Leeds City Region: Developing small businesses is vital to success
BUSINESSES have highlighted the importance of developing the pipeline of small businesses and emerging talent in the Leeds city region.
For businesses of all sizes and entrepreneurs to succeed, a two-pronged approach is needed if companies are to receive the support they require, according to deputy regional director for Yorkshire and Humberside Santander, Jonathan Rostron.
He said: “On one hand we need to be working with the universities and growth programmes for green shoots of talent and on the other, we want to support established SMEs that already provide a solid base of jobs for the region and are now looking to invest to take their business to the next level.”
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A relationship between businesses and universities is proving to bring success for many of the region’s firms.
Huddersfield-based Paxman Coolers recently formed a research partnership with Huddersfield University that has resulted in improved technology which eliminates or minimised the problem hair loss during cancer treatment. The collaboration will lead to further improvements in the scalp cooling caps designed and manufactured by Paxman Coolers.
PR agency Lucre has also developed a “hugely beneficial” relationship with Leeds Metropolitan University. The agency recruits graduates and offers student placements.
According to leading business people in the Leeds city region, the area must focus on developing its pipeline of small businesses and do all it can to nurture its growth.
Will Oxley, practice leader of Grant Thornton’s Leeds office, thinks the last few years have been good for the city region’s businesses, as redundancies force people to take the leap and set up themselves.
He said: “It’s in risky times that entrepreneurs make the most money – investing in the curve ahead of growth.”
Mr Oxley said that a lot of entrepreneurship in Yorkshire is at the SME end and the focus should therefore be on engaging in that market.
Business figures in the region have also emphasised that access to cash is vital for growth.
Dr Matt Stroh, associate director at Grant Thornton said: “We need to make sure the business support is communicated in a way that smaller and start-up businesses can engage with and that they feel speaks to them.”
