Originally written by Partner Content on Small Business
It is widely accepted that support from peer groups and peer networking is often the first port of call for business owners facing similar challenges.
As businesses navigate the ongoing pandemic including a third national lockdown and deal with issues arising from exiting the EU, they can find help and no-nonsense support and advice through peer networking.
In 2021 peer networking can create a feeling of community no matter what industry or sector you are in, but it also helps business owners realise that they are not alone in the obstacles they face on a day-to-day basis.
With the help of like-minded peers, they can gain valuable insights leading to day to day solutions to help grow their business.
Which is why Peer Networks is working with SME business owners across England to help place them in a stronger position for future growth.
>See also: How peer support is helping me and my business
What are the experts saying about Peer Networks?
Isla Wilson is a director at Ruby Star Associates and a Peer Networks facilitator for Greater Manchester.
She says: “There is real value in sharing experiences with others and drawing out learning which each member can apply to themselves
Tag Archive for Business Management
Hot Business News Today
Pros and cons of employee ownership trusts (EOTs)
by Anna Jordan • • 0 Comments
Originally written by Anna Jordan on Small Business
Employee ownership trusts (EOTs) are relatively new in the business world.
The EOT survey 2019 shows that there are 241 verified EOT-owned companies and a further 34 EOT-owned companies that have been established for longer, otherwise known as ‘deemed EOTs’. Between the two, EOTs employ 23,000 people in the UK.
It’s a popular model in the manufacturing and professional services sectors. A large proportion are represented in London and Scotland, with virtually none in Northern Ireland.
Over half (55 per cent) of EOTs own the entire company; a further 40 per cent are hybrid models in which the EOT is a majority owner alongside employee shareholders and/or founders.
BDO predicts that a combination of Covid-19 and a rise in Capital Gains Tax (CGT) mean that shareholders are becoming increasingly likely to sell off companies before the end of the 2020/21 tax year.
We’ll explain just what an employee ownership trust is and the pros and cons of transitioning to this model.
What is an employee ownership trust?
An employee ownership trust is a specialist form of an employee benefit trust, introduced by the government in 2014.
With an employee ownership trust, shareholders are encouraged to sell their shares into a trust
Hot Business News Today
Small business national lockdown – what support is available?
by Anna Jordan • • 0 Comments
Originally written by Anna Jordan on Small Business
Grant support for 2021 lockdown
After announcements from Boris Johnson and Nicola Sturgeon, England and Scotland have gone into lockdown. Wales has been in lockdown since December 20.
To support businesses through this period, chancellor Rishi Sunak has announced £4.6m of grant funding. This includes a one-off top-up grant for leisure, hospitality and retail businesses of up to £9,000.
They’ll be granted to closed businesses as follows:
£4,000 for businesses with a rateable value of £15,000 or under
£6,000 for businesses with a rateable value between £15,000 and £51,000
£9,000 for businesses with a rateable value of over £51,000
A £594m discretionary fund is also being made available to support other businesses affected by the lockdown. As with the other grant funding, you’ll need to apply through your local authority.
More money has been giving to the devolved nations as part of the announcement but there have been no further funding announcements from them at the time of writing.
This new lockdown support is in addition to existing funding, as listed below.
Additional Restrictions Grant (ARG)
Available for businesses that are not covered by other grant schemes or where additional funding is needed.
Bounce Back Loan Scheme (BBLS)
Loans of between £2,000 and £50,000, up to
Hot Business News Today
Peer Networks supports small business owners to grow their businesses
by Partner Content • • 0 Comments
Originally written by Partner Content on Small Business
Peer Networks is set to drive SME growth as small to medium-sized business owners work together to navigate challenges and adapt to the “new normal”.
From construction to cycling, early adopters of Peer Networks Chris Kane and Kirsti Grayson are already seeing the benefits of tackling common challenges and opportunities with other businesses.
Up and down the country SME business owners, such as Chris and Kirsti, are coming together in small groups to learn from each other on important challenges and opportunities such as EU transition, recovering from the impacts of Covid-19, HR, tech, finance and marketing.
>See also: Your guide to Peer Networks
Chris Kane, co-founder of Dorset-based Greendale Construction, is one of many small business owners who have already signed up for Peer Networks.
Chris said: “This year has been a challenging time for all businesses, especially SMEs as the ongoing pandemic continues to cause uncertainty.
“Peer Networks are interesting and engaging, with a great mix of business owners taking part. I came with an open mind and wanted to help myself and others address some of the business challenges we are facing.
“I want to learn from my peers, understand their challenges, speak about our own and
Hot Business News Today
The power of peer support and how Peer Networks can help SMEs thrive
by Partner Content • • 0 Comments
Originally written by Partner Content on Small Business
As a small to medium sized business owner, engaging with a network of trusted peers to talk about and find solutions for opportunities and challenges can be an extremely valuable experience.
Gaining practical insights as a result of support others who are in a similar position can help guide the business in the right direction and position them to take advantage of future growth.
Whether an SME business is assessing new market opportunities or facing challenges around product development, HR, tech, finance or marketing, peer support can give business owners the opportunity to share those issues in a collaborative environment often leading to highly impactful solutions that reflect on valuable feedback from their peers.
Peer Networks has been developed to create a trusted and powerful virtual support network for SMEs to work together in small groups so they can strengthen their own knowledge and improve the overall performance of their business.
Backed by the Department of Business, Energy and Industrial Strategy (BEIS), Peer Networks is being delivered locally in England by Growth Hubs with the support of the Local Enterprise Partnership (LEP) network.
Kirsti Grayson (below), director of Go Velo, a Bikeability provider offering cycle training and bike maintenance
Hot Business News Today
Peer Networks supports small business owners to grow their businesses
by Partner Content • • 0 Comments
Originally written by Partner Content on Small Business
Peer Networks is set to drive SME growth as small to medium-sized business owners work together to navigate challenges and adapt to the “new normal”.
From construction to cycling, early adopters of Peer Networks Chris Kane and Kirsti Grayson are already seeing the benefits of tackling common challenges and opportunities with other businesses.
Up and down the country SME business owners, such as Chris and Kirsti, are coming together in small groups to learn from each other on important challenges and opportunities such as EU transition, recovering from the impacts of Covid-19, HR, tech, finance and marketing.
>See also: Your guide to Peer Networks
Chris Kane, co-founder of Dorset-based Greendale Construction, is one of many small business owners who have already signed up for Peer Networks.
Chris said: “This year has been a challenging time for all businesses, especially SMEs as the ongoing pandemic continues to cause uncertainty.
“Peer Networks are interesting and engaging, with a great mix of business owners taking part. I came with an open mind and wanted to help myself and others address some of the business challenges we are facing.
“I want to learn from my peers, understand their challenges, speak about our own and
Hot Business News Today
The seven key business growth drivers
by Lynn Rattigan • • 0 Comments
Originally written by Lynn Rattigan on Small Business
Since the emergence of COVID-19, SMEs have undergone a rapid evolution with priorities shifting overnight and changes made to how they conduct business.
For some, this has been an opportunity to reassess business models and operational costs, diversify offerings and find new ways of delivering the same services. Despite the challenges of this year and uncertainty over the future UK-EU trading relationship, SMEs continue to demonstrate their ability to respond in agile ways. Many entrepreneurial businesses remain cautiously optimistic about how they’ve been able to pivot.
Amid disruption to the economy, there are key growth drivers that can help entrepreneurs and SMEs maintain their ambitions and protect growth plans. These drivers can help aspiring companies think differently about their businesses and successfully execute their growth strategy over the long-term. These drivers are: the customer, people, technology, operations, finance, transactions and risk.
Our research has found that focusing on each one can help business leaders assess where they are today and plan the right path to accelerate growth. The most successful companies tend to keep in mind their mid- to long-term priorities, and they continue to invest in areas such new talent, which they know will be
Hot Business News Today
Your guide to Peer Networks
by Partner Content • • 0 Comments
Originally written by Partner Content on Small Business
The UK has led the way when it comes to SME businesses innovating and collaborating as they seek to scale and grow.
During uncertain economic conditions it is more important than ever for SMEs to work together through their challenges to learn, share and collectively find solutions that can have long-term impact both on their business and the economy.
At times of uncertainty, business owners should not feel they are on their own and by working with like-minded people who know business best, other business leaders, they can ensure they are getting the right support and solutions to prepare them for future growth.
To do this, the government backed Peer Networks has been developed to support businesses in England.
The programme has been created with SMEs in mind and will be delivered by local Growth Hubs, who understand the local business landscape.
How does Peer Networks work?
The programme will see the creation of a series of Peer Networks (cohorts) through the Growth Hub network, with each group consisting of between eight and 11 owners or managers from the SME business community participating in each network.
Led by a professional facilitator, there is no cost to join Peer Networks. Sessions
Hot Business News Today
The seven key business growth drivers
by Lynn Rattigan • • 0 Comments
Originally written by Lynn Rattigan on Small Business
Since the emergence of COVID-19, SMEs have undergone a rapid evolution with priorities shifting overnight and changes made to how they conduct business.
For some, this has been an opportunity to reassess business models and operational costs, diversify offerings and find new ways of delivering the same services. Despite the challenges of this year and uncertainty over the future UK-EU trading relationship, SMEs continue to demonstrate their ability to respond in agile ways. Many entrepreneurial businesses remain cautiously optimistic about how they’ve been able to pivot.
Amid disruption to the economy, there are key growth drivers that can help entrepreneurs and SMEs maintain their ambitions and protect growth plans. These drivers can help aspiring companies think differently about their businesses and successfully execute their growth strategy over the long-term. These drivers are: the customer, people, technology, operations, finance, transactions and risk.
Our research has found that focusing on each one can help business leaders assess where they are today and plan the right path to accelerate growth. The most successful companies tend to keep in mind their mid- to long-term priorities, and they continue to invest in areas such new talent, which they know will be
Hot Business News Today
Your guide to Peer Networks
by Partner Content • • 0 Comments
Originally written by Partner Content on Small Business
The UK has led the way when it comes to SME businesses innovating and collaborating as they seek to scale and grow.
During uncertain economic conditions it is more important than ever for SMEs to work together through their challenges to learn, share and collectively find solutions that can have long-term impact both on their business and the economy.
At times of uncertainty, business owners should not feel they are on their own and by working with like-minded people who know business best, other business leaders, they can ensure they are getting the right support and solutions to prepare them for future growth.
To do this, the government backed Peer Networks has been developed to support businesses in England.
The programme has been created with SMEs in mind and will be delivered by local Growth Hubs, who understand the local business landscape.
How does Peer Networks work?
The programme will see the creation of a series of Peer Networks (cohorts) through the Growth Hub network, with each group consisting of between eight and 11 owners or managers from the SME business community participating in each network.
Led by a professional facilitator, there is no cost to join Peer Networks. Sessions