Innovative engagement with the Small Business Charter Growth Voucher Programme at Southampton Solent Business School.

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1 Innovative engagement with the Small Business Charter Growth Voucher Programme at Southampton Solent Business School. Christine Fountain Assoc. Prof Stephen Brown Presentation Name

2 About the Small Business Charter The Small Business Charter originated following Lord Young s report Growing Your Business, which was aimed at bringing business schools, business and entrepreneurs closer together to deliver support for small businesses and drive local economic growth. We did it! Professor Georgina Andrews (centre) Professor Jenny Anderson (left) Ann Brine Lecturer Marketing (right) Delivered in partnership with the Association of Business Schools, and with the support of Lord Young and the Department for Business, Innovation and Skills (BIS), the Small Business Charter Awards offers a springboard to unlocking support and investment for students, start-ups and small businesses. The Small Business Charter was launched at an event at No10 on 5 th June 2014.

3 In this session: We will: Summarise our experience of engaging with this project. Highlight the benefits to business owners Outline the value of the programme to Southampton Solent University School of Business and Law. Demonstrate the value of the programme to the development of academic colleagues and the benefits which feed into the delivery of teaching.

4 Small Business Charter Award Southampton Solent Business School is one of only 20 universities and the only institution on the south coast to attain the Small Business Charter Award in May 2014, in recognition of the role it has played in helping to kick-start British enterprise. The Small Business Charter Award scheme of which Southampton Solent Business School is a trailblazer member of has already helped 4,700 students to find work placements in Britain s exciting micro-business and start-up sector. Small Business Charter business schools have directly helped over 8000 small businesses working with them through workshops, mentoring and other business support. Professor Georgina Andrews, Director of Southampton Solent Business School: This award recognises our excellent partnership working with regional business and enterprise, and highlights our growing influence on the development of the regional, national and international economy.

5 Small Business Charter Growth Vouchers Programme The Small Business Charter Growth Vouchers programme is a national programme being delivered by a consortium of universities led by Aston Business School Lord Young: Strategic advice is key to business success and I welcome the arrival of Southampton Solent Business School as a partner delivering the growth vouchers programme. With their support, more small businesses will be able to access the advice they need to succeed and grow, and create more jobs and opportunities.

6 The Programme Full Programme Content Running between January and June Free initial Diagnostic Workshop Then for successful business going into the full programme: Full programme consists of 7 modular workshops, 10 hours of one-to-one support from a business mentor, A series of 3 specialist workshops Opportunity to attend national networking events. Eligibility Applications open to anyone who: Owns a business registered in England Has fewer than 20 employees Has an annual turnover of less than 4 million or 3.2 million Is independent (i.e. no more than 25% owned by one or more external organisations) & has been actively selling goods and/or services for at least 12 months.

7 The Diagnostic Workshop Everyone who applied (who is eligible) will be invited to attend a free growth diagnostic workshop. This half day event is designed to help evaluate growth potential in small businesses, help business owners form a growth action plan under the guidance of business mentors, and to act as a networking event.

8 Business Model Canvas

9 The Random Control Trial Voucher Allocation This programme is a pioneering government research project and uses a Randomised Controlled Trial to allocate vouchers to a proportion of applicants. This means that after the Growth Diagnostic Workshop some participants will receive a Growth Voucher equivalent to take part in the full programme, and others will not receive a voucher. Whether or not they are allocated a voucher is a completely random process and not related to their business or what happened at the diagnostic workshop.

10 The 7 Workshops Review of growth opportunity competitor analysis tools Cash flow and general financial management Marketing strategies for small business Managing people HR strategies for a growing small business Process mapping understanding where I add value in my business Raising the finance for growth Planning next steps with a business mentor The 3 Specialist Workshops Social Media Law key employment law for SMEs, Intellectual Property Rights and company law for SMEs Key selling skills.

11 Some Feedback Get my Facebook page up and running - my work is often gained through word of mouth advertising. That I need to employ people to grow! Scoring matrix when interviewing prospective employees. Cover my arse so I don't get sued! That raising finance may be more cost-effective than I thought - I've always shied away from it but there may be tax advantages... Figuring out a concise pitch that will also help in networking. Also that I need to think about a proper business plan to focus my thoughts about my business! I've only done a rudimentary one to date. Thank you very much, overall I'm very much enjoying the course. Stephen Brown's examples really brought the topic to life in a fun and engaging way. Reduced fear of raising finance. Means to address some of the gaps in my resources going forward. I felt the two presenters worked very well together and were very knowledgeable. An ACAS Handbook for Small Firms was distributed to the attendees. This is really useful and should be included as part of the workshop material as a matter of course. I hadn't thought is necessary to create a business plan, and now it's at the top of my list. Also, I got a lot out of the elevator pitch section

12 Mentoring Each successful business has been appointed a specific mentor from our academic staff. This is mutually beneficial the businesses gains a fresh perspective and challenge, professional advice and support. The academic gains contemporary mentoring experience in a real business, they have insight and experience of a 2015 SME and the challenges this encompasses. This knowledge and understanding informs teaching and learning.

13 Quote from Claire Whitehead Camelid Veterinary Services It s business help that s personalised to me and my business. My mentor has enabled me to take an objective look at my business as it stands and to come up with a plan that will allow me to expand and improve turnover.

14 Claire s mentor: It is not for the mentor to say what is to happen. The business owner has their views and these have to be respected...you do need to be impartial and views need to be balanced, whilst trying to provide the advice and support that you feel is necessary. It is a balance that calls upon experience and knowledge from the past which is what the business owner is looking for. For me it has been a refresh of things I have done in the past when investigating and assisting businesses. It meant I had to get back in touch with a couple of old contacts and a couple of new contacts. It has brought me back up to date in terms of professional practice. Something more recent to be able to relate to within teaching and learning. David Moxon PGL Business

15 Authentic Experience The whole experience has reminded me about the need to apply our skills and stretch ourselves in the authentic business world. I find myself reading materials and reports on companies and products which would definitely have been off my radar. I have sought expert opinions from colleagues and business associates to help form opinions and pursue guidance. The whole process has been enjoyable for me because 1) I enjoy coaching; 2) I have been able to see positive results for the mentee; and 3) I have expanded my knowledge in aspects of business. I enjoy working with someone on a 1-1 basis on a real live issue is his whole livelihood. This is real and not an academic case study. How much more impact can you get? Mary White Senior Lecturer Leadership and Management. December Presentation 05 Name

16 Personal development and beyond My personal level Experience- Adds to previous mentoring experience. Knowledge- Developed my knowledge in relation to the business sectors I am mentoring in. Behaviours- Provided an opportunity to test further my ability to connect with individuals from different business backgrounds and be a credible mentor to them. Skills- Provided me with an opportunity to hone further my assimilation, analysis, active listening and general mentoring skills. Has really helped me formulate ideas on some of the models that the client uses, and made me really think about what I think about things - challenging my view as well. Business Mentee Level Has provided them with insights and different perspectives on their business and their business activities. Has provided them with a "sounding board", not just for ideas, but also allows them to re-orientate themselves. Running a small business can lead to disorientation- not knowing if you are where you should be etc. Have been able to provide some suggestions on networks and contacts. Has found it really useful working with someone who challenges his thinking, and looks from a wider perspective, Has benefitted most from having someone question and hence add a certain amount of rigour to his decision making Geoff Glover & Andrea Metcalf Lecturers - HRM

17 Realistic the emotions. The mentor: Attitude- Has made me feel very positive about being able to make a difference to business leaders who are struggling with many challenges. The mentee: Have been able to share their emotions as well as their practical business thoughts. How do you feel about where you are at now? Running a micro business can be a lonely and worrying occupation. Geoff Glover Lecturer HRM

18 Colleague Development 31 School of Business and Law colleagues took part in the delivery of the workshops, designing content, working with the businesses at the diagnostic as mentors, working alongside businesses as ongoing mentors. That s 31 people taking contemporary business experience and knowledge back into the classroom and into their learning and teaching! These activities build academic staff knowledge and experience.

19 Reputation We have engaged with over 70 SMEs in this project. We now have their contacts and they know we are here. Over 40 businesses went through the Diagnostic Workshops. This type of engagement grows the University's reputation as a practical place- one connected to the outside world and one which can add value in many ways. Geoff Glover

20 Summary In summary Southampton Solent School of Business and Law has greatly experienced from this programme. We have the opportunity to create ever tighter links between our university and businesses. This is a mutually beneficial relationship.

21 The Future

22 December Presentation 05 Name

23 Final Words Scott Rodgers, Dawn Works Ltd: It has been absolutely fantastic. The social media workshop was brilliant as there are things from it that I can apply straight away. David Scott, Phoenix Office Cleaning Ltd: It has been really good.... There are some things that I have come across before from the workshops, but there is a lot that I ve learnt too and that I can apply to my business tomorrow. The one-to-ones are where this scheme really stands out. James Tomalin, Aulos Acoustics:.. It has been very interesting and done exactly what I intended it to do, which is reignite my interest in growing my company. The process mapping part was particularly good and the social media session was great. Toby Winn, Amber Pumpkin: As well as running Amber Pumpkin, I m currently setting up Chompa. I ve managed to take away lots from the workshops for both businesses. There has been a lot to take in.; it would have been good to have a few more practical sessions. The mentoring is very useful. I was made redundant three weeks ago and it has felt a bit overwhelming. Mary, my mentor, has been brilliant and helped me through it. Claire Whitehead, Camelid Veterinary Services: It has been really good and has given me lots to think about. It has helped me focus on the business aspect, as I am primarily a clinician and so haven t really thought about the business side. I ve found it really useful and it has helped me think more on business themes and useful to look at novel ways to manage new tasks. I found myself really looking forward to it each time. December Presentation 05 Name

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