100 Stories of Growth - Insights from Entrepreneurs

A time of great transformation The business environment is evolving, even down to the very ways we define success. There seems to be a renewed confidence in the impact that innovative, scaling businesses can have on the world around them. Leaders are no longer satisfied with just a healthy balance sheet, they’re also striving to make a positive difference to society and power progress in the UK. Indeed, innovation and supporting R&D have been a clear focus for the government, as seen in its welcome Industrial Strategy and the new deals being brokered to support Britain’s prowess in emerging areas, such as artificial intelligence (AI). We heard in April of a deal between government and industry, in which 50 leading businesses have contributed to the development of a £1bn plan to put the nation at the forefront of AI. Our technology success Britain’s tech industry is certainly flying. The latest reports from Tech Nation suggest that the digital tech sector grew 2.6 times quicker than the rest of the economy between 2016 and 2017. This growth is reflected across many of BGF’s portfolio businesses, in particular our earlier-stage group, which is in large part driven by digital. Take for example Trouva, which is creating an online marketplace for global bricks-and-mortar boutiques. But we must not forget that fast growth – and the progress it brings with it – is not merely seen in the technology sector, because technology increasingly drives all businesses and sectors in one way or another. I can say with confidence that the bright sparks of innovation and productivity can be seen vividly from all sectors. From manufacturing and energy, to business services, hospitality and healthcare, we are a nation of passionate and ambitious creators. The importance of diversity For the UK to build a sustainable economy, it must create and support a diversity of businesses across all regions. We can’t put all of our eggs in one basket and with such a wide range of skills and talent in every corner of the country, there is no reason we should. Having more strings to our bow will bring resilience and will help us to meet any economic hurdles that this age of uncertainty might throw up. I’m delighted to say this diversity is illustrated by the companies BGF is supporting. Look at PPS, a Midlands-based packaging manufacturer weening industry off single-use plastic, or the spectacular structures achieved by advanced timber technology company Accsys. Everywhere we look there is invention and at BGF, we’re excited and inspired to support this with investment, experience and advice. The future may be uncertain, but one thing is clear – with such an inspiring crop of innovative, scaling companies, based in all corners of the UK – the future is bright. 83 82 THOUGHT LEADERSHIP BGF www.bgf.co.uk For further information or to understand how the BGF team can help you and your business, please contact: The bright sparks of innovation and productivity can be seen vividly from all sectors. From manufacturing and energy, to business services, hospitality and healthcare, we are a nation of passionate and ambitious creators.