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ARE BUSINESSES TOO BUSY TO LOOK FOR THE HELP THEY NEED?

As a judge in three recent local competitions seeking to support potential growth enterprises in the West Midlands, I was delighted to see the enthusiasm and pride the entrants had in their businesses.  We were presented with some interesting ideas and plans.

What did surprise me was the number of entrants overall.  Why didn’t more businesses apply?  I suspect that many enterprises who would have welcomed the support on offer did not even get to know about the opportunity.

As in business life in general, those who had found the time to stand back from day to day activities, look around and take the initiative were almost certainly rewarded by at least having the opportunity to compete.

It was clear that while many of the entrants fully recognised the need for marketing, business and mentoring support to achieve their growth plans, many were also unaware of where they could turn for help.  This certainly led to healthy discussions as to what is currently available.

The challenge, even more so than in the past, facing all business support partners – public and private sector, new and long established – is to reach the businesses that need their services.

In the case of finance for small businesses we might be reaching the position where supply can meet demand; the issue is becoming one of communication and of introducing businesses in need of finance to the appropriate providers – which could be a combination of sources.  Banks must improve their own knowledge in signposting to others, especially where they are unable to fully meet the needs of a business.

Whilst the providers have their part to play in planning communications campaigns that utilise a wide range of communications channels, entrepreneurs themselves need to keep their eyes and ears open to take full advantage of the help and assistance that is available to them.

January 23, 2012 11:12 am

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