Innovation amongst entrepreneurs needs to be encouraged
With start-ups supporting Britain’s economic comeback, sales and marketing firm Strategic Five Marketing believe more needs to be done to encourage investment in the UK’s vibrant start-up community.
Start-up businesses have helped the economy in its recent improvements. Strategic Five Marketing points out that these new businesses create plenty of job opportunities and provide consumer income which is then put back into the economy. Innovation amongst entrepreneurs needs to be encouraged as their original ideas can help to create a sustainable economy for future generations. But with many start-ups failing, entrepreneurs need to be offered support to know that they can make these innovative companies succeed.
Britain needs as many fast-growing innovative companies as it can get. Innovative companies can have significant value in their intellectual property, usually a copyright or a patent but the problem is they offer a lot of risk and uncertainty making banks less enthusiastic about lending to them. Although a risk when that risk pays off they are infinitely more important to the countries future than buy-to-let property companies. But they are not getting enough financial support. From 2001-07 the total capital raised in the UK financial system increased by more than £1.3 trillion, but investment in innovations over the same period increased by just £26 billion. On top of this innovative firms are finding it extremely difficult to get funding, 57% of innovators had trouble obtaining finance in 2012 compared to 38% in 2007.
The lack of support for innovative entrepreneurs is having a drastic effect on small businesses. They may be forced to sell shares too quickly and for far less than they could, damaging their chances of growth. Often these firms are forced into selling to foreign companies for all the wrong reasons, meaning the UK economy is losing out. More support would mean that the high failure rate amongst start-ups would also drop significantly.
Strategic Five Marketing is an outsourced sales and direct marketing firm specialising in individuality and personalised campaigns. The firm provide a service to their clients that no other company can offer them. The firm’s main goal is to increase their clients’ customer acquisition, brand awareness, brand loyalty and to drive quality sales. Strategic Five Marketing connects with consumers through face-to-face engagement which helps to build personal relationships between brand and consumer.
Strategic Five Marketing supports and encourages entrepreneurship through their development program. The program teaches all those involved within the firm the right skills to be successful such as leadership and product knowledge. As well as this the program pushes individuals through the ranks and gives them the opportunity to potentially own their own business.
Strategic Five Marketing has highlighted alternative ways for small businesses to gain funding. Government grants for small businesses are available from the UK government, the Scottish Parliament and the Welsh and Northern Ireland Assemblies. Each grant provider has its own departments and agencies which offer funding based on specific criteria and objectives. For UK businesses there is a comprehensive list of grants available using the government’s ‘business finance support finder’ tool which allows entrepreneurs to select specific funding options and search for grants by their business location, size, and type of business activity.
Strategic Five Marketing is hoping to see an increase in support for start-ups as this could drastically improve the rate of success and in turn improve the economy.
Press release distributed by Pressat on behalf of Strategic Five Marketing, on Thursday 21 August, 2014. For more information subscribe and follow http://www.pressat.co.uk/
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