Business Support
Business support has a vital role to play in the regional economy. Small businesses often need support and advice on a wide range of topics from planning and tax, to marketing and advertising.
The FSB's major survey and report 'Lifting the Barriers to Growth in UK Small Businesses 2008' revealed that:
- The sources of business support most commonly used by small firms are customers, suppliers and professional services such as banks, accountants and solicitors, and informal sources such as family and friends. At the same time, the internet is emerging as a recognized source of business support.
- Businesses are most likely to seek business support at start-up, and once established for increasing their sales, raising capital, improving their network of contacts, increasing their confidence, and improving or introducing new products or services.
- In the East Midlands 34% of businesses claimed to use Government funded business support (e.g. Business Link)
Work of the East Midlands Policy Unit
Within the East Midlands, emda is responsible for developing and reviewing the region's Business Support Strategy. They have awarded the contact to manage the Business Link service to East Midlands Businesses Ltd.
In April 2007, the service provided through Business Link changed to the 'Information, Diagnostic and Brokerage (IDB)' model which addressed many of the issues that the FSB had been lobbying on for many years, such as the quality of business advice, confusion over service provision etc.
The FSB's East Midlands Area Policy Unit continues to monitor progress with regards to the IDB model for business support. We were been involved in the 2008 review of the Business Support Strategy. and the 2008 Regional Assembly Scrutiny Review into Business Support.
As the economy took a downturn, we lobbied for a change in focus of publicly funded business support. We are pleased that emda responded with a package of measures to aid business survival, as well as supporting business growth. We were particularly pleased with their series of Survive and Thrive events.
Our next focus is preparing for the upturn in the economy, and ensuring that members have access to the support that they need as trade levels begin to pick-up, and business confidence returns.