Sector Focus


BIRMINGHAM BUSINESS SCHOOL


Spaces that create sustainable entrepreneurs


By Kirsty Smith Marketing Officer, Birmingham Business School


A University of Birmingham project looking at what kind of spaces are needed for creating sustainable entrepreneurs has been funded by a grant obtained from the Institute for Small Business and Entrepreneurship, supported by the leadership team at the Impact Hub in Birmingham. The project will explore the


case of the Birmingham Impact Hub to understand how impact hubs create opportunities for sustainable entrepreneurship. Professor Kiran Trehan, Professor of Leadership and Enterprise Development and Dr Vivek Soundararajan, Research Fellow in Management, both from Birmingham Business School are leading this pioneering project, to understand how important these hubs are for communities, individuals and partners they work with. Impact-orientated


knowledge hubs have recently been emerging in major global cities and can act as incubators and community centres whilst offering unique resources, inspiration and opportunities for collaboration. However, little academic research has thus far been completed to understand their impact and influence on sustainable entrepreneurship within society. The knowledge gained will


be both actionable as well as academically rigorous and will offer evidence-based guidelines for better design and effective implementation of impact- oriented knowledge hubs. The evidence and conclusions gathered will give businesses, policy-makers and academia a clearer picture of how impact hubs have a positive and sustainable influence.


If you are interested in finding out more about social sciences research of if your business is looking to partner with a University, please contact Andy Newnham, Business Engagement Partner, University of Birmingham, a.newnham@bham.ac.uk


50 CHAMBERLINK April 2017


Finance


Sponsored by: University of Birmingham Sector Focus The latest news from the sectors that matter to business


Germany is SMEs’ most important trading partner


UK small to medium enterprises (SMEs) overwhelmingly see Germany as the most important country to trade with, according to the latest SME Confidence Tracker from business funder, Bibby Financial Services (BFS). According to Bibby’s research,


SMEs are concerned about looking beyond traditional key trading partners such as Germany and the US, despite the government’s apparent rush to set up trade deals with countries who are located anywhere other than Europe. However, Bibby’s latest SME


Confidence Tracker says that well over half of UK SMEs (59 per cent) said that Germany is the most important country inside the EU to have trade ties with. The research also revealed that


one in ten (9 per cent) believed that the French economy should be a priority for the UK, and hardly anyone thought that the economies of Ireland, Spain, The Netherlands, Italy, Poland and Belgium (1 per cent) were central to the UK’s economic prosperity. When asked which countries


outside of the EU they saw as most important, more than half (51 per


markets where there is already high demand for goods branded ‘Made in Britain’.” Bibby said that post-Brexit trade


deals already underway showed the UK government was keen to build trade links with countries such as Australia, Canada and New Zealand. But the company claimed the


Exciting times: Jim Davis


cent) plumped for the US, and a third (32 per cent) opted for China. Steve Box, international CEO at


Bibby Financial Services, said: “Now it is almost certain that the UK will be leaving the single market, the future of the UK’s trading relationship with countries within the EU is more uncertain than ever. “It is no surprise that the


Government is looking to build new trading relationships outside of the EU and beyond traditional partnerships. However, as many SMEs have little experience exporting outside of the EU, they are drawn to doing business in


SME community have ‘reservations over the importance and priority of securing trade with such countries’. • Bibby has increased funding for businesses in Birmingham by 39 per cent over the past 12 months. During 2016, the company’s commercial team in Birmingham structured 158 funding deals, increasing funds available to SMEs from £16.4m in 2015 to £22.9m in 2016. Jim Davis, head of sales for the


West Midlands, said: “It is a really exciting time for businesses in Birmingham and throughout the Midlands at the moment. “While there has been much


focus on developing the Northern Powerhouse, there is still the Midlands Engine revving along and the region is strongly becoming a viable alternative to London and the South East for many businesses.


Barclays to target apprentices


Barclays is launching the UK’s first degree apprenticeship in banking. Set to launch later this year, it


will encourage a wider range of people from any social demographic, background or age to enter the industry. For Barclays, it will create new


pathways for the apprenticeship programme in the bank, including Corporate Banking and Wealth Management. While apprenticeships are now


available in an ever-growing range of sectors, research shows the majority of parents aren’t fully aware of the variety available. Over three-quarters (77 per cent) admit to knowing about


apprenticeships in the plumbing industry and two-thirds (66 per cent) have knowledge of one in hairdressing, but only 37 per cent are aware of ones in the financial sector. Despite the potential for great


careers with apprenticeships, recent figures show nearly half (47 per cent) of all students’ parents and 68 per cent of their teachers never discuss apprenticeships with young people as a viable career route and alternative to university. To further highlight


apprenticeships as viable career routes, the research shows that apprentices earn an average ‘Lifetime Earning Premium’ of £117,600 more than those with


just A-Levels – with graduates earning just £2,200 more. In some sectors, apprentices’ lifetime earning potential is 270 per cent more than graduates. Mike Thompson, head of


apprentices for Barclays, said: “We want people of all ages and backgrounds to consider a career in banking – a sector that we know is traditionally viewed as something only university graduates work in. “That’s why we plan to launch


the UK’s first Degree Apprenticeship in Banking; to open up banking to people from all backgrounds, allowing them to earn and learn, without racking up student debt.”


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