Despite all the time off, it has been a good week for brand Britain. The royal wedding has promoted it on the global stage and our entrepreneurial spirit has been lauded in a new study. In addition, StartUp Britain, a private sector campaign to encourage SME activity, has received a boost.
The royal wedding, which was beamed to billions of people around the world, was a great advert for the country, and this is perhaps where the value lies for the business sector. While some businesses will be totting up profits from sales of bunting, flags and other patriotic effects, this is only a short-term gain. The longer-term benefit should be in the way the event has promoted the country. SMEs, in particular those operating internationally, will hope that the feelings of goodwill will be transferred to the balance sheet.
Continuing with the theme of entrepreneurial spirit, StartUp Britain announced the expansion of its StartUp Saturday scheme, in which weekly classes are held to help those wanting to set up their own businesses to take the first steps. Topics covered include small business finance.
The involvement of US company Staples has drawn some criticism from those who believe the campaign should be entirely UK focused, but this attitude smacks of short sightedness. Staples, which has a growing presence in the UK, has merely made its space available free of charge. As far as we know, no UK rival has made the same offer. At a time when SME development needs nurturing, and more information surrounding commercial finance, bank loans, marketing, etc. is required, such investment should be welcomed.
Indeed, according to a new study by the Global Entrepreneurship Monitor, entrepreneurial spirit remains alive and kicking in the UK, and has remained at a recession-defying level in recent years. If this aspiration is going to help improve economic conditions, encouragement and education of those at the helm is a must.
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