18 entrepreneurs


Southampton entrepreneurs are agents of growth


New figures from Grant Thornton’s Place Analytics report show that Southampton is one of the most fertile grounds in the country for setting up a business


The city ranks in the top 40% of areas in the country for new business formation rates and Grant Thornton UK LLP says this is evidence of Southampton’s growing population of entrepreneurs.


The trend is reflected across the Solent and wider area, with Hampshire and Surrey seeing a 21% rise in people setting up businesses since the financial crisis in 2008.


”A dynamic local enterprise culture is vital for the long-term competitiveness and overall success of the local economy,” says Norman Armstrong, Grant Thornton partner (pictured). ”We need to give entrepreneurs more support and encouragement so they have the confidence to grow and contribute even more to our GVA. Reducing red tape for SMEs should be a key priority for the Government if it wants to unlock the full potential of these agile, high- growth-potential businesses.”


He added: ”While we have some real success stories over recent years, more can be done to shape our next generation of young entrepreneurs. Entrepreneurship isn’t promoted enough as a potential career pathway and young people are often put off setting up their own businesses for fear of it being too ’risky’ compared to the traditional university and graduate job route. Schools, colleges, careers advisers and parents all have a part to play in challenging the status quo and encouraging young people to develop their passions and ideas into businesses.”


Another organisation that is working to nurture the next generation of entrepreneurs in Southampton is SETsquared, a university business incubator run in partnership by the universities of Southampton, Bath, Bristol, Surrey and Exeter.


David Bream, centre director of SETsquared in Southampton, says: ”We’re already seeing a number of organisations, both public and private sector, working together and playing their part. Future Solent, Solent LEP, PUSH, Hampshire Chamber of Commerce and The University of Southampton are all supporting entrepreneurs through various workshops, funds and grants.”


Reflecting on what values the next generation of entrepreneurs will focus


www.businessmag.co.uk THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – SEPTEMBER 2015 Top tips for entrepreneurs


Serve society and seek to make a difference


As an entrepreneur you have to serve society. It will be where your best ideas come from. Companies have a responsibility to make a difference to their staff, their customers and the community. Doing good goes hand-in-hand with good business.


Put something back


Whether you attend events to lend your newly-gained expertise or you have set up a great employee benefits scheme, businesses that give back are always highly regarded. If employees are engaged, they will enjoy their work and therefore do a better job. Take the ultimate entrepreneur, Richard Branson, for example. Virgin always makes the headlines for the ways Branson finds to give back.


Be the best you can be


on Armstrong said: ”We’ve seen a major shift in the way companies of all sizes are doing business and seeking to become more socially responsible. A lack of consumer trust in big brands, caused by a succession of scandals over recent years, will see our next wave of business leaders put much greater focus on serving society and taking the moral high ground.”


This might mean you resist selling to the first good bid. You should realise your organisation’s potential and want to take it, develop it and progress it as far as possible. Tenaciously sticking to goals, listening more and sometimes talking slightly less can overcome obstacles and help you meet your targets, without sacrificing quality.


Make money


Finally, don’t be ashamed to make money. Your drive to make money is one of the primary reasons that you are an entrepreneur. Don’t lose sight of this.


Details: Norman Armstrong 023-8038-1114 norman.armstrong@uk.gt.com


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