100 Stories of Growth - Insights from Entrepreneurs

77 76 INSIGHTS FROM ENTREPRENEURS CONCLUSION and qualitative research studies have focused on business leaders’ experiences, ideas and beliefs about a specific blend of capital: emotional, human, intellectual and financial capital. At the heart of every scaling business is a very human story. People who strive to bring their ideas to life. They’re creating jobs, increasing value for their financial providers, and boosting the nation’s wealth and optimism. Many are helping the wider economy to understand how to achieve productivity gains that many established industries simply cannot replicate. We have to remember that entrepreneurs are real people. And if we remind ourselves of this at all times, we can help them create an entrepreneur’s toolkit that will deliver optimum outcomes and success for all. We have to understand that people need assistance, guidance and advice as they grow their businesses. We also know that company founders and business leaders need to look for the right kind of help, from the right people at the right time on their scale-up journey. Lifting the veil on entrepreneurs’ wellbeing and mental health Our research finds that greater awareness and open discussion about entrepreneurs’ wellbeing and good mental health are very important. While each individual will of course find their own way of dealing with any challenges they face, the SME ecosystem shares a responsibility to provide support and understanding. We have to remind ourselves on a regular basis that we are dealing with the people behind a business. Some will sail through with few problems, but others will encounter a much more challenging journey. If we can work together to acknowledge and support everyone’s needs in the way that we are able, we’ll lay the foundations for fully functioning human interactions that we’re part of every day. Creating effective relationships to drive success We have heard time and again that people run businesses, not technology, spreadsheets or algorithms. When we’ve spoken to entrepreneurs about what has driven their success, they almost all agree that their teams, advisers, financial The UK is a great place to grow and scale a business today. Entrepreneurs in every part of the country are making their impressive dreams a reality, tapping into the great supply of talent and energy from all corners of the globe. They are selling their ideas to the investment and financial communities, raising vital funds to take their businesses to even greater heights. Many company founders we’ve spoken to have their sights firmly set on global success, helping the UK to dispel concerns that it will continue to lag the leaders in the international scale-up rankings. Every day, their enthusiasm, drive and commitment are evident in the small and medium-size enterprise community. These entrepreneurs are creating truly motivational and inspirational stories for everyone to share. We know that many entrepreneurs have overcome severe challenges and cleared difficult hurdles – and have become stronger and more prepared to excel along the way. Other founders and business leaders are finding their feet, trying to build up that all-important resilience that comes with learning from mistakes and failures. This takes time and energy. And founders need to feel they are being heard and supported. Across the 100 Stories of Growth campaign, we have investigated in detail how the shifting emphasis of capital is shaping scale-up entrepreneurs’ experiences. Some areas are working very well, but other aspects need more attention and care. The campaign team has talked to over 250 growth-focused and scale- up entrepreneurs. Our quantitative CONCLUSION The UK is a great place to grow and scale a business today At the heart of every scaling business is a very human story. People who strive to bring their ideas to life. They’re creating jobs, increasing value for their financial providers, and boosting the nation’s wealth and optimism.