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Appendix 2 Enterprise M3 ‘Barriers to Growth’ Business Survey 2011

Appendix 2 Enterprise M3 ‘Barriers to Growth’ Business Survey 2011. Summary of Results. Sample: Turnover/Size. 451 CEOs and senior management surveyed (435 quantitative data) between July-October 2011 On-line survey, telephone research and face-to-face meetings

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Appendix 2 Enterprise M3 ‘Barriers to Growth’ Business Survey 2011

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  1. Appendix 2Enterprise M3 ‘Barriers to Growth’ Business Survey 2011 Summary of Results

  2. Sample: Turnover/Size • 451 CEOs and senior management surveyed (435 quantitative data) between July-October 2011 • On-line survey, telephone research and face-to-face meetings • Respondents were ‘self-selecting’ in the main • Sole trader & micro business combined for 59% • Broad range of businesses by Turnover • Size by headcount reflective of economy

  3. Sample: Sector • Data cut by sector, size and location to identify issues • A fairly equal split: ‘Services to public’ (24%), ‘Industrial & Distribution’ (24%), Services to business (23%), Other (29%)

  4. Sample: Location • Split into broad location groupings to ensure sample size • Little variation between locations confirming Functional Economic area of Enterprise M3

  5. Business confidence • 64% forecast expansion over the next 2-3 years

  6. Growth expectations • Significant growth is expected in T & P over the next 12 months • 50% of businesses expecting increased T&P by up to 10% • Headcount to rise but not at same rate, suggesting ‘smart growth’

  7. Barriers to Growth • Fairly equal split • Survey design didn’t anticipate ‘red tape’ being such a big barrier • Other; primarily global economic climate

  8. Barriers II: Skills

  9. Barriers II: Skills cont’d • Basic skills issue for all, especially, 34% of SMEs • 34% of Larger businesses have shortage of Level 4+ • Basic skills = ‘Work readiness’ • Skills NOT an issue for 50% micro businesses

  10. Barriers III: Difficulty accessing finance • 65% of businesses have difficulty accessing finance • 32% business growth, 25% cash-flow • 2% start-up, but established companies

  11. Barriers IV: Transport • 93% agreed congestion to be ‘better’ or ‘much better’ than Reading

  12. Barriers V: Business premises • Affordability ( 33%)and supply (39%) biggest issues for businesses which stated premises to be a barrier • Other included, business rates, parking, unfair relief for charity shops

  13. Barriers VI: Planning • 39% of business interested in strategic business engagement • 44% requesting faster turnaround for planning consent to assist with business planning • Only 5% wanting the removal of planning permission

  14. Barriers VII: Location • 79% of employees live within Enterprise M3 • Not a ‘quality of life’ issue • 83% cite supply and affordability of housing as a barrier for employees • ‘Cross-fertilisation’ of work and live across EM3 • 94% of businesses are ‘unlikely’ or ‘very unlikely’ to relocate out of Enterprise M3 area.

  15. Enablers to Growth

  16. Enablers to Growth: Key points • 25% of businesses surveyed cited ‘Getting people with the right skills’ as an important enabler of growth. This was consistent across the whole of Enterprise M3 area • ‘More flexible employment regulations’ would be an enabler of growth for 11% of businesses across EM3 • 33% of businesses located in Surrey/Blackwater Valley considered ‘Better productivity and innovation’ the most powerful enablers of growth in comparison with 28% across the whole of EM3 • Access to customers and markets are considered a less powerful enabler to growth for businesses located in Surrey & Blackwater Valley than the rest of EM3. Whereas 35% of those businesses located in Rural EM3 considered ‘Access to customers and markets’ to be most important enabler of growth

  17. Growth strategies • Internal ‘good housekeeping’ strategies: Sales & growth, Costs, P&L and Operations, People and organisations • Of those interested in international opportunities; 27% increasing overseas suppliers, 63% sales • SMEs and micro business particularly interested in exploring new international opportunities

  18. Growth strategies II: Skills • 44% of businesses address skills shortage by up-skilling workforce • 38% investing in young people

  19. Barriers: Competition Customers Finance Government Infrastructure Legislation Macro economics Skills Enablers: Customers Finance Government Innovation and productivity Macro economics Skills Support What businesses are saying…

  20. Priority Actions? • Reduction of legislation and ‘red tape’ and championing of more flexible employment regulations, including the turnaround time of planning consents • Assistance in accessing finance • Lobbying for infrastructure improvements and funding • Facilitation of education establishments and business to ensure skills, and qualifications, are relevant to business needs • Support to enable better productivity and innovation, and increased access to customers and markets.

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