Step up your Game

You’ve had the big eureka moment but how do you transfer all that greatness in your head into reality? Many business owners are teeming with great ideas that could drastically improve business but they simply don’t have the expertise or the funds to develop their ideas further. If you want your idea to be a game-changer, then do not be afraid seek help.

The UK has rapidly changed into an ideas economy. We manufacture in a different way and SMEs are at the heart of this. SMEs are crucial in the development of the UK’s economy. We can’t afford to sit on our ideas and let them go unnoticed. They need to be developed and implemented, not just for the good of your business, but in order to contribute to an improving economy. SMEs need to stick together, taking advice from each other and looking out for each other’s interests, for the good of the whole economy.

So how can you grab your opportunity to step up your game? There are two main issues that businesses come across – funding and expertise. This post will explore the ways you can overcome these hurdles.

Funding

I have recent experience of one particular funding scheme. Pathway is now collaborating with Pera Technology on a record breaking new product development fund to support innovation in European SMEs. The scheme, promoted by Pathway Group and backed by Pera Technology, is part of the EU Horizon 2020 initiative which has committed a massive €82 billion to furthering research and innovation in organisations with a particular focus on SMEs over the next 5 years. Individual businesses will be able to claim up to €3 million for new product development, so it is a wonderful opportunity to turn an idea into reality.

The funding scheme is much easier to access than previous budgets, and UK SMEs have been particularly successful in accessing it. SMEs have been identified by the European Commission and national governments within the EU as the source of future economic growth, so funding is more of a priority than ever.

A funding scheme could be the boost your business needs to take things to the next level. The EU Horizon 2020 initiative is not the only scheme available, of course. There are many options, and it all depends what you wish to achieve from funding. If you want to explore your options, checking out other people’s experiences here is a great place to start.

Expertise

Funding may not be your main issue. A lack of knowledge could also be holding you back. There are plenty of places you can turn to for advice online, such as www.smallbusiness.co.uk. You can become a member of The Guardian’s Small Business Network for free (https://register.theguardian.com/small-business/) to receive regular expert advice. Joining a Local Growth Hub can also be very beneficial (http://www.lepnetwork.net/about-leps/the-network-of-leps/). Local Growth Hubs bring together public and private sector partners to promote, co-ordinate and deliver local business support and provide a mechanism for integrating national and local business support so it is easy for businesses to access.

If that doesn’t quite cut it, you may wish to consider getting an expert in to assess your business and discuss your ideas. For example, you may have an idea to improve your business’s online presence but aren’t entirely sure how to execute it. Expert advice from a digital marketer could make all the difference. Investing in expertise from consultants will pay off in your business development in the long run. Pathway Group can offer advice and guidance to help you get on in business.

Don’t miss your chance to contribute to the UK’s ever-growing ideas economy. Your next light-bulb moment could take your business from good to great.

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