British businesses face the challenge of how to embrace this evolving landscape; welcoming, rather than fearing the continuous change that characterises our business community today in order to succeed.
As such, 2014 is the year in which capitalising on our connections with those around us will be more important than ever and I believe there are two key things that businesses can do to achieve this.
Invest time in building relationships with other businesses
Firstly, it’s about building connections with other businesses. The UK economy is showing signs of tentative recovery. But in order to sustain this positive momentum, and for businesses to take advantage of the greater financial recovery expected this year, I believe more must be done to build and nurture relationships between big and small business communities.
In 2014, we need to see a concerted effort from big businesses to play a greater role in helping small businesses finding themselves in need of support in order to reach their full potential. In the UK, we’re incredibly lucky to play home to 4.8 million of the world’s most dynamic SMEs, and by applying our assets we can improve their chance of success – funding, mentoring, skills training or even something as simple as free office space can all provide invaluable support to helping a small business grow.
But it’s not just a one way street. Big businesses too can reap the rewards from building intelligent relationships with smaller players. As new technologies surface, small businesses are constantly being given new opportunities to thrive, their size enabling them to adopt early and swiftly. Big business should take inspiration from the agility of the small business or start-up, perhaps adopting elements of their culture in order to harness a similar ethos. Dedicating resource to innovation and forming small teams dedicated to capturing ideas in their infancy can both be extremely useful in helping big business feel as energetic and vibrant as the start-up. And initiatives such as the Government’s recent Business Exchange are creating further momentum in helping British businesses of all shapes and sizes gain the most value out of one another.
Make the most of technology
The second is about how we use technology to connect our organisation. As a nation, we have never been better equipped than we are today when it comes to our digital infrastructure. Superfast broadband, 4G, smart devices and investment in connecting our physical infrastructure such as the railways means there’s never been a better time for businesses to stay connected.
So this year, it’s vital that we capitalise on the UK’s technological infrastructure to help our businesses continue on the road to growth. This could be as simple as giving staff access to 4G on their mobiles to allow them to work as efficiently as possible if out of the office.
With the right technology in place, instilling a smarter culture in your workplace has never been easier; allowing staff the freedom to shape their own working days and equipping them with the tools that will enable them to do this. Such an investment can not only prove itself valuable through the enhanced productivity of the existing workforce, but it also gives businesses the freedom to look beyond geographical borders when it comes to new talent. A company based in London for instance can easily employ people located in Edinburgh or Newcastle, with the right approach to smarter working policies. In this way, businesses can build bespoke teams of people more easily than ever before.
Staying connected holds the key for the year ahead. Whether that involves a coffee with a start-up, building a crack team of in-house innovators, upgrading to 4G or just allowing staff to work from home once a week, it’s incredibly important. If all businesses make staying connected one of their priorities for 2014, I believe there’s a real chance that we can turn tentative economic progress into tangible economic recovery.
