What else do Private Businesses need to continue their success?

28 May 2015

By Ruby Parmar, Private Business Partner

It's just under a week to go to the final judging session for this years UK Private Business Awards sponsored by PwC.  Looking back over the 5 years since I've been involved in co chairing the judging session and the many many interviews and meetings I have conducted with the nominee companies, I can't help reflecting on the fond memories and the first hand narratives from private businesses on their challenges, growth stories, people agenda and much more.

So what are some of the themes?  Family Businesses showed resilience through the downturn with many making bold decisions to continue with capital investments, whether that's been building new factory facilities or expanding into new operations, all of which are beginning to show returns.  There has been significant innovation evidenced by the multitude of new start ups not only in the technology space but also traditional sectors using disruptive technology.  Exports and internationalisation are on the up and I am astounded by the creative skills of our budding entrepreneurs introducing technologies you could scarcely imagine a few years ago. All in all a crucial sector to our economy and, despite all the success stories, needs continued investment to ensure that those that fail due to lack of investment and finding or simply the complexities of doing business have a chance to thrive and make their valuable contribution. The latter is not only the job of the Government through tax incentives and business support bodies but all of us in the wider private sector whether that's by making investments, sharing networks, bank lending or simply mentoring and experiential support.

Again this year I am inspired and proud of the businesses we have unearthed, comforted by their economic viability and staggered by their resilience and determination to succeed in tough markets in the UK and abroad.  The judges, including Angus Thirwell, founder of Hotel Chocolat, Sir Stuart Rose, former CEO and Chairman of M&S, Mark Pears, Head of the William Pears group and Hayley Parsons, founder of GoCompare.com, will have the difficult task of picking the winners!

Good luck to all of these fantastic and mostly unsung hero's of the business world.

Contact details:
Email: Ruby Parmar
Tel: +44 (0)207  214 7152
Twitter: @RubyParmar1



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