The Business Desk : Social Enterprises vital to post COVID-19 recovery Financial Times: Starting a business in the midst of a pandemic The Times: Number of new companies set up this year is likely to break record The Times: How small businesses can get one over the big boys in Zoom revolution IPSE: IPSE sets out… Read more
Rural businesses in parts of England have shown remarkable resilience during Covid-19 by innovating and adapting in response to the severe economic challenges of the pandemic, according to a major new survey from the National Innovation Centre for Rural Enterprise (NICRE) led by the Enterprise Research Centre (ERC). More than a third of rural firms… Read more
The Institute of Small Business and Entrepreneurship Conference in Cardiff, October 2021, was a joyous occasion that brought researchers together face-to-face for the first time since the COVID-19 pandemic began. The paper awarded ‘Best in Conference’ analysed UK policy to protect the income of small traders and microbusiness directors during COVID19, asking whether the policy… Read more
Published this morning read the latest ERC Research paper and Blog looking at how UK COVID-19 emergency public support measures, furlough funding and loan guarantees during the pandemic have influenced firms’ future investment intentions and employee wellbeing. Click here for the Research paper Click here for the blog
Over the last year businesses across the country have been supported by the government through the furlough scheme, loans and grants. But what effects have these schemes had on firms and how will this shape their performance in the future? It’s early days of course and the impacts of COVID-19 continue to be felt in… Read more
The National Innovation Centre for Rural Enterprise (NICRE) is asking rural and farming businesses in the North East, South West and Midlands how they are dealing with COVID-19 to explore the lesser-known area of rural resilience. There is little research about how small firms in rural areas manage crises and how they recover so NICRE… Read more
2020 was a terrible year for UK trade. Overall, UK exports in goods contracted by almost 15%, down by £54.5 bln[i] in the twelve-month period, this is even worse than the contraction seen in the UK economy as a whole, which was just under 10% in GDP terms. [ii] Furthermore, the early 2021 bilateral trade… Read more
The dire consequences of the COVID-19 pandemic on many firms across the UK continue with depressing implications for employment and future prosperity. The government has invested heavily in supporting businesses through the furlough scheme, loan schemes and rate relief. The strengths and limitations of these measures have been widely covered in the media, but less… Read more
ERC’s 2020 State of Small Business Britain is now out. And what a year it has been for the UK’s small businesses. ‘Unprecedented’ must be the defining word of 2020 and our latest report looks at how the unprecedented events of this year have translated into impacts on and actions by small and medium enterprises… Read more
Over 40% of UK’s small and medium-sized firms report COVID-related hit to turnover, while 3 in 10 forced to cut jobs Around 200,000 firms could be close to collapse based on analysis of those trading insolvently or running out of cash But a fifth of firms report positive impacts from the pandemic, with many embracing… Read more
Ask anyone working with small business owners and they will tell you great stories of how mentoring and training can transform people and their businesses. Each of these stories is important in its own right. In terms of policy, however, this type of anecdotal evidence is of little value in terms of justifying public investments… Read more
Is now a good time to start a new business? In this FT article published this morning, ERC Deputy Director Mark Hart says we could be seeing an uptick of “crisis entrepreneurs” adding that these are people who have lost their job during the pandemic and have no other choice in the current labour market than… Read more
Published today the GEMUK 2019 report sponsored by NatWest shows UK early-stage entrepreneurship hit a new pre-pandemic high in 2019. However, this may be in jeopardy because of the effects of the crisis combined with significant gaps in support for people in the early stages of enterprise formation. The Global Entrepreneurship Monitor (GEM) research consortium… Read more
Thousands of businesses across England will remain shuttered today as the new month-long coronavirus lockdown takes effect. Citing new scientific evidence showing an expected surge in cases nationwide over the coming weeks, the Government finally bowed to pressure and abandoned its previous regional tiering strategy last weekend. Critics argue that a sharp ‘circuit breaker’ lockdown… Read more
Global Entrepreneurship Monitor report calls on policymakers to create right conditions for an enterprise-led economic recovery worldwide. Policymakers around the world must provide clear advice and practical support for entrepreneurs to ensure global economies recover from the devastation of coronavirus, a new report says. Presenting a snapshot of support measures introduced by… Read more
The impact of policy decisions can play an important role in entrepreneurial success. A new GEM report: “Diagnosing COVID-19 Impacts on Entrepreneurship – Exploring Policy Remedies for Recovery”, sponsored by Shopify, features over 50 GEM research teams around the world sharing how their government’s response to COVID-19 compared to previous crises and the entrepreneurship policy… Read more
While some of us have been able to work at home during the Covid-19 crisis – and may have actually improved our productivity – this has not been the case for most of those involved in research and development (R&D). Lock-down has meant no access to laboratories or the specialist kit needed, so many R&D… Read more
Some small companies have adapted in the Zoom revolution with the ability to compete with larger rivals as potential customers , suppliers and partners no longer expect physical meetings. New article out today by David Wighton in the Times with comment from Mark Hart suggests that the crisis has boosted the efforts of small companies… Read more
Business News Wales: Lack of support for workers’ mental health “cuts firm productivity by a quarter” IPSE: IPSE sets out case for more support for self-employed in latest Treasury Committee evidence
The ERC have partnered with business support organisation Oxford Innovation to create a new GROWTHmapper® Recovery diagnostic and recovery planning tool. The tool helps SMEs assesses their immediate and future needs in the context of the Covid19 crisis, working in conjunction with an accredited GROWTHmapper® coach or advisor. A suite of tools developed by the… Read more
For a long time, the UK has produced many firms that perform poorly yet manage to survive. Various descriptions of these firms have been used. In recent debates about productivity for example they have been referred to as ‘the long tail’ of underperforming businesses. Shortening the long tail has been identified as a policy priority… Read more
Business Support Tools : Oxford Innovation GROWTHmapper® Recovery ERC have supported Oxford Innovation in the creation of the GROWTHmapper® Recovery diagnostic and recovery planning tool. The tool helps SMEs assesses their immediate needs and, in conjunction with an accredited GROWTHmapper® coach or advisor, creates an effective business management and recovery plan for the current Covid19 crisis. A… Read more
Mark Hart authored a blog for The Aston Angle looking at how businesses will be impacted by the COVID-19 pandemic. Some sectors may benefit financially, while others will suffer huge losses. Those countries with more service-oriented economies, like the UK, will be more negatively affected and will suffer larger negative employment effects. The UK economy was… Read more
Lorry drivers on tight schedules. Pet owners demanding more from their vets. Sales and service staff working from home with little access to office support. Archaeologists staying in hotels as a way of life. Hospitality staff working longer than contracted hours to make ends meet. Short-term contracts restricting access to finance. Ex-Army personnel with PTSD… Read more
On May 12th Mark Hart was an invited speaker on the Re-booting start-up policy in response to the COVID-19 crisis OECD webinar with participation of delegates from the Working Party for SMEs and Entrepreneurship (WPSMEE) and Local Economic and Employment Development (LEED) Committee.
Bouncing back from the Covid-19 crisis: reflections on mental health and resilience Firms that survive adversity often have the abilities, characteristics and actions of their employees to thank. As many reflected during Mental Health Awareness Week last week, it is worth remembering that the current crisis will undoubtedly have impacted upon the mental health of… Read more
Professor Mark Hart, Deputy director of the ERC whose research shows many self-employed are slipping through the safety net joined the BackinBusiness team for this podcast alongside two self-employed people to discuss the impact of the lockdown on their businesses, Government loans and disappearing customers which are all of concern at this time. Listen to… Read more
It seems increasingly clear that the economic impacts of COVID-19 will be startlingly sharp for the UK and other world economies. The great unknown at present is whether the historic quarterly contraction we’re expecting to see in Q2 of 2020 is followed by a rebound, or a deep and painful recession. What’s also difficult to… Read more
Over the last decade, the landscape of SME finance has changed dramatically. In the aftermath of the financial crisis, while traditional bank lending experienced a sluggish recovery, a new model of online marketplace (P2P) business lending emerged. Funding Circle, started in 2010, was the world’s first P2P platform to fund business loans and seemed to… Read more
News release: 20 April 2020 New data shows a spike in limited companies going out of business – coupled with a big decline in new starts – has hit all regions and sectors since the start of March New data suggests the UK economy is facing a worrying “pincer movement” due to the coronavirus pandemic,… Read more
The Government’s various coronavirus support schemes aim to provide a safety net for both employees and the self-employed during the suddenly-imposed ‘lockdown’ period now affecting the UK economy. But while the headline measures announced by Chancellor Rishi Sunak over recent weeks – including the Coronavirus Job Retention Scheme (JRS) aimed at employees, Coronavirus Business Interruption… Read more
Published today this ERC rapid review Insight paper considers the existing evidence on the business effects of pandemics, with a particular focus on the impact on small and medium enterprises (SMEs). Evidence from previous pandemics is reviewed, and in addition, we provide an overview of early assessments of the emerging evidence on the business impacts… Read more
Critique and Proposals to Develop More Comprehensive and Inclusive Support for the SelfEmployed. Research Report. April 2020 Birmingham Live: Coronavirus crisis could mean 100,000 jobs lost around Birmingham, expert warns Radio Interview on You-Tube Telegraph : Blackhole of financial support threatens to ‘decimate’ generation of entrepreneurs Mirror : Seven million workers to be paid by… Read more
Lack of provision for most vulnerable self-employed in measures announced by the UK Chancellor last week threatens to “decimate a whole generation of early-stage entrepreneurs”, report authors say. More than 750,000 self-employed people in the UK could miss out on Government support during the coronavirus pandemic, a new analysis has shown. The findings from… Read more
Over the last few days we have seen some inspiring and innovative responses to the Corona Virus crisis by UK firms and universities. The JCB-Dyson collaboration to produce ventilators and the UCL-Mercedes AMG collaboration to develop other breathing aids are outstanding examples. Necessity is the mother of invention after all. But what of the wider… Read more
As in the UK, significant parts of small and medium-sized enterprises (SMEs) in Germany are affected by the corona virus pandemic. In this difficult economic situation, the Federal Government in Germany has sent a very positive signal with its comprehensive support measures targeted not only at large corporations, but also at medium-sized, small and micro… Read more
Given last week’s government announcement of the stimulus bill meant to mitigate the effects of the COVID-19 crisis on the UK economy, it is important to recognise the implications for women broadly, and self-employed women more specifically. Such bills are notoriously gender blind, thus discounting the impact on the extent to which self-employed women are… Read more
After a wait that felt like an eternity, self-employed people finally got some clarity yesterday (March 26th) on how the Government intends to support them during the coronavirus pandemic. Chancellor Rishi Sunak’s Self Employment Income Support Scheme (SEISS) was more generous than many expected. The headline is that self-employed people will be able to claim… Read more
With the COVID-19 pandemic threatening to shut down the economy, we’re working with Aston Centre for Growth to turn the podcast’s attention towards how SMEs are dealing with the crisis. This special series is called ‘Aston means business: SMEs dealing with COVID-19’. In each episode, we’ll be talking to current and previous business participants in… Read more
It took less than a week following the Chancellor’s Budget the package to feel woefully insubstantial given COVID-19 developments and the impact on the economy, businesses and jobs. As expected, he was on his feet again this week with a much bigger suite of measures aimed at supporting businesses with costs and cashflow. “Whatever it… Read more
