Interim management provider Russam GMS asked 11,000 interim managers what Vince Cable needed to do now to power UK businesses.
A panel of judges, which included John Philpott, chief economist at the CIPD and professor Russel Griggs, chair of the CBI’s small business council, sifted through the entries to pull together a ten-point charter for Cable. Here it is:
1. The SME sector is going to be a key part in the salvation of the UK economy, but it needs as much help as it can get. SMEs need to get better and continuous advice, particularly around strategy, risk and general management.
2. We need to build our export market and end the reliance on Europe as our main export market as it has its own troubles – except for Germany.
3. The demise of manufacturing in this country is a major problem and the UK needs to provide incentives to manufacturers to improve efficiencies and this doesn’t mean making cuts.
4. Government needs to address UK productivity which lags behind US and France and Germany. It needs to get business leaders passionate about addressing productivity for this to improve.
5. Train people in key areas where the UK excels including law, teaching, science, design and engineering, the arts and pharmaceutical manufacturing and develop our service industries.
6. With the demise of RDAs and Business Link there needs to be alternative support organisations for UK SMEs. There needs to be funding for SME advisors and business mentors.
7. Grants for research and development need to be made more readily available to SMEs.
8. We need to prepare young people for business and sow the seeds of entrepreneurialism at school.
9. We need to invest in people in good times and bad – the “cut, cut, cut” mentality is draining energy and creativity from business.
10. Immigration is necessary particularly where there are clear and skills shortage. It should be viewed as this rather than a social inconvenience.
Full details here.
Do you agree with these priorities? What would you add? Post your comments below.
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