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Context: Delivering support to businesses in the recessionary and post recessionary economic climate
Problem 1: Identifying Struggling Businesses
Problem 2: Finding them early enough. There are No Second Chances in a Recession!
Problem 3: Economic Impact on Key Business Segments. How badly have they been and what is the likelihood of Commercial Failure? Can Business Support can make a difference?
Problem 4: Policy Makers don’t have context to Make or Measure the Impact of Policy
Business Link had 100k company records in its database.
The companies had been assisted by Business Link over the last 20 months
The data captured was used to satisfy contract outputs and as such was very specific
We needed to increase the data set both in terms of size and data richness
Experian profiled Business Link data and found 536k businesses (both Ltd. And unincorporated) at location level in its National Business Database for the North West.
Business Link acquired the data from Experian. Each Experian record had in excess of 150 data characteristics (appends)
The extra data records allowed a significant level of analytics to be done. The data had access to classification systems (Yell and Thompson Directories) and allowed detailed segmentation
One of the Primary data attributes was “Risk Scores and Financial Performance data”
Failed/serious adverse info Administrator or receiver appointed, bankrupt proprietor, dissolved business
Maximum risk High value of unsatisfied CCJs, accounts overdue, start-up business with adverse data, proprietor with adverse data or maiden accounts show loss
High risk Large company with weak balance sheet, medium sized firm with very weak balance sheet, combination of above average risk features, start-up with adverse trading
Above average Large company with very weak balance sheet, medium to small firms with (high levels of credit search, payment difficulty, weak balance sheets), start-up firm without adverse information
Below average Large business with weaker balance sheet/modest loss, SMEs with steady trading, small firms with directors with good record, no adverse data
Low risk Well established, accounts filed, mid to large firms with £1m of assets and £5m of turnover, good record, directors with strong records
Minimum risk Large well established firms, strong balance sheets, low value of public information
Stratified response to the current economic climate – 2 Activity Levels
Business Link approach - The Rapid Response Framework 2
For light touch intervention activity targeted marketing campaigns sensitive to the issues a company with a worsening risk profiles score. – specialist telephone advice, email contact or web-based toolkits
For companies / groups facing significant problems more direct intervention activity through Target Adviser Teams or through Partner Organisation
Each activity making best use of Business Support products
Objective to engage with SME community demonstrating that BLNW is in a good position to support business through the ‘credit crunch ”.
Series of 11 events in Sub Regions to inspire and motivate Businesses to take action and encourage them to position themselves to survive & improve!
Held in partnership with Key Regional Business Support Stakeholder Organisations.
Aim to strongly affirm Key Differentiator of BLNW Quality Service Offering by associating BLNW Brand with recognised and respected Business Support Agencies.
Lancashire Telegraph launches campaign to support businesses
“TODAY the Lancashire Telegraph launches a major campaign to help businesses fight back against the recession” – BRAND ASSOCIATION
“New figures reveal that almost 4,000 East Lancashire businesses are staring into the financial abyss at a time of unprecedented economic hardship”. – TRUSTING OUR MESSAGE
“The campaign comes as figures from Business Link Northwest show that 14per cent of East Lancashire companies – 3,977 – are at maximum risk of failure”. – POSITIONING OURSELVES AS THE AUTHORITY ON THE SUBJECT
With more than 28,000 firms across East Lancashire, The Lancashire Telegraph and Business Link Northwest are looking to give them the help they need to ride out the recession. – THE HOOK
“Business Link research shows that…….” BRAND ASSOCIATION AND AWARENESS Blackburn with Darwen has the highest number of businesses at maximum risk – 15 per cent (1,198) of its 7,950 businesses. - GRANULAR DATA CONTEXT AND ENGAGEMENT
“The figures have been compiled by global credit management company Experian and have been built into an innovative Business Performance Index developed by the Business Link data analysis team” – BRAND ASSOCIATION.
“Small and medium size businesses are important because of the number of people they
employ. The Lancashire Telegraph’s campaign is immensely important too because unless people work together at a local and national level to do the best for East Lancashire businesses, we will
“The Lancashire Telegraph campaign is vitally important. It remains a truth that too many business people freeze when faced with difficulties and getting them to ask for
This monitoring allowed us to review the effectiveness of our activities and can be analysed regionally as well as by RES
This monitoring allowed us to review the effectiveness of our activities and can be analysed regionally as well as by RES
Each product had a different flag which will allow us to record the respective effectiveness of the different products available Each product had a different flag which will allow us to record
the respective effectiveness of the different products available
System allowed us to compare the performance of companies, that have had our support, with the rest of the economy on a like-for-like basis
System allowed us to compare the performance of companies, that have had our support, with the rest of the economy on a like-for-like basis
It enabled us to develop our products using and evidence based development framework
It enabled us to develop our products using and evidence based development framework
The BPI system allowed us to “Flag” the companies we assist and monitor their “improvement” over time
The BPI system allowed us to “Flag” the companies we assist and monitor their “improvement” over time