7 Jun 2013

Why We Are Behind the SaveMOSI Campaign

Why We Are Backing the SaveMOSI Business Campaign

On Tuesday, the Manchester Evening News ran the shocking story that the Science Museums Group, which operates the Science Museum in London, the Museum of Science and Industry in Manchester, the National Media Museum in Bradford and the National Railway Museum in York, was planning to close one of the out of London sites in a response to cuts in grant funding by the Government.

We responded within minutes to calls for a campaign to oppose this move as we believe that not only is MOSI a spectacular facility, it is a huge financial and marketing asset to the Greater Manchester economy.

Very quickly an informal group of businesses had been established and within hours of the news breaking we began our contribution by marshalling support via social media by creating and managing a @saveMOSI Twitter account.

With the help of high profile figures such as Alastair Campbell and the Guardian’s Zoe Williams this first step has been very successful, but it is only a first step.

To understand why it is important that the business community puts its shoulder to the SaveMOSI campaign, it is worth looking at what cultural institutions contribute to the economy.

· The economic benefits of the UK’s major museums and galleries are estimated to be £1.5 billion per annum

· In 2009 UK museums and art galleries helped to secure £1 billion of inbound visitor spending

· MOSI itself attracts over 800,000 visitors per year, injecting spend directly into MOSI itself supporting over 100 jobs, but also generating regional, national and international tourism spend in the city

· More than half the visitors to MOSI are from outside Greater Manchester.

More than the facts and figures there is pride at stake that Manchester could lose a jewel in its crown and that is simply not on.

This is an urgent and substantial task that is only three days old, but we hope that you will sign up at the www.savemosi.org website and as the campaign plan develops in detail in the coming days - hopefully with your support – we can begin in earnest to show that the local business community will not stand on the sidelines with the threat of closure hanging over a great asset.

8 Oct 2012

SME Finances

Is Free the Most Expensive Option for SMEs? SME Finances

SMEs are increasingly relying on partners and family according to a study – but is this sustainable?

A study by Direct Line revealed that around half of very small SMEs need unpaid work by the owner’s partner or family to survive.

This trend has increased since 2008 as companies shed administrative staff to make ends meet but is this sustainable as the economy at least stabilises and possibly shows faint signs of growth?

The owners who turn to this resource say their partners work on average two days a week (with one in four working three or more days a week), nearly a third (31 per cent) do not pay their partner any money at all.

Amongst the findings, the survey revealed that nearly one in five of those questioned employed their partner as a receptionist, 14 per cent as a legal or finance assistant and eight per cent get support from their other half in a sales or marketing position.

Most of the work is on a part-time basis, with the average hours adding up to about two days a week.

Direct Line for Business’ head, Jazz Gakhal, said it was an encouraging sign, “Small businesses are crucial in re-energising the UK economy. It is therefore, heartening to see partners working together to help sustain these small companies.”

But is this sustainable? As the economy picks up, partners may not have the time themselves to carry out unpaid work and a “make do and mend” mentality can be hard to shake off and obscure growth opportunities.

Survival is the key priority for too many small businesses but the danger for those that have growth potential is in undervaluing professional, experienced input even though it may cost more in the short term.

Too many businesses create their own glass ceiling because the owner is so busy trying to juggle too many plates that real growth opportunities are either missed altogether or not grasped with appropriate resources.

The problem for SMEs is finding a way to add high performing resources without the risk to cash flow or from hiring someone who turns out wrong after the honeymoon period.

A part-time director of finance, HR or Marketing can be the solution by bringing all the benefits of senior input without the financial or cultural risks.

SME Finances

Nigel Sarbutts

Local Business Partners

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8 Oct 2012

SME Business Confidence

“Yo-Yo Confidence” is the real danger to growth SME Business Confidence

News from the BDO Employment Index that hiring intentions are down but optimism is rising highlights the “Yo-Yo Confidence” problem that is holding SMEs back.

Business Desk North West notes that

“The weakening index reflects recently published official figures, with unemployment rising to 8.1% and job vacancies falling back in August. BDO‘s index, part of its monthly Business Trends report, recorded a score of 90.7, a 28-month low.

However, the report also suggests optimism rebounded last month, continuing a pattern of ups and downs in confidence over the last four years.”

As indications from surveys and reports move and up and down the confidence scale, businesses find themselves forever at the crossroads of wanting to move forward with plans and steal a march on competitors but held back from hiring the kind of high performing individuals that can deliver growth.

“The risk of putting perhaps £80,000 and more on the salary line is a massive decision for an SME, but many business owners know that they will only develop their potential if the owner is freed up from wearing so many hats that the strategic work of growing a business gets lost in the fire fighting” says Oli Randell, founder of Local Business Partners.

“When faced with this endless uncertainty what SMEs need is a practical way of bringing high calibre people into the business at the lowest possible risk”

“Many businesses will have considered hiring a director of finance, HR or marketing to achieve high performance but baulked at the commitment risk and cost.

By using a part-time director on flexible terms, Local Business Partners can deliver the same results at about half the cost.

How? By putting in three controls.

1) Control how much senior input is needed each month to achieve the business’ goals.
2) Control how efficient a director needs to be. Think how much senior time is spent on non-essential tasks. Decide what’s needed and don’t pay for all the other things that end up being delegated upwards.
3) Control the term of engagement. Hiring a director is a big decision and what if the chemistry isn’t right after the honeymoon?

“If business owners wish to explore this high performance at low-risk approach, the ideal first step is free half day appraisal” says Randell.

SME Business Confidence

Nigel Sarbutts

Local Business Partners

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28 Jun 2012

A new kind of business support network launches in ‪Manchester‬

Local Business Partners offers SMEs‘on-tap’ directors of finance, HR and marketing

A new kind of business support network offering flexible, senior support in finance, HR and marketing for SMEs has launched in Manchester.

Local Business Partners is aimed at business owners who need director level expertise to drive growth but for whom hiring a full time director is too great a commitment or cost.

The company has assembled a growing network of senior specialists in all three areas who work on flexible terms, taking the risk out of growth decisions.

All the members the of Local Business Partners network have had successful careers in large blue-chip organisations and have gone on to create their own individual advisory companies. LBP claims that this combination of plc experience and SME entrepreneurialism is what is lacking in many traditional advisory companies and mentoring schemes.

“Our network is unique in combining knowledge gained at the highest level with the passion of being small business owners. We think that SMEs want not just expertise but the commitment that comes from actually running a business yourself” says Oli Randell, the founder of Local Business Partners.

Randell has had a career in finance with multi-nationals like Nestle and now works with Beer & Partners the VC and angel investment firm. His co-founder Nigel Sarbutts is a marketing specialist who was on the UK board of global PR firm Burson-Marsteller before setting up his own consulting practice in 2010.
Pro Manchester News:

Local Business Partners will work with their clients as part-time directors of finance, HR or marketing to free business owners to concentrate on strategic actions affecting growth and putting in place procedures and campaigns based on experience with high performing companies.

Assignments are based on a simple pricing model with a commitment from as little as half a day a month which can be scaled up or down as the business requires it, avoiding the risk of a full-time appointment in terms of cost and commitment to if the person turns out not to be ideal.

“Small business owners have to spin so many plates that strategic opportunities are lost but it’s a massive financial and organisational decision to free yourself up by bringing in a director who is likely to cost £100,000 and more” says Randell. “The alternative has been to outsource to an accountant, lawyer or hire a consultancy firm, but none of these offer advisors whose fortunes are so closely tied to success measures as our own entrepreneur advisors.”

The company is initially targeting SMEs within an hour of Greater Manchester and says its ideal client is an established business of between £2m to £20m turnover which is capable of growth or improving its performance through a revised finance, HR or marketing plan.
www.localbusinesspartners.co.uk

Written by Natalie Asprey: http://www.pro-manchester.co.uk/new-kind-of-business-support-launches-in-manchester

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19 Jun 2012

Innovator Randell targets SME growth with new venture

BUSINESS consultant Oli Randell has launched an innovative new business aimed at helping SMEs grow.

Mr Randell – who won pro.manchester’s Professional Innovator award this year – is the majority investor in Local Business Partners – which he says will fill a gap in the market by helping SMEs implement advice already available.

Aimed at established companies in Greater Manchester with a turnover of between £2m and £20m Local Business Partners will provide its clients with finance, HR and marketing expertise from a growing network of specialists.

One of his partners in the venture is established marketer Nigel Sarbutts, who as well as being one of the advisers, has a stake in the business.

The partners will work part time with clients and be focused on helping them grow by forming, or executing growth strategies they already have in place, It will give SME owners access to director-level advice without them having to incur the cost to hiring a full-time executive.

Mr Randell said: “I am passionate about small businesses – we are a small business ourselves – so we know well what the challenges are. Our network is unique in combining knowledge gained at the highest level with a passion of being small business owners.

“We think SMEs want not just expertise but the commitment that comes from actually running a business yourself.”

He says Local Business Partners is complementary to, not competing with services such as the Business Growth Hub and local chambers of commerce.

“These services are great – but we are not just about advice – but action. Business coaches and mentors by their nature are not about delivery, what we will provide is support to the business owner during a critical phase of growth.”

LBP’s assignments are based on a simple pricing model with a commitment from as little as half a day a month. Its flexibility and cost-effectiveness avoid the risk of a full time appointment.

The Business Desk written by Chris Barrie

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18 Jun 2012

New Kind of Business Support Network Launches in ‪Manchester‬

A new kind of business network offering flexible, senior support in finance, HR and marketing for SMEs has launched in Manchester.

Local Business Partners is aimed at business owners who need director-level expertise to drive growth but find hiring a full-time director is too great a commitment or cost.

The company has assembled a growing network of senior specialists in all three areas who work on flexible terms, taking the risk out of growth decisions.

All the members of the Local Business Partners (LBP) network have had successful careers in large blue-chip organisations and have gone on to create their own individual advisory companies. LBP claims that this combination of plc experience and SME entrepreneurialism is what is lacking in many traditional advisory companies and mentoring schemes.

Oli Randell, one of the founders of Local Business Partners, said: “Our network is unique in combining knowledge gained at the highest level with the passion of being small business owners. We think that SMEs want not just expertise but the commitment that comes from actually running a business yourself.”

Randell has had a career in finance with multi-nationals like Nestle and now works with Beer & Partners the VC and angel investment firm.

His co-founder Nigel Sarbutts is a marketing specialist, who was on the UK board of global PR firm Burson-Marsteller before setting up his own consulting practice in 2010.

Local Business Partners will work with clients as part-time directors of finance, HR or marketing to free business owners to concentrate on strategic actions affecting growth and putting in place procedures and campaigns based on experience with high performing companies.
Assignments are based on a simple pricing model with a commitment from as little as half a day a month, which can be scaled up or down as the business requires it, avoiding the risk of a full-time appointment in terms of cost and commitment if the person turns out not to be ideal.

“The alternative has been to outsource to an accountant, lawyer or hire a consultancy firm, but none of these offer advisors whose fortunes are so closely tied to success measures as our own entrepreneur advisors.”

The company is initially targeting SMEs within an hour of Greater Manchester and says its ideal client is an established business of between £2m to £20m turnover, which is capable of growth or improving its performance through a revised finance, HR or marketing plan.

www.localbusinesspartners.co.uk

GM Chamber News written by Simon Cronin

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18 Jun 2012

Blue-chip advice on hand at hourly rates

A consultancy offering the expertise of blue-chip directors to small firms on a by-the-hour basis has been launched by two Manchester entrepreneurs.

Oli Randell and Nigel Sarbutts have set up Local Business Partners at the University of Manchester Incubator Building.

They are targeting companies with turnover of £2m-£20m ready for expansion but wary of hiring permanent senior staff. LBP has signed up 16 partner consultants with skills ranging from finance to human resources and marketing.

The duo say all of their consultants have had successful careers in large blue-chip organisations and have gone on to create their own advisory companies. LBP directors can be hired for around £100 per hour, with a minimum hire of one hour and a ‘typical’ relationship likely to last several years.

Mr Randell, 35, has had a career in finance with multi-nationals including Nestlé and works with angel investment and venture capital organisation Beer & Partners in Manchester.

He said: “Our network is unique in combining knowledge gained at the highest level with the passion of being small business owners. We think SMEs want not just expertise but the commitment that comes from running a business yourself.

“Small business owners have to spin so many plates that strategic opportunities are lost, but it’s a massive financial and organisational decision to bring in a director who is likely to cost £100,000 and more. The alternative has been to outsource to an accountant, lawyer or hire a consultancy firm.”

Mr Sarbutts, 47, who also runs the Brand Alert marketing agency in Manchester, says LBP will be of particular use to SME owners keen to introduce a more formal corporate structure.

Written by Simon Donohue at MEN Business News

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14 May 2012

What do Successful Businesses have in Common?

These 10 traits show up again and again when examining the reasons behind business success.

How does a company become successful? Despite the bad news we so often hear about the number of businesses closing or moving, the news really isn’t all that bad: Thousands of businesses start-up every year, and a good percentage of those companies have learned what it really takes to survive the early start-up years and become successful enterprises.

Successful Businesses share common traits and here are 10 qualities identified in many thriving small companies:

COMPANY CULTURE

Culture is defined as the “integrated pattern of human knowledge, belief and behaviour that depends upon man’s capacity for learning and transmitting knowledge to succeeding generations.” For successful companies, culture is about attracting and hiring the people who would be most successful in that specific organisation. And it’s about driving the behaviour that makes the company successful.

CUSTOMER SERVICE

Simply defined, customer service means taking care of your customers. Many companies integrate customer service into their business culture through training and the design (and frequent redesign) of relevant business processes. In most cases, the business plan dictates how they will provide quality customer service.

ATTITUDE

As the owner of the company, you must have a positive attitude and accept 100% of the responsibility for the results of your business. When you accept responsibility, you can act to make the necessary changes to accomplish the desired results. Then, when success is achieved, you’re generous in giving credit to others within the organisation. Without exception, the most successful business owners understand that it’s all about people: hiring and retaining the right people, eliminating ineffective people and providing the necessary resources for employees to master their tasks.

BUSINESS STRATEGY

A complex strategy or business plan isn’t necessary to achieve success. A simple one-page document will do, but it should be well thought out and well executed. A poorly crafted business plan that’s well executed is far superior to the well-crafted business plan that sits on the shelf collecting dust. A good business plan defines and drives the activities and behaviours of the entire organization. Without it, the business becomes a ship without a rudder; it simply can’t be steered and ends up going around in circles. A sound strategy should include a financial plan, marketing differentiators, and product strategy as well as a plan for employee retention.

DISCIPLINE

Discipline is all about executing the strategies and then staying the course. It’s about staying focused on your core markets and measuring success as defined by your business strategy. It’s not about overreacting to market changes and adjusting your core strategy to keep up.

RISK

Owners of successful businesses aren’t afraid to take calculated risks with clear outcomes in mind. Most owners who take risks do so because they recognise the need to change as the economic climates changes, and they understand it’s disastrous not to embrace change. Successful business leaders understand that being in business is about managing and responding to change. Companies that succeed embrace change and respond to challenges presented by the market, the competition or changes in general business conditions.

FINANCIAL PLAN

An important attribute is the creation of a financial plan and budget and then having the discipline to follow it. A financial plan reminds owners where and how to spend money, and it provides ways to measure progress or shortfalls. A sound financial plan is the cornerstone of a great business plan.

MARKETING & SALES

Effective marketing efforts perform different functions around unique selling environments. For example, business-to-consumer enterprises have completely different marketing needs than business-to-business companies. Having a good understanding of the pains your clients are experiencing and how your product and services stop that pain can help you understand how to market to your customers–and that’s critical to business success.

Successful owners know that the concept of selling is a process that can be measured and improved, like all business processes. They talk about the importance of having a consistent, measurable and repeatable marketing & sales process, and they engage professional sales trainers to help create consistency within their selling process.

TRAINING

Because we live in a world of continuous change, it’s more important than ever to implement a culture of continuous learning. For many successful owners, continual investment in training is a major contributor to success. For training to be successful, however, there must a direct link back to the business plan and an understanding of how training supports the successful implementation of the business strategy.

TEAM OF ADVISORS

Successful business owners know the importance of having trusted advisors. They know they can’t know everything and they search out advisors they can trust. They usually preferred to pay for this advice because they were looking for someone who would challenge them, hold them accountable, ask them important questions and introduce them to others who could help them when necessary.

Local Business Partners provide Part Time directors of Finance, HR & Marketing resource, bite sized to your business, to help your organisation get to the next level.

Contact Us Now to discuss how we can help.

Blog by Oli Randell

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14 May 2012

The Value of Business Advice

Extract taken from: Forbes Insights, Small And Medium-Sized Enterprises: Rebuilding A Foundation For Post-Recovery Growth

SME owners may be independent spirits, but they don’t run their businesses alone. In fact, the most successful businesses call on a network of formal and informal “experts” to get the business advice and information they need to manage their businesses more effectively.

It’s hardly a surprise that many SMEs seek advice from reputable or trusted sources. This has long been part of the SME mentality—without having significant resources in-house, they will turn to outsiders to get the information they need. And this kind of behaviour was revealed in the October 2010 survey.

For example, 80% of respondents said they sought some kind of outside advice related to financial management, with 41% turning to their accountants, 20% calling on their bank or other credit provider, 16% going to their local business association or chamber of commerce, and another 16% reviewing these issues with professional colleagues and networks.

RECOMMENDATIONS

Businesses can benefit from investing in improved management information that provides owner/managers with enhanced control over risk. While this can involve changes to management and information systems and the procurement of expert advice, such investments can be quite small compared to the value of business opportunities foregone due to continued uncertainty.

Professionals and businesses must work together to demonstrate, through regular financial reporting and robust cash flow and business planning, that funds will be put to uses that providers of capital are comfortable with.

Businesses should make use of financial and credit information on their customers and ensure theirs is also available to prospective trading partners to a level of detail and currency proportionate to their needs. They should also seek out appropriate credit management training and tools, which can help ensure that they offer safe amounts of credit to the right customers and on the right terms.

For a large percentage of SMEs, however, the use of advisors has less to do with their status as “professionals” or “experts” and much more to do with how well connected they are with trade and professional networks. These businesses need trusted generalists with a wide range of skills and contacts.

More business owners should seek professional advice on an on-going basis, in order to build strong relationships with advisers who truly understand their business.

Local Business Partners provide Part Time directors of Finance, HR & Marketing resource, bite sized to your business, to help your organisation get to the next level.

Contact Us Now to discuss how we can help.

Extract taken from: Forbes Insights, Small And Medium-Sized Enterprises: Rebuilding A Foundation For Post-Recovery Growth

http://www2.accaglobal.com/pubs/general/activities/library/small_business/sb_pubs/SMERebuildingAFoundation.pdf

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2 Apr 2012

Future Pro Manchester Crowns City’s Top Innovator

Manchester based Oli Randell fought off stiff competition from fellow professionals from across the city to be awarded the title of Professional Innovator 2012 at an awards ceremony held at Manchester’s prestigious Hilton, Deansgate.

Aimed at recognising innovative flair in rising stars from the financial and professional services community across the city, the entrants took part in a series of challenges around the themes of ability to adapt, creativity and persuasive power written by a judging panel of leading business experts.

Randell is Managing Director of Local Business Partners a unique and innovative business advisory firm providing Finance, HR and Marketing experts to North West Small Businesses, he is also the Manchester associate for Beer & Partners The Business Angel Network. He has previously held roles at Siemens, O2 and Nestle.

beevers_struthers Before clinching the title Randell faced a gruelling interview with the panel of judges which included Baker Tilly’s Mark Blakemore, MMU’s Clare Schofield, Mike Ryan, Andy Harrison of The English Sports Institute and Andrew McLaren of challenge sponsors Beever and Struthers.

As Professional Innovator winner 2012 he wins an iPad2, a TW steel watch, 8 hours training with innovation consultant David Crowther and a personalised development programme from experts at MMU. A student winner was also announced on the evening as Dijesh Patel of BPP Business School. The Challenge was sponsored by accountancy firm Beever & Struthers.

http://www.pro-manchester.co.uk/future-pro-crowns-citys-top-innovator

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All posts tagged Manchester

Why We Are Behind the SaveMOSI Campaign

SME Finances

SME Business Confidence

A new kind of business support network launches in ‪Manchester‬

Innovator Randell targets SME growth with new venture

New Kind of Business Support Network Launches in ‪Manchester‬

Blue-chip advice on hand at hourly rates

What do Successful Businesses have in Common?

The Value of Business Advice

Future Pro Manchester Crowns City’s Top Innovator

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