Content

There is a lot of talk about the need to support SMEs (in English that stands for Small and Medium Enterprises) who are the engine of growth for the UK economy.

 But what constitutes a small business?  I started to do some research and it depends who you ask and why you are asking. The Government statistics defines small as employing less than 50 staff and Medium fewer than 250.

Interestingly 99.5 per cent of all Norfolk businesses employ less than 200 staff with 85 percent employing less than 10. As an aside in public sector speak businesses employing less than 10 are defined as micro- a term disliked intensely by small businesses who fall into that category.

So does size matter? Well yes and no. If you are after government funding it matters a lot as if you don’t fit the number of employee and turnover criterion set by the different funders you do not qualify.

However what is more important to an individual business is their size in relation to their own sector. A firm of a given size could be small in relation to one sector where the market is large and there are many competitors, whereas a firm of similar proportions could be considered large in another sector with few players and/or generally smaller firms within it.

At the Chamber we feel is it not necessarily the size, shape and age of a business that matters as much as their attitude, although we do realise that the number of employees does often determine the structure of the business.

 Although a small business ourselves, employing 12 staff, Norfolk Chamber due to the nature of our business and the expectations of our members has many of the structures of a larger business i.e. accreditations such as ISO9001 and IIP. This combination of accreditations and versatility works for us as it is a differentiator.

What is clear is that our Norfolk Chamber smaller members are living up to their reputation of being dynamic and successful.  We asked the question recently to our members “What is particularly exciting about your business right now?” The answers came back loud and clear!

There are too many quotes to include them all but comments include  Liftshare: “Signing up some huge new clients like Vodaphone, Serco and nPower” Deltic Training: “Increasing amount of business overseas” Right Angle Events ” We are currently in a state of excellent growth and have taken on new personnel” Paul Robinson Partnership “The implementation of BIM technology and collaboration across all projects is a real step forward. “AFA Projects “Changing delivery methods – we recently delivered training in South Africa from our converted cow shed” Britannia Fire “Double digit growth in turnover and in profit” Tax Assist Direct “International expansion to USA Canada and ANZ” and there were many many more.

As the economy starts to show promise it is really great that Norfolk’s smaller businesses are alive and very much kicking. The future will continue to be challenging but there is no doubt this sector of our business community is up to the challenge.There is a lot of talk about the need to support SMEs (in English that stands for Small and Medium Enterprises) who are the engine of growth for the UK economy.

 But what constitutes a small business?  I started to do some research and it depends who you ask and why you are asking. The Government statistics defines small as employing less than 50 staff and Medium fewer than 250.

Interestingly 99.5 per cent of all Norfolk businesses employ less than 200 staff with 85 percent employing less than 10. As an aside in public sector speak businesses employing less than 10 are defined as micro- a term disliked intensely by small businesses who fall into that category.

So does size matter? Well yes and no. If you are after government funding it matters a lot as if you don’t fit the number of employee and turnover criterion set by the different funders you do not qualify.

However what is more important to an individual business is their size in relation to their own sector. A firm of a given size could be small in relation to one sector where the market is large and there are many competitors, whereas a firm of similar proportions could be considered large in another sector with few players and/or generally smaller firms within it.

At the Chamber we feel is it not necessarily the size, shape and age of a business that matters as much as their attitude, although we do realise that the number of employees does often determine the structure of the business.

 Although a small business ourselves, employing 12 staff, Norfolk Chamber due to the nature of our business and the expectations of our members has many of the structures of a larger business i.e. accreditations such as ISO9001 and IIP. This combination of accreditations and versatility works for us as it is a differentiator.

What is clear is that our Norfolk Chamber smaller members are living up to their reputation of being dynamic and successful.  We asked the question recently to our members “What is particularly exciting about your business right now?” The answers came back loud and clear!

There are too many quotes to include them all but comments include  Liftshare: “Signing up some huge new clients like Vodaphone, Serco and nPower” Deltic Training: “Increasing amount of business overseas” Right Angle Events ” We are currently in a state of excellent growth and have taken on new personnel” Paul Robinson Partnership “The implementation of BIM technology and collaboration across all projects is a real step forward. “AFA Projects “Changing delivery methods – we recently delivered training in South Africa from our converted cow shed” Britannia Fire “Double digit growth in turnover and in profit” Tax Assist Direct “International expansion to USA Canada and ANZ” and there were many many more.

As the economy starts to show promise it is really great that Norfolk’s smaller businesses are alive and very much kicking. The future will continue to be challenging but there is no doubt this sector of our business community is up to the challenge.

When it comes to the economy, it feels like rays of sunshine are breaking out from behind the clouds that have been parked over the United Kingdom ever since the financial crisis of 2008. As the British Chamber of Commerce (BCC) brand-new Q3 forecast suggests, growth is likely to be higher than anticipated over each of the next three years. Recent economic releases, from net trade to retail sales, show an uptick in our national performance. Barring business investment, nearly every indicator monitored in the latest Bank of England agents’ report is trending positive – mirroring the trends the Chamber Network first spotted in the Quarterly Economic Survey this spring.

So there are real, and increasing, reasons for Norfolk business to be cheerful. It’s not just a long spell of warm and summery weather, but a recovery in real world conditions, that underlies the latest trends in the economy. But we’re not completely out of the woods yet. There are a number of factors that we at the Chamber will continue to keep an eye on that could affect the scale and pace of our economic resurgence. As John Longworth Director General at the BCC has said, recovery is precisely the time when the political class must be most alert and attentive, because any slackening of their focus on growth could hurt our prospects of moving the economy from good to truly great. Some of the factors we’ll be watching carefully:

• International shocks. With the potential for conflict in Syria, German elections, and the never-ending Eurozone drama, events overseas could impact us here – from inflation and energy price spikes through to impacts on demand in our key export markets.}  
• The UK’s public finances. Don’t believe the political rhetoric on either side; at best, we’re treading water. The markets have been benign and accommodating to date, but there’s no guarantee this will continue over the medium-term.  
• Monetary policy. Mark Carney, the new Bank of England governor, chose to make his first major public speech at Derbyshire and Nottinghamshire Chamber  this week, and highlighted his commitment to forward guidance on interest rates and stability in monetary policy. Yet interest rates could rise faster than predicted if the recovery continues to gather strength. What’s more, there is an eventual reckoning to be had as quantitative easing is unwound and withdrawn from the market.  
• Business investment. As both our QES and the Bank of England’s figures show, businesses remain reluctant to undertake major investments. Amongst the new and growing, this may reflect tight credit conditions and discouragement.  Amongst established and larger companies, though, this is continued conservatism at a time of perceived uncertainty. Unless investment picks up, rebalancing may be some way behind.  
• Public investment. Our Westminster politicians have an innate ability to wobble at precisely the worst time, as behaviour over HS2 has demonstrated this week. Indecision and uncertainty on road, rail, energy and aviation projects could hurt our medium-term recovery prospects.  
• And finally, the UK’s trade balance. While Chamber exporters continue to power ahead in many markets across the world, particularly in services, we’re not seeing the kind of shift in the UK’s trade performance that meets market expectations (to say nothing of pushing the UK’s dire balance-of-payments track record into the black).

The fine balance between opportunities and threats makes our job at the Chamber complex, to say the least. But I am confident in saying that I feel better about the prospects for Norfolk businesses than for a considerable time. As a very wise person once said, “you can’t stop the waves, but you can learn how to surf”. Norfolk businesses are starting to hone their surfing skills – and we’re here to help.

Here’s an interesting quote from a man who knows a thing or two about marketing in the internet age. Pierre Omidyar, founder of eBay, said, ‘We have technology, finally, that for the first time in human history allows people to really maintain rich connections with much larger numbers of people’.

It’s obvious of course, and the vast majority of us now shop online, search for information there and connect with family and friends through the social media. At work we readily embrace the digital age, sending e mails every day, visiting websites and using computers, tablets and smart phones as simply tools of the trade.

But how often do we take a step back and ask ourselves if we’re really using the technology to do better business? In reality, and despite their sophistication, the digital and online opportunities that we have are media. No business would use what we now call the traditional media of press, radio and TV without a strategy. Identifying the audience you want to reach, getting the message right and requiring measurable results are prerequisites for planning.

It’s not that you have to become a geek, with the technical skills to write computer code, any more than you needed to be a skilled printer to place a press advertisement. It’s about knowing how to use the digital media to generate sales.

Do you for instance actively enhance your profile by planned on line activity? Do you target your e mail campaigns to ensure maximum returns? Is your company growing its database of contacts?

Aside from e mails and interaction with your website, the social media are now a vital element in the business marketing mix. By identifying the appropriate networks and using them strategically organisations can build brand awareness and create a dialogue with customers. 

Brand building doesn’t happen by accident however. SEO, the Search Engine Optimisation that ensures more people find you when they’re looking for your kind of products and services, is a critical part of a serious online strategy.

Most of us, at home and at work, are increasingly ‘savvy’ when it comes to the internet. But even now we’re capable of taking it for granted. When it comes to business we need to make sure that we’re using it to our advantage. To make them work for you requires a certain level of technical knowledge of course, but more importantly it needs an understanding of who your customers are, and how you can best interact with them. What are the words that will make them open your e mails? Are they part of the hugely significant 50% of online network users who subsequently took off line action? In other words, because they met you in a virtual place they then went to a real place to buy your product. The Chamber’s be better@online event taking place next week will answer many of my questions; I suggest you use it to help answer yours.

As Bill Schrader said, ‘Almost overnight the internet’s gone from a technical wonder to a business must’.

With not enough hours in the day, why should a business take the time and effort to increase their profile and engage locally, even if their main customer base is outside Norfolk?

There is much in the press about business confidence and how the lack of it can hinder the economy. I personally get a really positive feeling when I read about businesses that are recruiting, have a new contract or are involved in their local community.  I feel it is all our responsibility to realise the impact that good news stories have, not only on other businesses, but on our staff.  The more visible we can individually be the better for our local economy.

There is no doubt that is does take resource to celebrate success but the positive impact on your business will make it worthwhile.  Potential customers will become aware of you, current customers will feel smug that they are dealing with you, it will be easier to recruit new staff and your existing staff will love it!

There are many ways of achieving impact. Entering awards it one method which can seem pretentious but by looking at what your business has achieved, will both identify gaps, as well as help you celebrate success.  Although there can only be one winner the whole exercise can be very beneficial to the business.  You will only have to read the EDP Business Award 2013 shortlist supplement to appreciate the profile these businesses will have achieved from entering. 

At our B2B Exhibition on 17 October you can hear from 12 local ‘big thinking’ businesses who by being willing to share their stories, will increase their own profile.

Adding your good news stories or blogs to not only your own website but to third party websites and publications is also a great way to help increase your profile and make us all feed more positive. The EDP is always looking for good business stories for their publications and EDP24 website.  As is the Norfolk Chamber, good news stories added to our website are tweeted out to our 3000+ twitter followers and the best are include in our bi-monthly magazine.

Finally, get involved in your local community.  Your local school, charity and community all need your business help and expertise.  By getting involved you will not only increase your visibility but will be making a real difference to someone’s life.  It is also a great way to develop your staff and make them feel positive about your company at the same time. Norwich for Jobs for instance is a campaign to help halve Norwich’s youth unemployment.  Pledging your support, which does not commit you to anything further, strengthens the whole campaign and identifies you as a business that cares about young people.  It is not enough just to care, to really make a difference you need to be seen to care.

We all have a responsibility to make ourselves more visible. Confidence really does mean better business.

BIG THINKING empowers businesses with vision. It’s the attitude that drives smaller businesses to try out huge ideas, their refusal to accept lack of precedent tempered only by acknowledging that lessons can be learned from bigger players. Embracing the techniques and methods of sizeable companies into newer and smaller operations is key to BIG THINKING.

Equally, large organisations can learn from ‘the new kids on the block’, who can be inspirational to BIG THINKING big companies. Big or small, new or established, BIG THINKERS never set the default position; they always press the switch marked ‘power on’.

BIG THINKING is a concept enmeshed with the digital age. Now the smallest of start-ups can interact with the biggest of audiences, and the largest of corporations can target the narrowest of niches.

It takes BIG THINKING for a small business to use the new media to talk to the world. It takes seriously BIG THINKING for a big company to use the social media to talk to a single customer as an individual.

Companies of all sizes who embrace BIG THINKING know the dangers of simply ‘thinking big’. They know that for all the power of the internet you don’t build a brand or bolster the bottom line by simply putting up a website to say ‘look at us’. BIG THINKERS know that people buy from people; they network face to face, learn from research and then say ‘this is why you should buy from us’.

BIG THINKERS are people who never stop asking how, or why, or why not? They have the attitude that develops services and products that are right for now, and tomorrow.

And it’s about customers. BIG THINKING starts well before the sale, with a vision that’s then honed into a strategy. But it doesn’t end with the sale, because BIG THINKERS persist, with engagement, interactivity and service that retains customers and builds businesses.

If there is an ideal place to launch BIG THINKING it’s Norfolk. Birthplace of legendary brands like Colman’s, Start-Rite, Barclays and Aviva, all of the county’s commercial sectors pulse with innovation and excellence. Its BIG THINKERS have never been afraid to import the best of people and knowledge, and they have exported the best of products and services, sometimes having to overcome a cynicism about this county that others do not have to endure.

It’s the attitude that says we’ll do better business if we dare to innovate and develop our strategies creatively. We’ll do business better if we exchange ideas and realise that small and new businesses can inspire big and established ones, whilst in turn start-ups and tiny companies can learn from the experience of corporations.

Our Conference will have a stellar line up of speakers who exemplify the concept of BIG THINKING. You’ll hear how it’s worked for them. You’ll see how it can work for Norfolk’s businesses This is a Business Conference with Attitude.

‘Big Thinking’ is all about attitude. It’s the kind of thinking that makes small companies try big ideas. It’s about exchanging ideas, enabling smaller businesses to learn from big ones, and established companies to be inspired by the newer ones.

The concept is in tune with today’s digital age. Now the smallest of start-ups can interact with the biggest of audiences, and the largest of corporations can target the narrowest of niches. ‘Big Thinking’ is what drives a small business to use the new media to talk to the world and a big company to use the social media to talk to a single customer as an individual.

Big thinking businesses know that for all the power of the internet you don’t build a brand or bolster the bottom line by simply putting up a website to say ‘look at us’. They understand that people buy from people; they network face to face, learn from research and then say ‘this is why you should buy from us’. These are the people who never stop asking how, or why, or why not? They have the attitude that develops services and products that are right for now, and tomorrow.

And it’s very much about customer care. It starts well before the sale, with a vision that’s then honed into a strategy, but it doesn’t end there.  With the right attitude companies persist, with engagement, interactivity and service that retains customers and builds businesses.

It’s because businesses in West Norfolk are so committed to customer care that we’re particularly proud to be sponsoring that category in this year’s Mayor’s Awards.

We have outstanding businesses in West Norfolk and this concept, that spans the original vision through to after sales customer relations, is so right for them.

For the conference we’ve assembled a stellar line up of speakers who exemplify this dynamic concept. They’ll explain how it’s worked for them, and how it can work for Norfolk’s businesses.

This is a Business Conference with Attitude.

BIG THINKING, the Business Conference With Attitude 22nd November 2013, OPEN, Bank Plain, Norwich 9am – 1pm