Study will address needs of small businesses

The impact of small businesses on the economies of Devon and Cornwall and the ways in which they can continue to flourish are to be analysed in a new study by Plymouth University.

Conducted by the University’s Futures Entrepreneurship Centre, the research will aim to gather the views of business owners, and allow them to access in-depth information about how they might improve their competitiveness.

The online study asks owners about the nature of their business and the number of staff they employ, as well as any plans for growth they are pursuing and factors which might assist them in their plans.

It aims to establish their attitude towards staff development and training, and any particular areas relating to that which they feel need to be addressed over the coming years.

And it poses questions about national and international issues such as the 2008 recession and climate change, asking how these have affected the companies and altered their future plans.

Professor Gideon Maas, Director of the Futures Entrepreneurship Centre, said: “SMEs are a vital cog driving both the regional and national economy, and ensuring their future success is key to securing increased prosperity across the country. National figures show that SMEs provide 59.1% of jobs, and are responsible for 48.7% of private sector turnover. Understanding the factors that determine the durability of SMEs will allow the development of best practice, and this vital information can be communicated to entrepreneurs and SME owners.”

The research is one of the first major projects undertaken by the Futures centre, which was launched in November 2013 as a focal point for entrepreneurial education and research, providing a range of academic courses, support, mentoring and networking opportunities.

It is one of the University’s many enterprise initiatives – including three innovation centres in Cornwall and the Peninsula Growth Acceleration and Investment Network (GAIN) – and links with partner schools, colleges and businesses across the South West, and international partners such as the US-based Babson Global Consortium for Entrepreneurship Education.

Those completing the survey will also be invited to a one-day workshop, at which small business owners, policy makers and academics will come together to discuss how innovation can enable growth within the small business community.

It will feature keynote speakers including Professor Maas, Prof Shahid Ansari (CEO of Babson College’s Global Consortium for Entrepreneurship Education), Adam Stone (Chief Executive of Rokk Media), Dominic List (Chief Executive of Comtact) and Professor Julian Beer (Pro Vice-Chancellor for Regional Enterprise at Plymouth University).

To complete the survey, and find out more information about the workshop, visit www.southwestfutures.com