Osborne’s Autumn Statement: Good News for Entrepreneurs

I felt sorry for Shadow Chancellor John McDonnell when he approached the dispatch box today to respond to George Osborne’s Autumn Statement, our director Philip Salter writes in his latest Forbes column. Many of his planned rebuttals – on tax credits or police spending, for example – were dud.

“But entrepreneurs and business owners in general can breathe easy. Before the Chancellor stood up there were fears that Entrepreneurs’ Relief would be cut. There were also concerns that the Chancellor would try to force contractors and consultants onto payrolls if they work with a company for over a month.

“Instead, bolstered by an unexpected fillip of £27 billion in the underlying forecast, the Chancellor announced a hoard of new spending commitments.”

Read Philip’s article in full here.

Devolution of business rates: A welcome announcement

Philip Salter Director of The Entrepreneurs Network, comments on the devolution of business rates announced in today’s Autumn Statement:

“The Chancellor’s decision to give local councils full control of business rates is a welcome surprise announcement. Devolving rates will stimulate competition between councils and encourage local government to be more responsive to business needs. However, business leaders will need to be better buy brand ativan online engaged with local government to ensure councils are fiscally responsible. For example, city-wide mayors will be given the power to levy a business rates premium for local infrastructure projects, and as such businesses will need to make sure their views are properly voiced through their Local Enterprise Partnership.”

For more information, please contact:
annabel@tenentrepreneurs.org
07919 355290

Should you prioritise style or substance when pitching your business?

In his most recent Forbes column, our director Philip Salter asks whether style or substance matter more when presenting a business.

According to India Ford, body language expert and director of Talkbodylanguage, investors will be “unconsciously picking up on non-verbal communication,” searching for indications of confidence, credibility and trustworthiness. “These important traits can only be projected through your body language – it’s not what you say, but how you say it that matters,” she explains.

On the other hand, Elena Shalneva, a communications consultant, thinks content drives style. “If you get the message right, then confident and assured delivery will follow,” she tells Salter.

Both have plenty of advice for entrepreneurs preparing for the pitching stage. Read the article in full here.

Experiences of a disruptive entrepreneur

My business partner and I started working on Seedrs in 2009. Our mission then – as it is today – was to build a platform that would make it simple and straightforward for people to invest in businesses they believe in. These were primarily start-up, early-stage, and growth-stage but pre-public companies. At the time there was plenty of access, and plenty of ways to gain access, to public markets. But the private market of investing in growth businesses had traditionally been very opaque, exclusive and clubby, and had changed little since the Victorian era: i.e. groups of rich people getting together and writing cheques. That was the case in 1870 and it was the case in 2005.

We felt that there was a great opportunity to open the process up and make it a democratised asset class. At the same time we wanted to give entrepreneurs a new source of capital, so that they wouldn’t be entirely dependent on the very limited available friends and family or angel money. But we could also use fundraising to drive value for their business by building networks – by providing entrepreneurs with 200 or 300 people with a vested interest in their success. They could then leverage those networks commercially.

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Singapore: Still the best place in the world to do business

The World Bank’s annual Doing Business report has again placed Singapore in top position for doing business.

The UK came in sixth place, the US in seventh, but Blighty isn’t the best place to do business in Europe: that honour went to Denmark. Doing Business 2016 presents quantitative indicators on business regulations and the protection of property rights that can be compared across 189 economies – from Afghanistan to Zimbabwe – and over time.

In his most recent Forbes column, The Entrepreneurs Network’s director Philip Salter writes:

“It gets to the nitty-gritty of issues such as dealing with construction permits, getting electricity, registering property and trading across borders.

“The world is getting easier for entrepreneurs who want to start and grow a business. As consumers we will all benefit in countless ways, and this is what will eventually end the absolute poverty still plaguing this planet.”

Read the article in full here.

Why Britain needs High Growth Small Businesses

In a column for the Huffington Post, programmes director Annabel Denham points out that, more than setting up a company, the ability to scale is where the real value lies.

A new study from our founding supporters Octopus Investments reinforces this analysis. It identifies a group of 22,000 businesses, which have an annual turnover between £1m and £20m, and which achieve more than 20 per cent average turnover growth over a three-year period. Annabel writes:

“The employment figures alone buy ativan overnight delivery should be enough to make the government open its eyes: High Growth Small Businesses last year created one in three new jobs, despite forming less than 1 per cent of the 5.3 million companies in the UK. Almost 20 per cent of economic growth in Britain, measured as an increase in Gross Value Added, was from goods and services produced by HGSBs.”

Read more about the report’s findings here. Read the report in full here.

The UK’s first National Mentoring Day

There is a day to celebrate or commemorate almost everything. In the UK, for example, we have a national bean day, national potato day and national button day.

It’s easy to be cynical about these creative holidays, but today we have one to truly celebrate: Britain’s first National Mentoring Day, put together by Bircham Dyson Bell and the Rockstar Mentoring Group.

The day existing, however, is perhaps less important than what goes on around it. It will see a summit of mentors coming together to learn and celebrate. As The Entrepreneurs Network’s director writes in his Forbes buy ativan australia column:

“Mentoring is by its nature informal, so would benefit from more coordination, both for disseminating best practice and forming connections between mentor and mentee.

“Despite depictions to the contrary on shows like The Apprentice, starting and running a business involves significantly more cooperation than competition. Many of the best businesses are built on friendships with customers, suppliers, fellow entrepreneurs and mentors. I wish it every success and will raise a glass later to those who are helping guide the next generation of entrepreneurs.”

Read the column in full here.

High Growth Small Businesses are vital to our economic growth

In recent years, entrepreneurship policy has shifted its focus from start-ups to scale-ups, writes our director Philip Salter in Forbes.

There is logic to our latest obsession: unlike the US, the UK has a steadily growing stream of start-ups, so it makes sense that policymakers are glancing enviously at Silicon Valley’s giants, wondering when the next Google or Facebook will be created here in Britain. He writes:

“This new focus on scale-ups, gazelles and eventual unicorns seems sensible, but there is a stage between start-ups and scale-ups that I think might be even more important. In High Growth Small Business Report 2015, Octopus Investments identifies High Growth Small Businesses (HGSBs) – companies that are achieving over 20 per cent average annual growth in turnover quotecorner.com/online-pharmacy.html over a three year period, and with an annual turnover between £1m and £20m.”

Based on a survey of 500 HGSBs, the report comes up with a suite of solid policy proposals with the aim of getting 25 per cent more HGSBs within the next five years:

“If this government were to implement just half of the policy suggestions outlined int he report, it would go a long way to achieving its aim of ensuring the UK is the best place in Europe to start and grow a business. I’m going to push for the government to adopt them all though – after all, there is no reason the UK couldn’t be the best.”

Read the column in full here.

MassChallenge UK: Five leading entrepreneurs from the 2015 cohort

In his most recent Forbes column, the Entrepreneurs Network’s director Philip Salter speaks to five ambitious startup entrepreneurs to find out about their business, challenges, and plans for the future.

Read his interviews with Marco Del Lago (co-founder and CEO, CLARA Swiss Tech), David Hellard (co-founder, Zipcube), James Poulter (co-founder and CEO, Pronto), Weerada Sucharitkul (co-founder, FilmDoo), and Udi Liberman (co-founder, PayBox) in full here.

 

Is successful entrepreneurship genetic?

In his most recent Forbes column, our director Philip Salter writes on the role of genetics in the likelihood and success of entrepreneurship.

Speaking to Nicos Nicolaou, Professor and the GE Capital Chair of Mid-Market Economics at Warwick Business School and a world-leading expert on this subject, we learn first that:

“The heritability estimates for entrepreneurship are around 30-35 per cent. This actually means that environmental factors are actually much more important than genetic factors in recognising entrepreneurial opportunities and starting new businesses.”

And on the subject of whether buy ativan online australia entrepreneurial success is determined by genetics, Nicolaou tells us:

“Entrepreneurial success is not determined by genetics. It is crucial to emphasise that a genetic predisposition to entrepreneurship should definitely, unequivocally, not be confounded with genetic determinism. While genes may influence the likelihood of engaging in entrepreneurship, we are merely talking about likelihoods, and nothing more. Genes do not determine entrepreneurship.”

Read the article in full here.