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June News from the ERC
www.enterpriseresearch.ac.uk 
ERC’s State of Small Business Britain Conference 2015  welcomed over 150 delegates to the Thinktank in Birmingham’s Millennium Point.
 

The morning kicked off with a close look at what happened to the economy between 2008 and 2014 and its impact on small and medium sized businesses. We were proud to launch our UK ‘Growth Dashboard’ in collaboration with the Business Growth Service setting out the latest data on how the SME sector both fared in, and is now showing signs of recovery, from the Great Recession. A lively debate bringing both international and real life business perspectives followed and set the tone for a day full of contrasts.

 
Watch the State of Small Business Britain conference 2015 opening video

After the break, we looked at the links between high entrepreneurial ambition which we know drives growth, and education and ethnicity. It turns out both are also drivers of growth, and mobility is what matters –  with immigrants and regionally mobile people more likely to have high ambition than people who never move.

 
Our fun whiteboard video outlines this important piece of research.

Professor Sara Carter took us into lunch with a look at whether entrepreneurship makes you wealthy and the impact of business ownership on households. Entrepreneurial households are wealthier in terms of their assets than non-entrepreneurial households but for many small business owners there are high levels of interdependency between what happens to the businesses finances and what happens to the family’s.Read Sara’s presentation here

We were joined by Sherry Coutu and Baroness Patience Wheatcroft who talked together about how the UK could maximise the growth prospects of UK firms with Scale-Up potential. This set the frame for the unveiling of some emerging findings from research by Mark Hart on the 'Millennial 2000' businesses. The M2000 were all born in 1997/98 and have survived 2 downturns to generate significant levels of growth in jobs or sales or both. We were left wondering whether, within a subset of this group of firms, we might find some valuable insights into the UK’s ‘Productivity Puzzle’.

The work was brought alive by 2 of our business guests, Chris Pick from Pick Fisk and Raj Iqbal from Choice Packaging Solutions Ltd. who are both Millennial 2000 Firms and have fantastic growth stories to tell. 
Read Mark's presentation 
 here  and  the case studies of our M2000 Firms ERC Conference 2015 - Business Case Studies.

Throughout the day the audience were encouraged to join in, sharing thoughts, asking questions and voting on key questions. We closed a really engaging and thought provoking day collectively considering the UK’s future challenges over the next 5 years.

For more information and our conference photo gallery, visit the
ERC website 

Recent Publications 

UK Growth Dashboard 2015

UK Growth Dashboard reveals surprise landscape of SME growth in aftermath of the Great Recession

 

The UK Growth Dashboard 2015, a new study by the Enterprise Research Centre (ERC) in partnership with Business Growth Service looks at a range of indicators to  shed new light on the health of small businesses and entrepreneurship across the whole of the UK. the report shows that, overall,small businesses have finally regained the ground lost since the Great Recession- with jobs, start up and growth rates returning to pre-crisis levels in 2014 for the first timer since 2008.It paints a much more complex picture of  growth in the ‘grassroots economy’ than the usual caricature of a booming London and trailing provinces – with growth hotspots being found in every nation and region of the UK.

Professor Mark Hart, Deputy Director of ERC, said:

“The UK Growth Dashboard provides us with the most detailed picture of where entrepreneurial activity and business growth is occurring around the country.

“It shows us that small businesses in every corner of the UK are growing at their fastest rate since the Great Recession, while more and more entrepreneurs have the confidence to take the plunge.

“Nevertheless, there remain big regional disparities in entrepreneurship and small business growth. Equipped with the up-to-the-minute information contained in the Dashboard, we can see that some areas appear better at breeding success. At a policy level, this can help us create an environment for business to thrive throughout the country.”

 

Download the report here

Benchmarking  Local Innovation


The UK 'Arc of Innovation'


The first ever study mapping where firms developing new British goods and services are concentrated  Benchmarking local innovation – the innovation geography of the UK , a new report released by the ERC.
The UK has an ‘arc of innovation’ stretching from Cambridge through the South-East Midlands and along the M4 corridor.Key nodes of the arc of innovation include well-known university spin-off centres Oxford and Cambridge, as well as more surprising areas like Gloucestershire and Milton Keynes.
 

Download the report here
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