Thursday 31 October 2013
The challenge of change main pack
Nov 12, 2014
View the slides from The Challenge of Change, held at Media City UK on 31st Oct.
Presentations from:
Sir Andrew Stunell MP
Dr John Ashcroft, pro.manchester
Darren Westlake, Crowdcube
Rob Turner, Growth Observatory
Steve Black, International Rugby Coach
Presentations from:
Sir Andrew Stunell MP
Dr John Ashcroft, pro.manchester
Darren Westlake, Crowdcube
Rob Turner, Growth Observatory
Steve Black, International Rugby Coach
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Transcript
Thursday 31 October 2013
Today’s programme
09.00 Welcome from your host Michael Taylor
09.05 Opening Remarks, Rt Hon Vince Cable MP
09.10 The Challenges of Change, Sir Andrew Stunell MP
09.30 The Changing NW Economy, John Ashcroft
09.50 Insights on Growth, Rob Turner
10.05 Taking up the Challenge – A SME story, Darren Westlake
10.30 Coffee break
11.00 Workshops
12.00 Building and Maintaining Momentum, Steve Black
12.30 Panel Discussion Audience/Panel Q&A
13.00 Lunch & Lunch and networking
The Challenges of Change
Sir Andrew Stunell MP
The Changing NW Economy
John Ashcroft
Help to Buy ...
... Leading Recovery
UK GDP
The UK Economy in Black and White JKA
% change year on year
UK GDP Q3
quarter on previous year
The UK Economy in Black and White JKA
Growth up 0.8% 1.5% year on year
UK GDP Q1 Components of growth
The UK Economy in Black and White JKA
% change year on year
Manufacturin
g
Production
Constructi
on
Distrib
ution
Hotels & Le
isure
Transp
ort
Business
Services
and Finance
Total Service
s
GDPGDP ex oil
and gas
105 156
291 233 1000770
Government
and other
UK GDP (O) Index
Trend Rate 2.9%
Trend Rate 1.1%
The UK Economy in Black and White JKA
% change year on year
UK GDP
LTR 2.4%
Output Gap11.9%
Manufacturing
quarter on previous year
The UK Economy in Black and White JKA
Construction
quarter on previous year
The UK Economy in Black and White JKA
Rob Turner GrowthAccelerator – Growth Observatory
Insights on growth
Challenge of Change
Version 1.0
31/10/13
• Introduction to the Growth Observatory
• A growing evidence base
• Insights on growth– What does a growth SME look like?– What opportunities are growth SMEs exploiting?– What barriers are growth SMEs facing?
• Questions
Agenda
31
Challenge of Change
Version 1.0
31/10/13
Introduction to the Growth Observatory
32
Support the identification of
high growth SMEs
Analyse & understand what
works & why
Support the growth
'community'
Applied insight
Data analysis
Horizon scanning
Content generation
Sector insight
Local insight
Policy
SME relevant content
Support enterprise
growth
Add value to evidence base
Monitor effectiveness
Understand impact
Benchmarking
Utilise insight of others
Challenge of Change
Version 1.0
31/10/13
A growing evidence base
Financial & key business data for c9,500 SMEs
Indexed to wider secondary data sources
Insights of 100+ Growth Managers & 1,000+ Coaches
Surveys with clients, investors & stakeholders
Business diagnostics & assessments
In-depth conversations around barriers & opportunities
33
Insights on growth
Challenge of Change
Version 1.0
31/10/13
8%
17%
15%
31%
28%
North West
Less than 1 year
1 to 2 years
3 to 4 years
5 to 10 years
Over 10 years
What does a growth SME look like?
Age
35
7%
19%
13%
30%
32%
England
Challenge of Change
Version 1.0
31/10/13
13%
46%
37%
4%
North West
Start-up (less than 12 months)
Micro < 5 headcount and ≤ £2 million Turnover or ≤ £2 million balance sheet
Small < 49 headcount and ≤ £10 million Turnover or ≤ £10 mil-lion balance sheet
Medium < 250 headcount and ≤ £50 million Turnover or ≤ £43 million balance sheet
What does a growth SME look like?
Size
36
11%
48%
36%
5%
England
Challenge of Change
Version 1.0
31/10/13
What does a growth SME look like?
Sector
37
North West % England %
Manufacturing 10%Business services
10%
Business services
10% Manufacturing 9%
IT 7% IT 6%
Retail 4% Construction 4%
Engineering 4% Engineering 4%
Food and drink 4% Food and drink 4%
Construction 3% Retail 3%
Consulting 3% Software 3%
Recruitment 3% Healthcare 3%
Software 3% Recruitment 3%
Challenge of Change
Version 1.0
31/10/13
What does a growth SME look like?
Geography
38
Challenge of Change
Version 1.0
31/10/13
What opportunities are growth SMEs exploiting?
39
Expansion Diversification Service Sales & Marketing
Strategy Innovation Renew & Sustain-ability
Skills & People
0%
5%
10%
15%
20%
25%
30%
35%
24%
10%
13%
25%
12%
20%
4%
10%
26%
14% 14%
31%
18%
27%
5%
15%
North West England
Challenge of Change
Version 1.0
31/10/13
What barriers are growth SMEs facing?
40
0%
10%
20%
30%
40%
50%
60%
28%
23%
43%
50%
7%
10%
3%1%
4%
37%
27%
39%
49%
9% 9%
3% 2%4%
North West England
Any questions?
Taking up the Challenge A SME Story
Darren Westlake, Crowdcube
My challenges
Spiritec
1990 2000 2010ID Telecoms
Crowdcube
Raising finance
Raising finance
Raising financeTiming - pioneer
Pivoting
DiscoveredInternet
“Q1 2013 showed the lowest ever level of use of external finance by SME’s” – SME Finance Monitor, Aug ‘13
“Access to finance is a “major barrier” to growth for more than one in five small companies” – FT, Mar ’12
“Less than one in five SME’s have attempted to raise finance in the last year – with 40 per cent of applications rejected” – RealBusiness, Sept ‘13
The problem
What is Crowdcube?
The solution
Crowdcube is the world’s first and leading equity crowdfunding platform giving entrepreneurs a new way to raise investment; and..
…enabling everyday people to invest in exciting start-up and high-growth businesses in exchange for equity
Fully authorised and regulated by the Financial Conduct Authority
The solution
Success so far
£14.5 millionfunded so far…
£250,000largest single investment
>49,000members
70+£1.9 million
biggest deal
£2,800average investment
Successfully funded deals
£180,000average deal
Stage of Growth
By Category
Case studies
What are the benefits?
New way to raise
finance
UK wide investor reach
Easier to promote
Cost effective
Marketing effect
Crowd feedback
Financial return
‘Armchair Dragon’
Support friends and family
Participation
Lower/spread risk
Simple to invest
Future challenges
2013 2020
Crowdcube
Scaling
Internationalisation
Thanks! Questions?
@Crowdcubewww.crowdcube.com
Break
11.00- 11.50 Workshops
Financing Growth – Room 1
Innovation – Room 2
Business Development – Main Room
Building and Maintaining Momentum
Steve Black
Elite Level PerformanceBuilding and Maintaining Momentum
Growth AcceleratorOctober 2013
Teams…British LionsWelsh National RFUNewcastle Falcons RFCNewcastle United FCSunderland AFCFulham FCWelsh National Netball Team
Consultancies…Chicago BullsNew York JetsAustralian National RFUNew Zealand All BlacksThe Black Bull
Companies…SiemensNatWestAdidasPumaConvergysTechnogymDavid LloydAlexander ForbesBarclaysMercedes-BenzNikeProctor&GambleInland RevenueDepartment of PensionsFrank Haslam MilanL.E.A, Northern Rock, John Lewis, Ryder HKSIn Depth Studies…Sky SportsDesmond Media Group
“From testimonials and personal experience we have enough information to conclude that it is possible to design and live an extraordinary life”
Jim Rohn
Go For It!Start an Epidemicof Enthusiasm…
“Never start trying to be better than anyone else but never cease trying to be the best that you can be”
John Wooden
You’ll have developed good habits and bad habitsRECOGNISE THIS
You must have a genuine passion for what you do
Find out your strengths and weaknesses …and then play to your strengths!
Try to align yourself with a group of people who are positive, ambitious and not only want to succeed themselves but are genuinely happy for you to succeed
Right people…
sitting on the right bus…
in the right seats…
at the right time!
Fuel the desire to try to continually improve
Consider everything on its merits
Attach little weight to reputations or past-actions
“Experience is only useful so much as the past is like the future!”
Gary Hamel
Create the best possible working environment for all
In a well-managed team environment an individual gets the most reward from being the best team player they can be
TogetherEveryoneAchievesMore
Promote and expect collaboration
Company-wideNetwork-wideShare Good PracticeShare EnthusiasmShare Progress
All has a very infectious positive effect
Inspire each other to be the best that we can be
“To accomplish anything worthwhile, you must pay the price”
Vince Lombardi
Remember,The price of failure is nearly always more than the price of success
“If it’s to be it’s up to me” Lou Getz
If you think its impossible, it isn’t.
If you think you know everything, you don’t.
If you think you’re alone, you’re not.
Jim Rohn
“Producing the wrong thing to a high quality is pointless. Do things right and do the right things”
Peter Drucker
There are numerous paths to success but there is no right way to do the wrong thing
“Its not like we make fundamental changes to the way we do things all the time, but we do make tweaks” Allan Lyall, Amazon
“Determination is only the first step. It must be followed by hard work, a regime of mental exercise, and whatever it takes to bring out peak performance”
Napolean Hill ‘Think and Grow Rich’
“You can’t have worthwhile work unless everyone is working toward a wellunderstood and sharedgoal. But that’s not enough. It matters how you reach the goal. You must be guided by values. You have to be proud of both the goal and how you get there” Ken Blanchard & Sheldon Bowles “Gung-Ho!”
“The main thing is to keep the main thing the main thing!”
Stephen Covey – “First Things First”
“Keep it simple, but not simpler”
Albert Einstein
Set goals…
…that stretch you but are attainable…
…and when you meet those goals set new ones!
“You can’t introduce new practices without a solid foundation of
integrity”Cohen and Roussel
Succinctly,
“Everyone wants to go to heaven,but nobody wants to die” Joe Louis
Remember, To accomplish anything worthwhile, you must pay the price
Panel Discussion
Q&A
Thank you for attending
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