hgkc Blog

Whatever the Chancellor announces in the budget, one of the biggest challenges for the UK economy is growth, and for business that often means productivity. In recent years, UK business has had to deal with many challenges related to a series of significant socio-economic events impacting costs, productivity and growth. In a turbulent and uncertain market, how can small and medium-sized businesses (SMEs) not only survive, but also thrive?

Exiting a business takes time, but it can be a smooth transition or an arduous process depending on how well you’ve planned your exit strategy. How much you get from exiting your business is also greatly determined by the measures you have taken in preparation.

Leadership has never been easy, but for UK-based SME owners and directors, the current climate may be one of the toughest in living memory. The World Uncertainty Index has reached a new record high, reflecting global instability that seeps into every corner of business life. Wars, tariffs, inflation, and fractured geopolitics are now part of the operating landscape. Meanwhile, at home, social and cultural shifts are reshaping the workplace at a pace that few could have predicted.

According to a survey published recently, a clear majority of business founders believe that the UK is still a relatively easy place to launch a business, but only 13% of respondents think it is an easy place to scale.

Small businesses are the backbone of the UK economy, accounting for 99.9% of the business population and over half of private sector employment. Yet despite their vital role, many small firms are struggling to scale. While access to finance, regulation, and infrastructure are frequently cited barriers, one of the most under-recognised factors limiting small business growth is the underinvestment in people - particularly in leadership and management capability.

For many small business owners, selling their company may not be top of mind in the early days. The focus tends to be on survival, then sustainability, and eventually growth. But those who build with the end in mind from the earliest stages, position themselves to create businesses that are not only successful, but also valuable, transferable assets when the time comes to exit.

The Southwest has always been a region full of creativity, resilience and ambition. From its rugged coastlines and rural heartlands to its thriving towns and cities, it is a place where enterprise takes many forms — family-owned firms passed down through generations, innovative start-ups making their mark, growing companies eager to explore new horizons, and large companies leading the world in aerospace engineering and nuclear power generation.

At the end of July, the UK Government released ‘Backing your Business: Our Plan for Small and Medium Sized Business’. Key to this plan is the understanding that SMEs are the UK economy’s “engine room” and that “accelerating SME growth by just 1% a year could deliver £320 billion to the UK economy by 2030”.

Leadership is not a title, it’s a practice. It’s not about commanding others, but about bringing out the best in them—and in yourself. Whether you’re leading a small team or running a large business, improving your leadership is one of the most valuable investments you can make. But what does “better” leadership look like?