28 sme summit A Santander summit for SMEs
'I have no doubt that the digital revolution is going to be the biggest change in our society since the steam engine,' said Ana Botín, chief executive of Santander UK plc as she addressed the SME Summit at the Royal Berkshire Conference Centre.
Prepare for digital change with strong partners
“It (the digital revolution) is really transforming everything we do and in a huge way. We need to think exponential change. For example, we have seven billion mobile subscribers in the world; three years from now we will have three billion more, many of them using smartphones.”
Within two years, she revealed, Google searches had reversed from 80% online and 20% mobile, to 20% online and 80% mobile.
The digital and mobile revolution will change behaviours and whole sectors, Botín stated.
She highlighted how the digital revolution was already affecting Santander – 4.5 million website visitors every week, an 85% increase in mobile banking customers last year, and digital channel transactions increasing from 1:5 to 1:3 in recent months.
“We all as companies have to be very aware of digital and must expect huge, huge change, while remembering that there is a huge opportunity too.”
Botín stressed that having the right staff and the right relationships with business partners and advisers would be key to progress in the digital world, particularly for small businesses.
“Santander was founded in 1857 in Spain, and we have not lost touch with our heritage. We care about SMEs and believe in long-term relationships – it’s in our roots,” said Botín.
“We will only grow if you do, so we are here to support you to do that.”
Insights from an informed SME Summit panel
Financing growth and identifying then retaining talent will be the most significant challenges for SMEs this year, according to recent Santander research.
The Santander Summit panel – Stuart Miller, CEO of Bybox; Clive Beattie, CEO Croft Associates, John Williams, head of Santander’s Breakthrough programme, and Ana Botín – discussed these, but raised some intriguing insights of their own:
• Entrepreneurs find a way. “If you haven’t got the wherewithal to get funding for growth then perhaps you shouldn’t be doing it.”
• The £200 million Santander ‘Breakthrough Programme’ not only provides funding for growth, international contacts and advice, but also half-funds a graduate’s salary when SMEs undertake internships.
• “The biggest problem, particularly for early growth, is how to get to your market before your money runs out.” Supportive banks and professional advisers can help.
• When you grow your own enterprise, you should grow as a leader. Business mentors can play positive roles for SMEs.
• Maintaining a creative mindset and scalability is important for growth.
• Company culture matters. “You need to give people the right type of organisation to be innovative.”
• “Innovation is the profitable application of new ideas.”
The SME Panel, from left, John Williams, Stuart Miller, Clive Beattie and Ana Botín
• Maintain the ‘vision’. Getting embroiled in day-to- day problems can easily stall growth or divert an ambitious objective.
• “The first 20 people you recruit will set your cultural DNA for ever.”
• Recruitment: “Fishing in unusual ponds can be really worthwhile.” Be open-minded. Part of growth is widening team skillsets. “You can’t disrupt a market with conventional people.”
• “There is talent out there. The difficulty is finding quality and right fit for your company.”
• Companies don’t always need university graduates. “If you broaden where you look there are plenty of exceptional people in this country.”
• Relationships are important for successful business. Learn from listening and meeting good business operators.
• Don’t give up – most of today’s ‘stars’ started as unknowns.
• International markets don’t have to be costly to enter and difficult to understand. Seek help – UKTi, banks, professional advisers, etc.
• International markets are huge, so have realistic ambitions. Accept there will be different cultures to understand. Employing local knowledge and talent can be a major bonus.
• Don’t go international unless you have the ambition. “There’s nothing wrong with making comfortable profits in your home market.”
• Are students reluctant to become entrepreneurs because they graduate with huge student debts?
Trade Portal proves popular
Structured networking was provided for like- minded peer-groups to discuss differing topics, and proving popular was a demonstration of the Santander Trade Portal. Launched last November, the online Trade Portal provides a one-stop shop of international resources for companies looking to start or manage their global expansion.
The Trade Portal helps with practicalities of international banking and shipments and includes access to relevant databases, such as: import-export flows, best trading countries, market reports, professional associations, online market places, calculators and, uniquely in the UK, a section on obtaining data on business partners. View:
https://santandertrade.com/en
How to be on the slide and still be successful
Most entrepreneurs wouldn’t listen to a man whose business was going downhill fast – unless he was Nigel Laughton, the British skeleton team performance director.
Laughton’s Bath University-based ‘business’ delivered 70 international medals including successive Winter Olympic gold medals (Amy Williams and Lizzy Yarnold) during his tenure. Suffice to say, Laughton’s summit presentation, sharing his ‘winning formula’ for talent management, goal planning and success, was both enthralling and enlightening.
www.businessmag.co.uk THE BUSINESS MAGAZINE – THAMES VALLEY – JUNE 2014
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