20 New index recognises
fast-growing SMEs Welcoming more than 80 business guests to the first ‘Breakfast Expo’, complete with SME business sponsor stands, David Murray, The Business Magazine publisher, revealed that a new SME100 Growth Index was currently being compiled, writes John Burbedge
Based on recent three-year turnover growth, the SME Growth Index was already illustrating the rapid progress of cloud service providers with NewVoiceMedia of Basingstoke and Cloud Distribution of Newbury both topping 140% growth.
Not that this was the only sector with companies showing impressive growth … all will be revealed later this year.
Ella’s Kitchen recipe for success
Mark Cuddigan, MD of the organic baby food commercial success that is the Henley-based company Ella’s Kitchen, was one of the main speakers and helpfully passed on his eight best business tips for avoiding ‘growing pains’.
Founded in 2006, Ella’s Kitchen featured for four years running in the Sunday Times Fast Track 100, and now operates in 16 countries. Today it is a $100 million turnover company owned from 2013 by the Hain Celestial Group, a North American natural and organic products company.
Cuddigan’s tips were:
Cash: Although sales figures might be booming, make sure cashflow is strong too. Running out of cash can become a very real problem for a successful business – that needs cash to grow.
Passion: Maintaining the founding spirit and passionate business belief, plus retaining good people during challenging times can be difficult.
Risks: It’s more challenging to take risks when you get bigger and the stakes get higher. “But, if you’re not taking risks and making mistakes, you’re not pushing the business boundaries.”
People: People who got you where you are, may not be the right people to take you forward. Be prepared to let people go as you grow.
Identity: Ensure there are company values and a business identity. Ella’s Kitchen’s: child-focused; care about colleagues; respect partners; aim to win; be business-minded.
Mission: Ask: Why do we exist? Where do we want go? What do we want to achieve? How do we get there? Maintain ‘The Mission’ as you grow.
Professionalism: Today Ella’s Kitchen deals with the major high-street and supermarket corporates. You have to be professional, and can’t make novice errors.
Sustainability: Be aware of the need for sustainability and ethical operations both in your business model and the customer’s mindset.
New Thames Valley Science Park by 2017
Within two years the Thames Valley should have a brand-new 45-acre Science Park, at Shinfield south of Reading, ready to house driving forces of the scientific community of tomorrow.
Some of that community – roughly 80 companies – is currently operating successfully within 150,000 sq ft of science and technology facilities on the University of Reading (UoR) Whiteknights campus. The new science park development already has outline planning consent for an initial 200,000 sq ft.
David Gillham, director of research and enterprise at UoR and lead for the project, said the new science park would provide “the physical heart of a virtual enterprise community,” and hoped it would become “a magnet to the area” for developing early and mid-stage UK businesses, like-minded clustering, and overseas talent and business investment.
While “one of the Thames Valley’s best-kept secrets”, the University of Reading is one of the UK‘s leading research-intensive universities and the new science park will help cement that role and boost opportunities for innovative businesses.
Although the Thames Valley is Europe’s biggest knowledge-based economy, there was a need to invest in tomorrow’s businesses, he stated.
The university was committed to supporting the local business environment: educating skilled graduate students; promoting knowledge transfer; providing on-campus business space; and investing directly into the local economy through such schemes as the new science park.
It’s £400m investment over the past ten years had enabled such facilities as lettable offices and laboratories at the 30,000 sq ft Science and Technology Centre, the flexible-leased 45,000 sq ft Reading Enterprise Centre for business incubation and growth, and the global R&D Centre for Mondelez, not forgetting the Centre for Entrepreneurship, part of Henley Business School, itself launched at UoR in 2008.
With most graduates now finding work within SMEs, business-related courses and internships were becoming far more SME-focused, Gillham noted.
The UoR’s involvement with the business community is highlighted by Gillham’s own role covering further education as an executive board member of the Thames Valley Berkshire LEP.
Naturally, close relationships are maintained with the LEP. It’s Business Growth Hub initiative, delivered via VitalSix, is based on campus offering advice and mentoring as well as links to national support programmes such as UKTI, Innovate and Growth Accelerator, the successful Thames Valley Funding Escalator, plus the ‘GROW’ incubator run by ConnectTVT at Green Park.
David Murray, Mark Cuddigan and David Gillham
www.businessmag.co.uk
THE BUSINESS MAGAZINE – THAMES VALLEY – APRIL 2015
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