solent business awards 9


SMEs – the powerhouses of the economy


Small and medium-sized businesses are among the most entrepreneurial and exciting businesses in the UK, says Mark Munro of James Cowper Kreston. In 2014 a record 550,000 new businesses were created and, while most of them will remain small, they also play an important part in the UK economy, creating jobs and wealth


Lord Young, the Government’s enterprise adviser, has said that “there has never been a better time to start and grow a business“, yet these businesses are all too often overlooked and undervalued.


James Cowper Kreston has always been on the side of the fast-growing entrepreneurial businesses, providing the support and advice they need and championing their cause. That is why we are delighted to be supporting The Business Magazine’s Solent Business Awards.


The Solent Business Awards provide firms with a great platform to showcase their products, services and expertise. They also provide an opportunity to discuss their concerns and hopes for the future.


The SME of the Year award is one of the more hotly contested, attracting the largest number of entries. The award is open to all businesses with an annual turnover of up to £10 million.


The official entry guidelines state that the “judges will be looking for growth and high performance, examples of innovation in products, services and/ or business practices, and a wider contribution to the industry and/or the community.“


But as one of the judges I can give would-be entrants the inside track on what we will be looking for in a winning business. These traits can be found in all good SMEs:


• Dynamic leadership


Does the management team have a clear vision and is it truly leading the business?


• Responsive to customers


Is the business meeting and exceeding the needs of its customers?


• Adaptable and flexible


Successful businesses must be able to adapt and respond to changing customer needs and economic environment.


• Innovative


Is the business innovative? This could be through its products or services, or in the way the business is run.


• Profitable


This does not mean profitable from day one, but a profitable future.


• Fast growing or potential for growth


Successful businesses are growing or have the potential for growth. Does yours?


• Meeting a market need


Is there real evidence of the need for your business’ products and services?


• Creating employment


SMEs are the engines of the economy employing talented and committed people. Does that sound like your business?


• Giving back to the community


All businesses are part of a community. How do you support yours?


• A good place to work


Can you demonstrate your commitment to your staff?


If this sounds like your business please do enter The Business Magazine’s Solent Business Awards.


To enter the The Business Magazine’s Solent Business Awards visit:


www.solentbusinessawards.co.uk


James Cowper Kreston has a long track record in supporting fast growing owner- managed businesses. Whether it is a new business looking for funding, help with incentivising employees, managing a business’ audit or tax affairs, or an eventual sale, we are part of your team.


Mark Munro is a senior manager at James Cowper Kreston and is based in Southampton.


Details: Mark Munro mmunro@jamescowper.co.uk www.jamescowperkreston.co.uk


THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – MAY 2015


www.businessmag.co.uk


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