Timpson promotes simplicity at IoD conference
DELEGATES at the Institute of Directors’ (IoD) annual conference heard the boss of Timpson promote the virtues of simplicity and Wayne Hemmingway champion market stalls as the breeding ground of big business.
More than 170 directors and business owners attended the IoD’s North West gathering at the Lowry Hotel in Manchester yesterday.
In addition to Mr Hemingway, founder of fashion chain Red or Dead, and James Timpson, managing director at shoe repair firm Timpson, the speakers included, Simon Biltcliffe of Webmart, Phil Jones of Brother and Robert Peston, the BBC’s business editor.
Mr Timpson said: “The most important people in any business are the ones who put the money into the till. Treat people like adults and be aware that there are so many simple things that can be put in place that will amaze your people.”
Mr Hemingway stressed the importance of offering young people a the platform to get a business started. He said: “Young people need the opportunity to have a go. Some of the biggest entrepreneurs in the UK started with small stalls on local markets, but we are in danger of losing this breeding ground for entrepreneurs.”
IoD chief economist Greame Leach gave his verdict on the Budget, explaining that the Chancellor George Osborne delivered was positive despite the overall economic constraints facing the UK, and Mr Peston warned the economy was still on “life support”.
He said: “There are three answers to our current predicament – we need to consume less, invest more in skills and sell more of our products overseas. None of these are easy to achieve, which is why recovery is slow. The UK faces a huge culture change to years of consumer spending built on debt to recover.”
