By James Caan*
2015 is the year of the entrepreneur and one for small businesses to prosper, according to yesterday’s Autumn Statement and I totally agree. Innovation has been on everyoneâs lips lately and quite rightly, with the outburst of new small business excellence helping to accelerate economic growth by pursuing their dreams.
Weâre witnessing a real shift in how people are communicating and talking about the economy and businesses in general. The term âentrepreneurâ and the perceptions around it have changed for the better, in the past, being an entrepreneur stood for something which seemed unattainable; it was a finished product â a business owner who had made their money and was already successful and wealthy but this isnât the case anymore. Entrepreneurship is celebrated and the entrepreneurs of our generation are held as heroes in their communities proving there really is a drive to back people with passion.
The recession hit small businesses hard and many of us have been quite shy and retiring. Business is no plain sailing and of course, itâs still hard out there but itâs great to see things are looking up and small businesses are getting the support and acknowledgement they deserve.
Yesterday, the Chancellor announced in his Autumn Statement that the âThe UK has the most entrepreneurial economy in Europeâ â this is exactly the kind of positive messaging that all business owners big and small are very happy to be hearing. At last, we are welcoming a confident approach to our economy without the constant reminder of a WARNING: RECESSION! headline discouraging us and our customers. During my 30 years in business, I have never seen entrepreneurial development like this, at start up loans alone in two years we have helped fund 24,000 startup businesses and will not be stopping any time soon. Government and communities are recognising the contribution of entrepreneurs and small businesses and are acknowledging the contribution they make to the economy and in local communities. Thatâs why new moves around Entrepreneursâ Relief and the ÂŁ500m of new bank lending to SME’s announced yesterday are so welcomed!
Small businesses and anyone with an innovative idea must embrace this opportunity and ride on the crest of this rise in support and excitement around startups. Campaigns like this weekendâs Small Business Saturday capture this excitement perfectly. Local communities want to rally around and support you, so why not use this platform and opportunity to reconnect with your customers or try that ânew ideaâ youâve been mulling over but havenât had the confidence to market yet.
My advice to you is think about ways to develop new ideas and take advantage of the help and support available to you, make use of the business rates reduction or look into exporting, with the new support announced this week. Remember, youâre not alone! The creation of innovation hubs across the country, startup funds, support websites and mentor programmes are endless; there has never been a better time to startup, grow or expand your business.
There is a lot of rhetoric around supporting small businesses at the moment and you canât help but feel the mood change for the better. I encourage all small business owners to utilise this optimism and platforms like Small Business Saturday to shine and seize the moment! Be part of the movement and take your business to the next level while your audience are most susceptible to welcoming change.
James Caan – InfluencerÂ
Serial Entrepreneur and Investor in People with Passion
