If you say the word ‘ Innovation’ to anyone their first reaction is likely to be ‘expensive.’ Talk to small businesses about innovation and their reaction is likely to be expensive R & D. Many people equate innovation with inventing a new product and usually equate it to unique product developments such as iPhone or iPad which would naturally cost hundreds and thousands of pounds.
However true innovation when applied to business need not be expensive and can be applied to almost any part of the business. Innovation can mean a new business process or a different way of engaging with customers . Reducing the number of processes in handling orders for instance is innovation. Going from paper invoices to electronic invoices is innovation. Many business have gone from a bricks and mortar type business to largely on line. This too is innovation.
Businesses that innovate tend to experience better growth, more profitability and by involving staff members in the process will have a happier workforce. And the process of innovation can be carried out in relatively short timescales. So by innovating business can reap the rewards quickly and move their business forward at the expense of their competitors.
If you want to transform your business through innovation contact Bob Francis on 07941 426 807 or at bob.francis@sgba.co.uk
Isn’t it time there was a little more joined up thinking in support for small businesses?
Why is money for enterprise not invested in areas where enterprise produces the best returns?
Today’s announcement of the second round of enterprise zone investment was disappointing for those who believe that this investment needs to be placed in areas where the best returns can be had. The government, in its wisdom, has agreed to the plans of a number of organisations for the creation of Enterprise Zones in a variety of areas. The majority of this investment is going to areas where arguably there is not the culture of enterprise and entrepreneurship.One enterprise zone that has been agreed is in Oxfordshire, David Cameron’s back yard!
And yet one of the most deprived areas of the country, believe it or not, is Bognor Regis, a town known for its long hours of sunshine and very high unemployment rates. The Coast to Capital LEP put forward a plan for the establishment of an advanced manufactiuring Enterprise Zone for this area and it was rejected.
On another note, another of the new business support operations, StartupBritain, is organising a bus tour around various regions to help encourage support and provide help and advice to potential start-ups in various parts of the country. Whilst in itself this appears to be a useful exercise, I am lost to understand why there will only be two visits to Surrey, Sussex and Hampshire areas but these are closed to the public at large. One of these is a visit to a college outside Brighton and the other is to an office of Nokia in Hampshire to help employees with their start-up plans. These counties have a greater number of start up businesses than anywhere else outside London, but again no real support.
Isn’t it time there was a little more joined up thinking in support for small businesses and to encourage entrepreneurship?
