From the top 6 June 2018

This entrepreneur is campaigning to share 100 growth lessons from UK’s most successful businesses

Startup scale-up growth lessons entrepreneur
“UK entrepreneurs exceed at coming up with bold, ambitious ideas”
Writing for Business Advice, Guy Tolhurst, a seasoned mentor to entrepreneurs and founder of Intelligent Partnership, offers his take on what startup founders need to do in order to scale-up their company in 2018.

In terms of startup creation, the UK is second only to Silicon Valley 660, 000 companies were established here last year alone. it’s often said that were a “nation of shopkeepers”, and that attitude hasn’t much changed in the digital age. it’s just that instead of greengrocers, we have thousands of small firms disrupting and revolutionising every field bar none. Today, we are a nation of startups.

But in terms of graduating from startup to scale-up from building an offering to seeing it grow exponentially the UK lags drastically behind its global counterparts, moribund in thirteenth place.

This needs to change. UK entrepreneurs exceed at coming up with bold, ambitious ideas, but often, I think, lack the financial nous and resilience to see them flourish into world-beating organisations.

it’s all very well creating a culture that engenders outstanding startup creation, but something is amiss if we don’t succeed in going beyond that. More importantly, as we face the uncertainty of Brexit, it’s paramount that businesses possess the tools to scale-up and stay up.

Fast growth companies are job engines, and according to one estimate by banking group RBS even a one per cent increase in the number of successful scale-ups could result in the UK’s collective payroll increasing by 288, 000. Some 99 per cent of UK firms fall in the SME bracket their future is our future, and they should be treated with fervour.

To grow, it is needless to say that fundingis crucial. We recently undertook extensive research which proves a positive correlation between taking on equity investment and fast growth. It seems obvious, but to many it is not.

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Equity

 

Revealed: Britain’s 25 startup equity investment hotspots

The British Business Bank produced a league table of city councils and local authorities to demonstrate which sectors and regions were pulling in the most private investment.

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Often, founders focus on building a great product, but lack the business acumen to understand taking on strategic investment that will see the business blossom. This isnt their fault. The investment waters are muddied what is available and from who isnt obvious.


 
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