CHAMBER NEWS
Pandemic has impacted needs of entrepreneurs
The Chamber offers initiatives and programmes to support businesses across the whole spectrum, ranging from start-ups to established forces. In her role as start-up adviser manager, Abigail Phillips (pictured) helps to guide people at the very beginning of their business journey – and has noticed a shift in the demographics and needs of new entrepreneurs during the pandemic, as she explains.
The past 14 months has sparked a real shift in the lives we all lead but here at the start-up team, we have seen how that translates in the world of work and the economy. The D2 Business Starter
Programme – which helps people move into self-employment and develop their ideas into commercially viable businesses – has welcomed 200 individuals from a mix of age, gender, ethnic and economic backgrounds. The free workshops we deliver in conjunction with Derby City Council and Derbyshire County Council have ensured their foundations are strong for starting a business. As furlough and, for some,
redundancy hit many people, 2020 brought a change in clients. With the help of Way2Work, which is aimed at people who are facing personal and economic barriers to finding work, the number of people unemployed joining the D2 Starter workshops has more than doubled since the last project.
NEW TRENDS IN BUSINESS START-UPS We have also seen a move away from cottage industry-type businesses towards consultancy, wellness and online retail as the opportunity to set out on their own has been grabbed by some. The demographics have changed too. In the past, we found a much more even split between genders, with the majority of participants being over 30.
HINTS AND TIPS FOR STARTING YOUR OWN BUSINESS
1. Know what it is that you will be doing. An elevator pitch is as much for you as the person you are talking to. Understanding your business offering and being able to tell someone in a clear and defined way is essential.
2. Write a business plan. It doesn’t need to be long but it is part of your story. Knowing what you would like to achieve really does help you fulfill your ambitions.
3. Consider your finances. How much will it take to get your venture off the ground?
4. Find a business best friend. Running your own business can be lonely and don’t expect your best friend, mum or sibling to understand what you’re going through. Join our workshops and meet likeminded people, the ones that are going through the same things as you. Take advantage of our business advisers and ask for help. You are not alone.
5. Be realistic. Rome wasn’t built in a day. Report outlines the next normal
New ways of working introduced during the pandemic offer opportunities for both employers and staff, according to a new report by the British Chambers of Commerce (BCC) and Barclays LifeSkills. Titled The Next Normal: Futureproofing the
Workforce for a Post-Pandemic World, it reveals the thoughts of businesses on futureproofing the workplace for a post-Covid world. Among the key findings of research conducted
between November 2020 and February this year are that employees’ mental health and digital skills will become increasingly important, while employers must be ready to adapt their training priorities to help the next generation of school-leavers enter a markedly changed workplace.
30 business network June 2021 In terms of attracting new talent digitally, businesses
found online recruitment processes had given them access to a much larger pool of candidates. Hannah Essex, co-executive director of the BCC, said:
“This report tells us that companies are now looking to the future of the workforce and are keen to grab hold of opportunities for greater productivity and improved wellbeing for their employees. “But firms will need more support to ensure their
staff thrive. The capability to adapt to shifting training priorities and new ways of working across the board will be a key strength for any organisation.”
The full report is available at
bit.ly/3elT8cB
THE NEXT NORMAL FUTUREPROOFING THE WORKFORCE FOR A POST-PANDEMIC WORLD
Supported by Today we have found the
amount of people under this age has increased by 7% and shifted from being more popular among women to a 60:40 male-female ratio. This could be down to changes in current lifestyles with different demands on home life and the fine juggling act that many are facing. However, the one thing we have
seen was an alteration of timeframes. Historically, many people don’t look to take a wage in their first year of business, but this need has changed. People are setting up their
businesses out of necessity and need to draw an income sooner. Many are now looking at how they can immediately draw money to support themselves. In the Sheffield City Region,
where our Chamber is active, Scaleup 360 has been there to support high potential new businesses and start-ups. It gives them the skills and next-level help, such as prototyping and packaging design, to really help them shoot for the stars. It is our privilege to help all
these people along their journey. One-to-one support from our business advisers to help with the finer details, as well as look for funding opportunities, is offered from all our programmes, giving a leg up to those in need of speed with clear direction across Derbyshire and Nottinghamshire.
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