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”.
In the fast-moving world of UK SMEs, standing still is no longer a safe option. The business environment is changing too quickly — whether it’s customer expectations, technology, regulation, or supply chain dynamics. If you’re not actively growing your business, chances are you’re unintentionally slowing it down.
On Tuesday 25th March, hgkc hosted the latest in our series of roundtable discussions, this time focused on business growth. The session brought together a diverse range of businesses from across Bristol and the South West, spanning from ambitious start-ups to well-established companies. Despite their varying sizes, sectors and stages of development, the common theme was clear: all were grappling with the same fundamental challenge—how to navigate the next phase of business growth.
In today's fast-paced business landscape, growth isn’t just a goal—it’s a necessity. Whether through economic expansion, client acquisition, or technological advancements, businesses must continuously evolve to remain competitive. The integration of artificial intelligence (AI), automation, and digital solutions is transforming industries, offering businesses new opportunities to streamline operations, enhance efficiency, and foster sustainable growth.
In today’s fast-paced business environment, small and medium-sized enterprises face a range of challenges when it comes to adapting to the rapid advancements in technology. One of the most significant transformations impacting SMEs is the integration of artificial intelligence and automation into their operations. While these innovations offer promising opportunities for growth and efficiency, they also bring along a set of unique challenges that must be carefully navigated.
The entrepreneurial landscape in the UK is evolving rapidly, presenting multiple opportunities for aspiring business owners. As we move through 2024 and beyond, several key trends and factors are shaping the environment, making it an exciting time to embark on entrepreneurial ventures. This blog explores these opportunities, focusing on the diverse entrepreneurial landscape, increasing activity among non-white ethnic populations and immigrants, the emphasis on Sustainable Development Goals (SDGs), narrowing gender gaps, and a supportive ecosystem that fosters innovation and growth.
We can all agree that in today’s world growth is vital to every successful business, whether it is economic growth, growing a client list, or growing through innovation. Not only does growth help your business survive, it allows you to stand out in the market and thrive against your competitors.
On the 29th November, hgkc held their first roundtable in person since the pandemic. Located at Square Works Bristol the discussion focused on the upcoming recession and how the attendees could overcome the challenges they faced due to the crisis in Ukraine, Brexit and COVID-19.
hgkc Director and co-founder Peter Quintana facilitated the event and was joined by guest speakers Paul Netto, founder of visionary accountancy practice Equifino, Sam Talby, insolvency practitioner from Undebt, and Kim Jones, hgkc Director, co-founder, and innovation expert.
Due to the pandemic, the world has embraced the digital far quicker than anyone predicted. The move for many businesses to digital has helped to lower costs and improve relationships between the organisation and its consumers. Embracing digital transformation will affect the values, behaviours, and culture of the business, however, failing to embrace digital will mean your company does not change at the same pace as the world, and you will lose customers as a result.
We have said before that innovation is ‘something different that creates value’ taken from Eat, Sleep, Innovate by Scott D. Anthony, Paul Cobban, Natalie Painchard, and Andy Parker. So, why is your innovation not working? We at hgkc have compiled together a list of what might be stopping your innovation from generating value.
In today’s world, we see so many advances and changes in technology that the way we work and run our business is ever changing and with the coronavirus pandemic things have been forced to advance a lot faster than we ever thought. Working from home and the inability to see people face to face has forced many companies to start to rely on technology to run their business. Those that have failed to adapt have not survived COVID-19 and those that have are finding new and more efficient ways to work.
One of hgkc’s expert consultants, Peter Quintana has been recently certified in Market Opportunity Navigator and uses it to help our clients.
Innovation is ‘something different that creates value’ and businesses need to invest in their people and their innovations to grow and succeed in their objectives. However, some companies struggle to innovate and find it difficult to solve the issues they face.
Since the COVID-19 pandemic the way people work has changed. Home working has become the new norm and has affected the way business leaders manage their teams and how they innovate. However, there can be many advantages to remote working when it comes to your innovation using technology and collaboration practices. Many businesses have struggled because they have attempted to transfer the processes and methods they used when working in office, rather than adapting to the new environment.
No matter what type of innovation your business undertakes, you need to ensure that every member of your team has the opportunity and tools to generate creative and innovative ideas. As business leaders, you need to nurture innovative behaviour and help your employees feel confident enough to share their thoughts and give them the freedom to develop and research these ideas. Introducing some simple techniques into team meetings and everyday activity is a good starting point.
Who knows? Someone may have an idea that completely changes your business for the better.
When innovating it is essential that you protect your creative and unique ideas. Without protection your innovations can be stolen by competitors or copycats. Intellectual Property rights enable you to protect your innovations and understanding your protection options allows you to choose the best form of protection for you.
There are many factors that can affect your business and innovation. In this blog I am going to be looking at the PESTLE analysis, focusing on external factors that can heavily affect your business and therefore your innovation.
When it comes to innovation, at hgkc, we use the Three Horizons of Growth model with our clients. This is a concept developed by McKinsey that helps businesses focus their attentions between running their business today and innovating for the future. The framework helps you focus on your innovation and growth helping you to concentrate on executing already existing business processes whilst continuing to develop new capabilities for the future of your company.
Our expertise is in getting to the heart of you and your business. We find the right advice when you need it. We add clarity and focus. We help keep you on track, especially when it's tough.
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