Can small business make a big impact?
By Ruth Ward, Managing Director, Rewired PR
Apparently, a recession is a good time to start a small business. Customers are looking to shop around, the market is flooded with exceptional talent, even the cost of office space and equipment can be haggled with.
Small businesses, micro organisations and freelancers prevail in the creative sector, and in the current climate a difficult job market has resulted in an increasing number of start-ups and self-employed professionals.
So what impact can small creative businesses have on the economy?
Having worked for large public bodies and SMEs, I'd argue that being small means you stay agile, and adapt quickly to meet market needs. The entrepreneurial spirit remains strong in small companies. You will take more risks, try new approaches and look out for wider opportunities - something which larger firms find harder to do, particularly in difficult economic times.
Small companies provide fantastic training grounds for new talent. School leavers and graduates looking to get their foot on the ladder will gain hands-on experience and a real insight into the workings of a business. It's not often you'll see a trainee chained to the photocopier in a small creative company. This in turn helps to support a cycle of entrepreneurship, and develops a workforce that thrives on innovation.
Digital technology has transformed the ways in which businesses can connect with each other, and their clients. Digital has fostered a spirit of collaboration, without geographical boundaries, and small companies and freelancers increasingly work together to develop new projects and products.
From the small business owners and freelancers that I speak to, confidence in the future remains high. It could just be that this spirit of innovation and entrepreneurship is exactly what the economy needs to get started.
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David Bailey - Prof David Bailey, Coventry University Business School
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Stuart Pemble - Construction Lawyer, Mills & Reeve
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John Clancy - Birmingham City Councillor and director of mediafuturesalert.com and justliteracy.com
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John Samuels - Professor of Business Finance, Birmingham Business School
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Chris Tomlinson - Chris Tomlinson is the founder of social media and online PR agency Friend (frienddigital.com)
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Andrew Whitehead - Senior partner at law firm SGH Martineau, leading the firm's Energy & Climate Change practice.
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Keith Gabriel - A Birmingham-based PR Account Manager
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Beverley Nielsen - Lecturer, Design Management, at the Birmingham Institute of Art & Design, BCU
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Mike Loftus - Director of News from the Future Ltd. Writing on the trials of setting up your own business
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Richard Halstead - Midlands region director for EEF, the manufacturers organisation.
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Karl Edge - partner at KPMG in Birmingham, specialising in automotive, manufacturing and house building sectors.
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Peter Owen - Managing director for construction firm Willmott Dixon Midlands.
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Doug Mahoney - International Trade Director at UK Trade & Investment in the West Midlands.
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Dr Steven McCabe - director of research degrees for Birmingham City Business School.
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Francis Greene - Professor of Small Business and Entrepreneurship, at the University of Birmingham.
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Alan Gilmour - Director at Cogent Elliott, experienced in marketing, brand development and customer relationship management.
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Great piece!
Been a new small start up itâÂÂs a message I try to tell myself and others almost every day :)
Small does not always mean less either, having worked in a big agency for years myself, I can now bring these skills to a smaller personal team setup and offer the customer the cost saving, without a sacrifice in quality.
I think the versatility and quick adaption of new trends etc is the small business' greatest asset. Big Companies can often suffer from analysis paralysis when trying to take on new systems, strategies, trends etc.
Entrepreneurial spirit in Birmingham is very strong with a lot of clued up people getting involved with and creating some great projects.
It's all about listening to your clients, future clients and their needs. The businesses that react quickly are the ones that will capture the market and be around at the end of the recession.
In the PR photography market Professional Images is always listening and providing a consistently evolving service reflecting client's needs.
Good article. I speak to many local Birmingham small businesses, and its clear there is a major dividing line between businesses who are using online services (digital technology) to create a loyal following of customers, increasing demand and driving sales for their products and those who have no idea of these web services. The Entrepreneurial spirit is definately alive and kicking, but if we can help to educate our Entrepreneurs on how the online world can possibly add to their off-line activities - they could possibly be able to increase their custimer base way beyond the West Midlands.
Good article. I speak to many local Birmingham small businesses, and its clear there is a major dividing line between businesses who are using online services (digital technology) to create a loyal following of customers, increasing demand and driving sales for their products and those who have no idea of these web services. The Entrepreneurial spirit is definately alive and kicking, but if we can help to educate our Entrepreneurs on how the online world can possibly add to their off-line activities - they could possibly be able to increase their custimer base way beyond the West Midlands.