. You have to be proud of both the goal and how you get there” Ken Blanchard & Sheldon Bowles “Gung-Ho!”
- 81. “The main thing is to keep the main thing the main thing!” Stephen Covey – “First Things First”
- 82. “Keep it simple, but not simpler” Albert Einstein
- 83. Set goals… …that stretch you but are attainable… …and when you meet those goals set new ones!
- 84. “You can‟t introduce new practices without a solid foundation of integrity” Cohen and Roussel
- 85. Succinctly, “Everyone wants to go to heaven, but nobody wants to die” Joe Louis Remember, To accomplish anything worthwhile, you must pay the price
- 87. Thank you for attending
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