Magnetic’s Post

In this post, we explore how the EU is helping small businesses with various programs and initiatives that boost growth, innovation, and jobs within the region and how other governments can emulate. #EU #SMEs #Innovation #EconomicGrowth #SupportSmallBusiness #SMBs https://lnkd.in/dUintwfy

The Small and Medium Enterprise (SME) landscape is a breeding ground for innovation and agility. Unburdened by the bureaucracy of larger corporations, SMEs can adapt quickly and cater to niche markets. But this very nimbleness can also pose a challenge when it comes to scaling up. Many SMEs struggle to break through the initial growth phase and establish themselves as sustainable players. . https://lnkd.in/gFBGpJbm . . . #australia #melbourne #education #australiastudentvisa #students #internationalstudents #marketresearch #businessautomation #cloudsolutions #brandidentity #businesscollaboration #continuousimprovement #theinspirepreneurmagazine

What should the Autumn Statement say about small businesses? I am delighted that this Government seems to have grasped how important #SMEs are to the UK economy: 🚩they employ 61% of the UK's private sector workforce 🚩they produce ca 50% of #innovation in the UK And there are good indications that #UKGovernment is on the right path to developing a well-thought through #SMEStrategy which will be announced in the Spring. But first, we have the Autumn statement. I am looking out for: 📌clear signs that policy decisions have considered their impact on SMEs 📌#UKSPF funding for 25/26 enabling places to continue building local business ecosystems 📌#MadeSmarter funding to ensure that #manufacturing SMEs can tap into support to raise their #digital game. What else are you hoping that the Autumn Statement will do for SMEs?

How Private economy and investment boost economy ? Job Creation: Private businesses create employment opportunities, reducing unemployment rates and increasing disposable income for households. Innovation and Efficiency: Private companies often drive innovation and improve efficiency due to competition. This leads to better products and services, which can enhance productivity. Capital Formation: Private investments increase the capital stock in an economy. Businesses invest in machinery, technology, and infrastructure, which boosts productivity and economic growth. Tax Revenue: Private enterprises pay taxes, which provide governments with revenue to fund public services and infrastructure projects. Foreign Investment: A strong private sector can attract foreign direct investment (FDI), bringing in additional capital, technology, and expertise. Diversification: Private businesses contribute to the diversification of the economy, reducing dependence on a single sector and increasing economic resilience. Entrepreneurship: A vibrant private sector encourages entrepreneurship, leading to the creation of new businesses and industries, further driving economic growth.

The UK’s small and medium businesses are battling increasing operating costs 💷, and the fast paced evolution of technology 📱… …but new research shows that the UK economy could benefit from a £79 billion boost in the next 12 months if SMEs had the right capital and skills to effectively invest in new tech. Read our new report to find out what SMEs want from the Government and the opportunities they see in investment: https://lnkd.in/dXR2Enpm #ThreeBusiness #SMEs #UnlockingGrowth

Anyone small business friend's out there please do reach out! We have some really exciting plans at the moment. That won't just help you save money, but support your growth! 💸📈 #smallbusiness #entrepreneurship #growthmindset

💼 Boosting Productivity in SMEs 📈 Productivity in UK SMEs has consistently lagged behind our counterparts in G7 countries, with output per hour worked being significantly lower than in nations like Germany, France, and the US. This productivity gap reflects lower levels of investment in technology, skills development, and innovation among UK SMEs compared to those in other advanced economies. To enhance productivity within SMEs, we need to address some key factors: 1.        Invest in Skills & Training: Upskilling the workforce with the appropriate skills is crucial to drive innovation and efficiency. Companies that invest in continuous learning (raising the company IQ) see higher productivity gains. 2.        Adopt Digital Tools: SMEs should embrace automation and digital solutions to streamline operations, reduce costs, and increase output. 3.        Support Collaboration: Encouraging knowledge sharing between SMEs, universities, and large corporations can lead to breakthroughs in efficiency and productivity. 4.        Government Support: Policymakers need to reduce red tape and create a pro-growth regulatory environment, enabling SMEs to thrive in a competitive market. 5.        Access to Finance: Simplifying access to funding and grants will enable businesses to invest in innovation, research, and scaling. By focusing on these areas, companies can unlock its full potential and drive sustainable growth across all sectors. To discuss how we can help with points 1,2 and 3 feel invited to contact Harjit and share your requirements.  #Productivity #SMEs #LEAN#OperationalTransformation #UKBusiness #Innovation #DigitalTransformation

5️⃣ 💡 Priority area number five in our manifesto focuses on the crucial theme of innovation. Small firms in the UK have lost ground relative to larger firms in terms of innovation in the past few years. The latest UK Innovation Survey published earlier this year found that 36% of SMEs were innovation active compared to 50% of large businesses. Our research has also drawn attention to geographical disparities in terms of the extent of innovation activity across the UK. Why does this matter? Well, we know that innovation has long-term performance benefits for firms and boosts local economies. We need to reverse recent trends and enable more innovation activity to take place in small firms as well as addressing the disparities in innovation between places. Our research has shown that public support measures for innovation have had significant benefits for business growth. For example, innovation grants, loans and measures such as R&D tax credits can all help to de-risk innovation decisions for smaller firms, enabling more innovative activity to take place. Promoting collaboration can also support knowledge sharing between firms. Read the full report and manifesto here - https://lnkd.in/d54EgA6n #smallbusiness #manifesto #research #insights #policy #enterprise #innovation #growth #productivity ESRC: Economic and Social Research Council University of Warwick - Warwick Business School Stephen Roper Innovation & Research Caucus

🌟 Digital Transformation: A Top Priority for SMEs! . . A recent study by leanbpi in partnership with the Local Enterprise Offices (LEO) Network reveals a strong appetite for digital transformation among small businesses across Ireland. Key Insights from the Report: 📈 87% of SMEs say digital technology significantly enhances productivity. ✅ 60% are satisfied with their current digital tools. 🤝 Nearly two-thirds highlight improved relationships with customers, employees, and peers as the main driver for adopting digital solutions. The report, titled "Exploring Technology Readiness of Irish Small Businesses", underscores the sector’s readiness to embrace digital opportunities, backed by robust government and community supports. 🗨️ Dara Calleary, outgoing Fianna Fáil TD, shared: "It is very encouraging to see small businesses, even with only a handful of employees, view digital transformation projects as realistic goals. This gives us confidence in the future of the sector." 💡 John Magee, Chairperson of the LEO Network, emphasized: "Small businesses face challenges, but with the right support, they are ready to thrive in the digital age." 🤝 John O’Shanahan, MD of LeanBPI, added: "Collaborating strategically with stakeholders can unlock the full potential of Irish entrepreneurs as they transition to the digital world." What This Means: The passion for innovation among small businesses is evident. With tools, training, and support available, SMEs are poised to enhance productivity, build stronger relationships, and compete in a digital-first world. Let’s continue empowering small businesses to embrace digital transformation and drive economic growth. 🚀 #DigitalTransformation #SMEs #Innovation #Productivity #IrishBusiness #FutureForward #LeanBPI #LEONetwork #SMEs

A very interesting report that highlights the role and current challenges faced by SMEs in Australia's economy. This should inform the latest NSW initiative on the innovation blueprint. https://lnkd.in/gGSEkiNx #SMBs #SMEs #economy #innovation #NSWGov