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SMEs – the powerhouses of the economy


Small and medium-sized businesses are among the most entrepreneurial and exciting businesses in the UK, says Alan Poole, partner at 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 fast-growing entrepreneurial businesses, providing the support and advice they need and championing their cause. That is why we are delighted to be once again supporting the Thames Valley Business Magazine Awards.


Now in its 21st year, the Thames Valley Business Magazine Awards provides firms with a great platform to showcase their products, services and expertise.


It also provides 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 a large number of entries. The award is open to all businesses that have been established for over two years, operate in the Thames Valley and have 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 our previous winners, Chemistry Group, GRITTIT, CV-Library and last year's winners Fiscal Technologies (pictured below) were able to demonstrate and what we will be looking for once again this year in our winning business (see list on right).


These traits can be found in all successful 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?


Adaptability


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


Innovation


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?


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.


Details: Alan Poole apoole@jamescowper.co.uk www.jamescowperkreston.co.uk


THE BUSINESS MAGAZINE – THAMES VALLEY – SEPTEMBER 2015 www.businessmag.co.uk


If this sounds like your business then maybe your business could be the SME of the Year at the Thames Valley Business Magazine Awards. To enter visit: www.businessawards.co.uk


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