Growing businesses need better targeted support, says thinktank

The think tank, which represents management consultants, said that actively targeting companies could help the government identify those entrepreneurial businesses with an appetite for high growth.

It has also called for the development of bespoke regulatory timetables for SMEs, so that form-filling doesn’t all come at once, and the consolidation of SME support funds into a smaller number of pots.

Paul Connolly, MCA director, said: “Understanding those SMEs with a strong appetite for driving their business forward from those that do not is crucial to stimulating more robust growth amongst SMEs.

“For instance, focusing on those entrepreneurial SMEs could have the collateral benefit of helping identify those sub-sectors that can best respond to the demands of the modern economy.”

Kirsty Birks, vice president of the MCA, and director of member firm, Propaganda, said: “Middle-sized, owner-managed firms, are well placed to innovate. With Digital systems reducing the costs of risk-taking, they are able to move more quickly and more cheaply than before and are unconstrained by the governance structures of large PLCs. 

“These owner managers understand the relationship between their actions, image and brand. They’re genuine entrepreneurs because they are their business.”

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