Pandemic sees South West companies collaborate not compete
Businesses across the South West worked more closely together in 2020 despite the economic challenges of the pandemic.
A survey of over 100 companies by Collaborate South West found that over two thirds increased levels of collaboration with other organisations, with 80% believing collaboration to be extremely or very important to their business success moving forward.
A similar number 64% said the experience of lockdown has made them believe collaboration for business is more important than ever before.
Despite the closure of many workplaces, as millions of people had to adapt to home working, collaboration with colleagues also increased for almost half of businesses 46%, enabled through technology and setting up support and new ways of working for home-based employees.
The survey of business owners and directors was designed to uncover changes in how organisations have worked during the pandemic, and whether physical remoteness has had a positive or negative impact on collaboration.
Mandy Swift, co-founder of Collaborate South West, said: “The seriousness of the situation, and the ‘we’re all in it together’ mentality has led to more businesses working together and more business leaders supporting each other, than ever before.
“Whilst there has been huge economic impact in key sectors, the trend for closer collaboration, if maintained after the pandemic, could really help drive the recovery that is so essential to the South West’s economic future.”
Just 18% of business owners and directors collaborated less during the pandemic.
Sally Basker, CEO at Exeter Science Park, said: “The benefits of collaboration will only increase as companies return to workspaces and bring with them the learnings of using technology to connect, communicate and work together in new ways.
“In technology and science, the ability to turn ideas into tangible business outcomes, create teams with the optimum mix of specialists and build successful organisations that deliver real impact, has collaboration at its core. It’s what we do at Exeter Science Park, supporting a brilliant array of companies at different stages of their growth."
Collaboration is also seen as vital for individual development for the region’s business leaders. Some 68% rated collaboration as extremely or very important for their personal development.
New ideas, new business and new relationships are seen as three key benefits for a business leader adopting a collaborative approach. Partnerships, extending geographic reach and learning about new opportunities were the next most popular reasons.
Trust, having a two-way relationship with others and gaining new ideas and perspectives from real-life business experiences were seen as the most important elements to achieve effective collaboration.
Annabel McCabe, co-founder of Collaborate South West, said: “In a tough year it is encouraging to see how businesses worked together and how business leaders talked, supported and helped each other. As we move into 2021, Collaborate South West is focused firmly on working with our members to build on the cooperation and collaboration fostered by the challenges of the pandemic across the region.”
Businesses that took part in the survey also set out their priorities for the coming 6-12 months in the survey, with growth, survival and supporting customers the top three.
Tony Cockayne, Partner at Michelmores, said: "Michelmores has increasingly recognised the importance of collaboration both internally and externally. An example of external collaboration is something called the Collaborative Legal Network.
This is a referrals and support network for law firms across the south-west and nationally. The network is focused on being genuinely collaborative and aims to provide a friendly and professional service where we can assist clients to find the appropriate expertise".
Collaborate South West, launched during the pandemic, is working with business leaders across the region, fostering original solutions and growth through knowledge sharing and responsive partnerships.
The full findings of the survey are available at www.collaboratesw.co.uk/collaboration-in-business-survey-2020-results
