For those who follow me on twitter you will have seen I am rather pro EU… So the outcome of this post will come as no surprise. But as we move into the final hours of campaigning before this critical vote, I wanted to take 5mins of your time to outline why I truly feel we are Strong In the EU and why the UK must be a strong and leading figure in the EU moving forward.
The 2015 G20 Young Entrepreneurs Alliance Summit took place in Turkey. It was the 5th G20 YEA summit and this years one happened where two great regions come together, Istanbul, the meeting place of Europe and Asia. A chance to share cultures, share business ideas and share learnings.
I am a firm believer in the power of passion, you must truly believe in something to make a difference.
For me politics is all about passion. It isn’t about spin, PR or negative campaigning. It is all about passion – passion for something that you believe in so much that you are willing to put your head and shoulders above the parapet and shout for it. It isn’t about a career, it isn’t about climbing the political ladder, it isn’t about power, it is about wanting to make a real and lasting difference for the whole of society, from top to bottom.
It is not often you get to travel to Caribbean for work, but in December 2014 that is exactly what I was lucky enough to do!
I was invited by the Commonwealth Secretariat to take part in a 3day visioning workshop they were running in Barbados. The purpose of the workshop was to pull together key youth organisations from across the Caribbean region and Canada, (I have put a full list at the end of this blog), to see if there was a way they could work together to create a strong regional voice for young entrepreneurs. I was invited to share the lessons I have learnt through my work with the G20 Young Entrepreneurs Alliance and the European Confederation for Young Entrepreneurs.
The theme of this years Global Entrepreneurship Week (GEW) was connections, but can connections work for you? And if so what is the value it can bring to your start-up?
On the Thursday of GEW a, standing room only, event was held at the House of Lords, it was a joint effort between Young Brits and YBI and was a shining example of the advantages that networking and connections can bring when done in the right way. The event focused on the international dimension, it pulled together young entrepreneurs from the UK who have recently attended major summits that have been run across the globe by the G20 Young Entrepreneurs Alliance and the European Confederation of Young Entrepreneurs as well as over 100 attendees and even the Prime Ministers Enterprise Advisor, Lord Young, asked to attend!
The key question that was asked, was can attendance at international summits for entrepreneurs really add value to your business. Tomasz Letniowski, Founder of Traductio, (attended G20 YEA Summit, Australia 2014), had this to say, “attending these summits offer unparalleled opportunity to network with influential business leaders from all over the world. However it is important to remember that once the connections are made you must look at how you maintain them.” Amy Barker, Founder of Monks & Co, (attended European Confederation Summit Greece 2014), went on to say, “being included in these international events have provided our business with incomparable networking opportunities with some inspirational established businesses. Networking with such advanced entrepreneurs aspire us to push further in our own enterprise and have provided contacts which have helped develop our business strategy’s further.” Nathaniel Peat, Founder of Gennex, (attended G20 YEA Summit, Canada 2010), summed it up well by giving a practical example of the benefit, “these types of summit have assisted the international development of my company directly, meeting like minded people, learning best practices, getting a contact database and establishing business relationships. As a result my company has now expanded into Africa the Caribbean and is operating with partners in Asia, Europe and soon the USA.”
A few other boarder topics came up a number of time during discussions, and one was superbly articulated by Manuel Pinuela, CTO, Drayson Technologies, (attended G20 YEA Summit, Australia 2014), “It was great to hear across the panel that having the ability and the resilience to take risks and tolerate failure is becoming an important and recurring point to improve the entrepreneurship culture around the world.” Perhaps unsurprisingly the theme of mentoring, access to finance, coordinated support and access to market also came up during the sessions and it was extremely positive hear panellists and audience members mentioning the Start Up Loans scheme that is helping startups get access to finance and the IoDs Young Director Forum that is doing a lot of work around mentoring and support.
Finally, at a time of political sensitivity around Europe, it was extremely positive to have at the event a strong presence from the European entrepreneurship scene and to hear their insights/ thoughts on the UK and Europe. This was best summed up by Dimitris Tsigos, who is not only the President of the European Confederation of Young Entrepreneurs but is also founder of a tech start up in Athens, Greece and has also recently launched his business in the UK. Dimitris had this to say, “The UK represents an amazing success story of governmental policies for promoting high growth and innovative entrepreneurship, being a true role model for Europe and the World. I was delighted to be involved in discussing the various ways international cooperation of Young Entrepreneurs can help them and their ventures take off, including the amazing opportunities that are possible for all young entrepreneurs if the UK and Europe and continue to work and grow together.“
It was a real pleasure to be involved in such a successful event, one where there was a tangible buzz in the air, and one where the networking went on until the early hours! But let me finish with the words of another one of the great entrepreneurs who kindly took part. Daniel Rajkumar, Founder of Rebuilding Society, (attended G20 YEA Summit, Russia 2013), “participation by members of the House of Lords along with a strong European contingent shows formidable government support for global entrepreneurship. May the inspiration motivate us all to do more & long may these positive initiatives continue.”
Many thanks to everyone who took part and to all those who attended. If you want to be involved in delegations to future international summits please contact me directly on: firstname.lastname@example.org
– Alex Mitchell, Director, Young Brits
The fifth and final blog post in this series is a quick wrap up from me.
There is no point in pretending that Europe is perfect, it isn’t and there are many things that need changing, but there is a lot right with it. As I have pointed out in a pervious blog post, as a member state of the EU, we are part of the world’s largest single market that has a total GDP of circa £11 trillion, an economic zone larger than the USA and Japan combined! In the EU there are 500 million people, and, although it is far from perfect, it is a fairly level playing field for UK businesses. There is also an absence of custom duties and a common set of rules, which means you don’t have 27 different sets of country regulations to be aware of and adhere to.
On the figures side, as it currently stands, over 50% of foreign direct investment to the UK comes from other EU member states. 40% of our exports go to the EU and they are tariff-free. These exports help to support over 4 million UK jobs and are worth in excess of £200 billion to the economy.
So, it is hugely important we remain active and engaged in and with the EU.
In the UK we are seeing unprecedented levels of business start up, with 526,446 new businesses being set up in 2013, however, business failure rates are high, recent stats show that of those 526k starting up, circa 20% will fail within the first year and circa 50% won’t be around by 2016. When companies manage to get through the start up stages, are established and have the potential to grow they are faced with numerous challenges on how to develop their market, increase their reach and develop new opportunities.
One area that is often over looked for start ups and small businesses is overseas markets. Yes, the risks are high, but if you have the right introductions, meet the right people and have access to market intelligence, then the opportunities are equally high.
For me it is always a huge privilege to take groups of young entrepreneurs on these types of delegations. The event in Athens was a great example in the benefit of bringing like minded people together, providing a degree of inspiration, challenge them to actively contribute and encourage them to meet, network and work with one another. You can see the connections being made and future business partnerships already being developed. I hope the past blogs in this series really help to give you a young entrepreneurs insights and advantages of being involved in delegations of this nature.
But what about overseas market intelligence? It can cost a lot and it is difficult to find exactly what you are after. There are numerous ways of getting this are low or no costs, UKTI can help, as well as membership bodies like the IoD, but I wanted to flag up an initiative I have recently come across, that I have been hugely impressed by, it is Santander’s Business Trade Portal. It is really impressive and all I will say is check it out, you wont be disappointed.
I would like to finish by saying a huge thank you to the organisations that helped pull the delegation together, these were the Start Up Loans Company, The Institute of Directors, Launch Pad Labs, the Young Brits Network and the G20 Young Entrepreneurs Alliance. And an even bigger thank you to the UK delegates themselves:
- Amy Barker, Founder of Director of Monks & Co Clothing
- Douglas Bell, Founder of Hideout and entrepreneur in residence at Launch Pad Labs
- Nathaniel Peat, Founder of The Safety Box
- Arina Sprynz, Founder of Rinz Sound
- Glynn Pegler, Founder of Culture Group
- Matt Kelcher, Advisor to the Labour Party Business Team
Its the end of the first full day of the European Confederation of Young Entrepreneurs here in Athens, and we’ve certainly been treated to a packed and varied programme so far.
The series of speakers has included a Dutch teenager who launched their first company at the age of 9 and a Dane for built his own rocket and is determined to fly to Mars. The panel discussions have looked at subjects from how entrepreneurs should bounce back from failure to how 3D printing will change business forever.
From all of these discussions it is clear how important entrepreneurs can be to the economic future of the UK and Europe as a whole. The minister responsible for small businesses in the Greek government highlighted how the creation of 10,000 high growth businesses is needed to address the unemployment crisis in his country. A similar number may be necessary in the UK.
It is clear from this conference that such goals are most definitely achievable in Europe. Ann Mettler, the Chair of the Lisbon Council think tank, powerfully challenged the idea that Europeans are too “safe” to be successful entrepreneurs.
15% of EU citizens are self employed she said, and this corresponds very closely to levels in the USA. Europeans also dream of pulling themselves up by their boot straps.
As someone who works in that infamous village located in SW1, my first thought has been how can politicians help entrepreneurs on their way. The message I’ve heard clearly is that the old division of big state versus small state is no longer the issue. European entrepreneurs want an enabling state, which creates an ecosystem where they can thrive, and then leaves them to do just that.
So how would this space look? Well three common themes seemed to have emerged so far.
Firstly, entrepreneurs need to be given space to innovate. There was acknowledgment from almost all the speakers that successful entrepreneurs have special qualities, which set them apart. Nonetheless they still need space to hone and practice these skills. Very few, even if they are born with the right drive and talent, can succeed without experience. This can come through learning from failure in a society, which does not see one business failure as an ultimate disaster. It can also come from being networked into people with similar ambitions but different skill sets, so that different entrepreneurs can share skills and ideas.
But most of all, many people at the event agreed with Candace Johnson, a successful entrepreneur from Luxembourg, who argued that Europe needs to shout more loudly about its business success stories to show more young people what they can achieve.
Secondly, many participants noted that government can provide the platform for young people to learn entrepreneurial skills early in their school careers. Britain’s Nathaniel Peat emphasised how business ideas can be integrated into the current curriculum and how this will inspire children to learn. Teach a child that 1 + 1 = £2 and you will have a captive audience. This was certainly the case with teenage entrepreneur Bastiaan Zwanenburg who spoke about his success, which came despite not having a huge interest in academia.
Labour’s Waltham Forest Council are already placing a designated “Enterprise Governor” on the board of each school in their Borough to achieve just this. This conference made me realise what an important idea this could be.
Thirdly, it was evident that high level commitment is required to produce a more entrepreneurial society. The Greek Manifesto, a set of ideas to improve the standing of entrepreneurs, which was launched at the conference, demonstrates this. Many influential figures from the world of business and government have signed up to this vision, making it far more likely it will be delivered.
Many speakers spoke about the need for the voice of entrepreneurs to be heard at the heart of government, and we particularly heard about Romania’s new Minister for Enterprise and Enterprise Mayor’s in Brazil. Labour wants to introduce a British Small Business Administration, staffed by business people, not civil servants, at the heart of Westminster to do just this. It was great to see this idea being discussed by Alex Mitchell from Young Brits at one of the panel sessions.
So a huge amount was covered today, and I’m sure tomorrow will be just as busy and interesting.
We’ve reached the end of the third and final day of the European Confederation of Young Entrepreneurs conference in scorching Athens. Today’s discussions built on many of the topics previously discussed, but at the same time took these talking points in new and interesting directions. The panellists for today’s sessions also seemed to come from even further and wider than before!
Education was again a hot topic, but where the conference had previously focused on the need to give very young children exposure to entrepreneurial ideas and values, today much talk was given to getting business education right at university.
Nadia Cheng a successful entrepreneur in the field of robotics, who flew all the way from the states to attend the conference, highlighted how effective a strong partnership between academia and start ups can be in the high tech sphere. However, she warned that ground rules must be laid down at the start to prevent the academic or institution claiming too much of the credit and profit. Members of the UK delegation indicated that this had also been a problem back home.
A second American panelist, Maxim Lobovsky, spoke about the successful start up culture at his university, where most students were preparing to start their own business whilst they studied and assumed the course they were studying would equip them to become successful entrepreneurs. This may be an attitude lacking in UK higher education.
At yesterday’s sessions, a running theme was the need for high level policy influence. During a keynote address, a former Obama Campaign staffer, Michael McGeary, talked about how he had achieved this by setting up “Engine” an advocacy group, which lobbies on behalf of start ups in the States.
He recognised that start ups usually have little time to slip away from their business to lobby politicians and policy makers. But if each of these contributed just a small slice of time, their combined voice could be huge. This is where “Engine” step in, as professional political strategists, representing a membership of tech start ups from across the 50 states. They have seen some large successes such as measures contained within the JOBS Act.
McGeary was particularly positive about the potential for a similar organisation in Europe. He noted that politics is not as directly influenced by money in Europe, and so a start up voice would not inevitably be drowned out by big spending corporates. Likewise, the existence of the single market allows lobbying of supranational institutions which could consequently make it far easier for European start ups to branch out and export.
The subject of finance was again discussed and it was repeatedly emphasised that money must come with mentoring and other networks of support, or it will be squandered. If there was one key message of the conference it would be around the need for ecosystems of entrepreneurs
Attendees got to try this out for themselves. Two representative from the European Commission gave delegates the chance to have their say on how a new huge pot of 79 billion Euros would be spent on future tech and infrastructure products. Many ideas were given from using the funds as prime inducement to solve issues like tax avoidance and over fishing, to using it all for tax cuts instead!
It certainly has been a fascinating three days in Greece which has really sketched out a direction of travel for any government, or potential government, who seeks to unleash their domestic entrepreneurial talent.
This blog post is by Amy Barker, Founder of Director of Monks & Co Clothing. Amy is a Start Up Loans recipient and was their loan recipient of the month in July of this year.
On day 1, after an explore around Athens, we arrive at Technopolis to kick start the summit. A huge highlight for me was Nathaniel Peat presenting on Social Enterprise. He explained his journey, what inspired him and briefly how he achieved what he has. I felt motivated by his story and ready to implement some of my higher aspirations that once appeared slightly intimidating. ’Entrepreneurs breed entrepreneurs’ and I couldn’t agree more. I always wanted to start a business but after an acquaintance had just ‘done it’, I decided with all the help and support currently available for young entrepreneurs with the Start Up Loans scheme there has never been a better time. The process was so easy in my application from start to finish and since starting my business I am aware of another young entrepreneur I have motivated to also just ‘do it’ and start their own business. Now we have been open 8 months it’s great to hear from other businesses at events like this, how they scaled up and achieved everything they have.
After the presentation we have a networking event over some food and drink. It was great to mingle with other businesses from so many different backgrounds in a more relaxed environment. My aim of the summit was to try and make some contacts that would help me grow my business by manufacturing my own brand of products, in particular high quality shirts and blazers. Conveniently I found myself speaking with a manufacturer from Egypt specialising in Egyptian cotton. As this is a new field for me I require his expertise on the manufacturing process, RRP and general guidance in the manufacturing industry. He is looking to open a shop in the UK selling Egyptian cotton bed sheets and home accessorise. Being based in Cairo without a presence in the UK means negotiation leases and finding shop units is increasingly difficult for him. Therefore we have found a mutually beneficial relationship and we have exchanged details and discussed having a meeting at his factory in September.
Since being back I’ve booked in a meeting with my business mentor, as I have so many ideas now I am looking forward to focussing them!
Day 2 started in an amazing venue called the Orange Grove, a flexible work space for young entrepreneurs to utilise. We had more discussions on a sustainable entrepreneurship future between Europe and the world and how to develop the ecosystem. However a true highlight for me was ‘what actually drives a teenage entrepreneur’ by Netherlands based Bastiaan Zwanenburg. Having a Fashion Tech company myself I was intrigued how this award-winning 17 year old set up an ecommerce site selling sunglasses. Having set up his company only 18 months ago his story was unbelievable. With over 1 million website views, over 10,000 Facebook likes and an amazing profit I was fascinated with how he had achieved so much. With the basic principles of business, buying cheap and selling with a great profit margin, they had a great website to support them and focussed on social and digital advertising where they knew there market would be.
I am totally inspired by Bastiaan’s business and afterwards went to introduce myself. We had a great conversation where we shared experiences and he took a look on our website and gave me some tips to drive more traffic to the site. We have since exchanged details and he has offered to provide me with some advice on growing our social presence.
The day ended with a networking event at the Dutch Ambassador’s residence which was an incredible experience. I spoke with somebody from the European Commission who was intrigued to hear my story and how I found setting up a business.
The whole event was not only extremely inspiring, it has directly helped my business through the contacts i have made and business i have met. It also gave me a great opportunity to speak directly to senior people from the European Parliament, enabling me to feedback directly my thoughts, challenges and expenses of setting up on my own.
Cant wait to the next one…
The purpose of The European Youth Entrepreneurship Conference (#EYEC2014) was to bring young entrepreneurs from across Europe together to mix with investors and political powers. Our host city was Athens; – Greece is, of course under intense pressure to reform, and to build on it’s burgeoning startup scene.
Two headline challenges were being addressed at the conference:
- Overcoming the fragmentation barrier in Europe
- Creating a European entrepreneurial identity
The conference involved a series of speeches & panel discussions over 3 days… helping entrepreneurs, venture capitalists and political forces to respond to those two challenges. Inspiring people like Candice Johnson (legendary entrepreneur & president of EBAN), Neelie Kroes (VP of The European Commission), Maria Pinelli (VP at E&Y, who was instrumental at both Google & Amazon at the very early stages), Pano Kroko (legendary entrepreneur, investor in Twitter/Skype), and a whole series of others geniuses were there to connect with European startup founders. It was an opportunity to discuss the big issues, and take away action points to push things forwards on a European level.
The biggest take-aways for me were that brilliant people are now advocating on behalf of startups, in many serious ways. And that there is massive political buy-in on a European level. Among others, The European Commission were there, asking how to design an incredible new venture fund called ‘H2020’ (Horizon 2020). ‘How can we invest €79 BILLION in ICT innovation?’ They’re serious. I have to say, the people leading this program are exactly the kind of people who should be doing it – they really do understand enterprise and innovation.
I was lucky enough to be there representing the UK as an entrepreneur delegate, with global ambitions for my startup Hideout. It was incredibly helpful. The networking value is impossible to quantify, so I’m privileged to have been a part of it. Many of the most valuable connections at these events happen informally, between talks, over drinks, and at random moments. EYEC was a very social conference, with drinking going on until sunrise, 3 days in a row – such was the level of energy between us as a group. Young entrepreneurs like to drink; a few world records may have been broken during these inspiring few days in Athens. The view from other founders echoes my own – this was a brilliant conference. We have all been inspired and energised by it. I’d also expect a huge number of cross pollination happening between delegates, investors and change-makers. If you get a chance to go yourself, snap it up. It will be an excellent investment of your time.
Earlier this summer Young Brits led a small delegation of young entrepreneurs and individuals within the youth enterprise space to Athens, Greece for the European Youth Entrepreneurship Conference. This is a new initiative created by the European Confederation of Young Entrepreneurs to help young entrepreneurs from all around the Europe exchange ideas and best practices, set up business ties and make their concerns and policy suggestions heard, especially towards the European Union leadership.
The Conference, kickstarted in Athens at the end of June and it will be held on a biannual basis at the EU member state holding the rotating Presidency of the Council of the European Union.
The conference brought together over 100 young entrepreneurs from across Europe to discuss how they can work together and collaborate with other stakeholders in the direction of overcoming the fragmentation barrier and creating the European entrepreneurial identity.
There was an impressive line-up of speakers from Europe, US, Latin America, the Middle East and Africa and the Leadership of the European Confederation of Young Entrepreneurs also published the “Declaration of Athens” at the conference ― This was a call to action for European young entrepreneurs to promote high growth and innovative entrepreneurship.
The UK sent a delegation of five young entrepreneurs (listed at end of this piece) to the conference who were running businesses in a wide variety of sectors. The delegation included competition winners/ membership ambassadors from the Start Up Loans Company, The Institute of Directors, Launch Pad Labs, the Young Brits Network and the G20 Young Entrepreneurs Alliance. The conference was also joined by a representative from the Labour Party’s shadow business team, to hear first hand about some of the innovative projects taking place in Europe within the youth entrepreneurship scheme.
The following blogs in this series are from some of the delegates and i have asked them to share their direct insights from the conference.
The UK delegation:
- • Alex Mitchell, Co Founder Young Brits and Founder of Causarma
- • Amy Barker, Founder of Director of Monks & Co Clothing
- • Douglas Bell, Founder of Hideout and entrepreneur in residence at Launch Pad Labs
- • Nathaniel Peat, Founder of The Safety Box
- • Arina Sprynz, Founder of Rinz Sound
- • Glynn Pegler, Founder of Culture Group
- • Matt Kelcher, Advisor to the Labour Party Business Team
The following post is from a piece that first appeared in Economia magazine on 4th July 2014 and can be found here.
Although there are issues in relation to accessing finance, it is extremely important for entrepreneurs to get their books in order before they try. Chartered accountants can help.
As anyone who knows me will confirm, I am passionate about enterprise and especially about supporting the UK’s growing ranks of entrepreneurs and start-up businesses.
I’ve spent the best part of the last decade learning lessons from the best in the UK and, through my work as UK President of G20 Young Entrepreneurs Alliance and on the European Confederation of Young Entrepreneurs, from around the world as well.
One common issue, regardless of whether you’re talking to those running businesses in Russia, Brazil, the US or the UK (and I have visited businesses in all these countries) is finance and access to finance in particular.
The last few years have been challenging for many in terms of access to finance, with the large banks busily following orders from regulators to de-risk. This flight from risk has offset the beneficial impact of low interest rates. Debt may be cheap, but the official figures speak to the paucity of lending activity. Regardless of whether that’s down to a lack of supply or demand (and there are arguments offered on both sides), there simply hasn’t been the money flowing through the banks that many hoped.
Nevertheless, entrepreneurs abhor an unfilled opportunity and the market has risen to this challenge, with the arrival of a seemingly endless array of new financing options. It wasn’t that long ago when a business seeking finance turned to the bank. If they were rejected, that was often that.
While a depressingly high number of entrepreneurs still don’t look far enough afield, the range of options open to them is bewildering. We’ve seen a sort of supermarket effect in the world of business finance. There is now at least a whole aisle of options for those seeking to raise finance. That was why the publication last week by the British Business Bank and ICAEW of a Guide to SME Finance was so welcome.
Choice is all the rage, but it is also confusing and the guide does a good job of explaining the different types of finance and helping those running SMEs make sure they get the right finance at the right time.
But there is another aspect to the financing of SMEs that is too often overlooked. The reason many applications for funding are rejected is because the business simply isn’t ready for finance. That might be down to poor internal controls and a lack of decent systems or a lack of a clear plan as to how the new money will be spent, how it will help grow the business and how this projected growth will make it more likely there will be sufficient resources available to repay the investment (and offer a decent return on it).
Too many otherwise successful SMEs are being held back because they aren’t finance-ready. And there is a knowledge gap in too many cases. Too many people running start-ups are also running scared of the numbers. For no real reason they feel that this stuff is the scary stuff. They didn’t start their own business to worry for hours about a VAT return, so why not just ignore it and hope those letters from HMRC go away by themselves.
But there is help available. In the UK a body called the Institute of Chartered Accountants for England & Wales (ICAEW) has a Business Advice Scheme which is a great example of the help on offer. The scheme allows small businesses to access a one-hour free consultation with an ICAEW member firm. It may be one hour that changes your business for the better, forever. As the recent founder of a business myself, I can vouch for the fact that the some of the most valuable advice I got was from my accountants.
They keep things simple for me and allow me to focus on running the business. Of course I pay them for their services, but they are closely aligned with my objectives and the more successful my business becomes, the more they’ll get rewarded.
If we really want the UK to thrive as somewhere that’s not just good at encouraging start-ups, but also at growing businesses, we need more of our companies to be finance-ready. For that to happen we need to encourage more people running SMEs to overcome their fear of the numbers and tap into the help that’s available. A more finance-ready Britain would ultimately be a more successful Britain.
I wanted to write a quick blog on the European Elections, which are taking place tomorrow (22 May). At the moment it seems to be fashionable to be anti Europe, but I am pro Europe, however I am not blindly pro Europe. I believe a combined voice is stronger in a global market than numerous individual ones, I believe that we can all mutually benefit from a strong globally engaged Europe, but I also believe it is important to keep the pound and to ensure we keep our financial independence. However, there are some very real issues with Europe: corruption, misuse of funds, is it really a level playing field and so on.
So the question is this, would the UK be better off being out of Europe?
My straightforward answer is no. Why do I say this? The UK is a member state of the EU, we are part of the world’s largest single market that has a total GDP of circa £11 trillion, an economic zone larger than the USA and Japan combined!
In the EU there are 500 million people, and, although it is far from perfect, it is a fairly level playing field for UK businesses. There is also an absence of custom duties and a common set of rules, which means you don’t have 27 different sets of country regulations to be aware of and adhere to.
On the figures side, as it currently stands, over 50% of foreign direct investment to the UK comes from other EU member states. 40% of our exports go to the EU and they are tariff-free. These exports help to support over 4 million UK jobs and are worth in excess of £200 billion to the economy.
I was speaking at the European Business Summit last week and the UK was mentioned time and again as a country that is leading Europe with cutting edge innovative businesses, excellent startup support and a ‘can do’ culture. Everyone I spoke to said how important it was for the UK to be a part of the EU, a senior Commissioner from France even told me that there was a lot the rest of Europe could learn from the UK!
So again, would the UK be better off outside of the EU? No way.
We are going to increasingly be competing against China and India, countries with populations north of 1billion, nations that are utterly driven in their growth strategy and their global market reach. To compete we need to be heard and being at the centre of Europe will be key to this. Also it is ultimately better to be inside ensuring the changes that need to happen do happen, than being on the outside complaining about the issues and running the very real risk of being sidelined.
Come tomorrow I will be voting Labour, for me it is party I am proudly a member of and one I strongly believe has Britain’s best interests at heart. It is your right to vote for who ever you want and regardless of who you vote for, please use your vote. It is the foundation of democracy and it has been depressing to see how low voter turn out has been in recent elections.
On a political front the only thing I will say is this, don’t believe some of the headline grabbing announcements that you may have seen from UKIP. If you believed their leader then we should now be inundated with Bulgarians and Romanians post the scrapping of visa restrictions at the start of the year. However recent figures clearly show that there are now 4,000 fewer immigrants than before the rule was changed! A lot of what they have been saying is just plain ridiculous, comments that are deliberately headline grabbing and play on a fear of instability, as jobs, houses and pensions seem so fragile. But a significant amount of these headline grabbing stunts are just not true. If they do as well in the polls, as is expected, there are just going to be a load of UKIP MEPs sitting in Brussels, representing you, that couldn’t care less about enhancing the UK’s position within the EU. How can that be good for the UK and for British business?
Use your vote and use it well.
For the record on the wider immigration issue, I personally feel immigration has made the UK stronger. We are arguable the most multicultural country in Europe if not the World and I feel one of the most tolerant. It is great to see so many languages, cultures and religions in the UK, it exposes us all to a truly global culture and it shows us that regardless of colour or creed we are actually not all that different. For a country it has made us a global nation, this is a huge competitive advantage on the international stage, one we should be proud of and not ashamed of.
Last week (31 March to 4 April) was responsible business week. This is a great new initiative, which has been set up by Business In The Community (BITC) and aims to inspire and equip businesses to unlock innovation and demonstrate the positive impact of business in society. On the Wednesday (2 April) there was a focus on responsible entrepreneurship and this is what I am basing this piece on.
To me responsible entrepreneurship is both a concept and a process that sees companies integrating social and environmental concerns in their business operations and interactions with all their stakeholders. It has to be driven from the top down and stakeholders must include both internal and external, customers and supply chain.
I like to think of responsible entrepreneurs as social innovators, not least because it kind of conjures up images of strangely dressed social super hero’s! However a responsible entrepreneur can create solutions to tough local and national social issues, whilst also ensuring commercial viability, thus increasing long term survivability and impact.
During the event there were three main speakers who I met and I wanted to share some of their thoughts and insights along with my own comments. First was Marcelino Castrillo, who is the Managing Director of SME banking at Santander. So why is one of the largest high street banks at a responsible business week event? They were a key sponsor, but their involvement seemed to be a lot more than that. Marcelion spoke passionately about his belief, and that of Santander’s, in the importance for all business to focus on education, enterprise and employment and the important business growth opportunities for SMEs that can be gained through responsible business practices. He also talked about the role that his bank can, and needs to play, in getting larger business supporting small business to create mutual benefit and growth, as well as the challenges that we all face in getting everyone, businesses and consumers, to think about sustainability and responsibility in all aspects of our lives. Finally Marcelino mentioned the wider positive impact that embedding responsibility at the core of your business can have, quoting that circa 80% of young people want to work for a company that has a positive impact on society.
The second person was Mary Portas who lead the independent review into the future of Britain’s high streets. Mary highlighted the impact that responsible business and responsible entrepreneurial enterprises can have on the high street. At a time when the high street in the UK is suffering and there is a continuing movement to out of town shopping centers, the high street needs to reinvent itself and create its own USP. She went on to cover the importance that popup hubs can play on the high street to highlight local traders, designers, artists, manufactures etc. If there is empty space on the high street, why not try and use it for a popup hub highlighting local trade talent? When I spoke to her briefly I was struck by her enthusiasm and passion for creating environments of kindness, how you should only employ happy people and the importance of living and giving – how you live your life and what you give back to society.
The third person was Chuka Umunna MP, Shadow Secretary of State for Business. It is not only positive to see a senior politician taking part and supporting such an event, but to also see him talk about the importance of responsible business and responsible entrepreneurship from the heart. Chuka is the MP for Brixton and there are some great examples there of responsible businesses and entrepreneurs and the positive effect they can have on the local community. He also recently chaired a Labour Next Generation event on the importance of responsible entrepreneurship. It was at that event and again last week, that he highlighted the need for entrepreneurship to be ‘in the hearts of the many not in the hands of few’, and the creation of/ belief in a ‘British Dream’ with more people setting up businesses, leading business, and working in businesses. It was good to hear about the emphasis he and the Labour party are putting on the power of entrepreneurship and its social value. Chuka also touched on the need for government to empower responsible entrepreneurs to do what they want to do, creating businesses that have shared values, bottom line and society.
Both Chuka and Mary touched on the importance of consumer behavior and the need to change this, increasing awareness of the impact purchasing decisions can make. They both highlighted the important role that the media could play in championing responsible enterprises, as well as the need for those in positions of influence to create a ground swell within consumers to change their purchasing habits towards one that supports responsible businesses.
I strongly feel that sustainability and responsibility in all enterprises, large and small, new and old, will be a major competitive advantage moving forward. Customers will want to buy into brands that believe in something more than just profit.
It is great to see BITC leading the charge; they have a strong network of businesses large and small across the UK and in sectors from manufacturing to tech and catering to housing. Responsible small startups and entrepreneurs will need all the help they can get to ensure they can be the change makers society needs. I think and hope that BITC will act as an informal incubator and catalyst for them by utilising their network and their influence.
I will leave you with a key aspect of what responsible entrepreneurship is to me.
A responsible entrepreneur does not focus on short-term profits to the exclusion of all else, and they actually go on to make more money. This is going to only increase and will create real change within the business landscape. Why? Because as the power shifts to the consumer, if a business doesn’t become responsible, customers and stakeholders will ultimately vote with their feet.
At the recent Association of MBAs Global leadership conference for AMBAssadors, that took place in Nantes, France (from 6th to 9th Feb 14), I gave a presentation on Networks and Networking. The following blog focuses on what networking means to me.
The word ‘networking’ is a cold/hard one; it is quite clinical and doesn’t really have any emotion attached to it. The actual art of networking is the very opposite of this. Networking is a relationship. You can’t think of it in any traditional sense, you can’t box networking; you can’t explain it away using buzz word bingo business jargon.
For me, networking in its broadest sense is very simple, it’s about helping people. I believe very much in karma, if you help others then they will in turn help you. This is true with networking. You can’t go into a meeting or a conversation thinking ‘what is in this for me’. If you do, you will be at risk of being too blinkered, of missing opportunities, of focusing on the short term and not thinking of the long game.
I realise that I might be coming across as a bit altruistic, business is tough, your time is precious, you need new clients, you need access to new markets you need new revenue streams etc. I am not saying that every minute of every hour of every day should be spent networking. But true networking is relationship building, and any relationship needs time to be spent on it.
Successful networking is dependent on the partners involved, which leads me onto ‘networkers’. Am I a networker? Yes I am, but there are a lot of different types of networkers and in my different roles over the years I think I have seen almost every type. A key to networking is to try and work out what type of networker is in front of you. If you spend time on them, if you help them out, but they never do anything for you in return, (no matter how small), it is all one way, it is a waste of time and you are better off out of it. That type of individual may succeed in the short term, but in the long run people will work out what they are about and trust will be lost. Remember the world is a small place and word does get around.
Whether you want to or not, you will usually end up building networks around you that are made up of people who are very similar to you. If you go into networking thinking ‘what can I get out of this’ you will end up surrounding yourself with similar people. But if you go in thinking ‘how can I help this person’ then you will surround yourself with people thinking the same.
- Help others, you never know who you will meet and who they are networked with
- Try and work out what type of networker is sitting in front of you
- Don’t go into a networking opportunities with the ‘what is in it for me’ mentality
- Creating a network takes time and commitment, remember this and don’t think it will happen overnight
- Be honest with your answers, if you can’t help someone, say so
- Think dynamically about who you are meeting, if you can’t help them, maybe someone in your network can
- Be engaged, don’t be dismissive, remember the person you are speaking to is passionate about their area
I don’t know if I have said anything interesting, it seems to be very basic, but I think networking is. Don’t over think it. The world is full of amazing people trying to do fascinating things. If you can create a network around you incorporating these types of individuals, then the personal and professional enrichment it will give you will be truly remarkable.
The title of this post was ‘a networked future’ and I should briefly explain what I meant by this.
Thanks to Gordon Moore and his law, the exponential growth we have seen in computing and the explosion we have seen in social networks, our interaction to people from all over the globe is only a mouse click away and it is set to only get easier. Global trade will soon be a part of every business, large or small; therefore the importance of networking and having a diverse network around you will become ever more important. Your network will be able to facilitate introductions, give recommendations, and provide market knowledge and intelligence. It will help to give you the competitive advantage.
NB: The above post was taken from a piece I wrote for Shell LiveWIRE in 2011 and can be found here
NB: This blog was one i wrote for the European Confederation of Young Entrepreneurs on 31 Jan 2014 and it can be found here
The backbone of the UK economy are small businesses and start ups, they are the wealth, job and skills creators, they are the innovators and they are core to ensuring the UKs stable economic growth going forward. However, is the voice of small business actually heard at the heart of government? For that matter, how many countries can truly say that small business and startups have a seat solely for them at the cabinet table?
With big business, the government’s engagement is strong, the companies have policy, lobby and press teams to ensure their voice is heard by policymakers and therefore, government does listen. When it comes to small businesses, governments tend to talk a good game, they say they are listening, but is that the case? If they are not, where does accountability lie? Ultimately it must lie with the Department Head, the Secretary of State, this is the person that has a senior cabinet position, the person who is the business champion within Government. But when the influence of big business in the department is strong, the voice of the small business person has a tendency to be crowded out.
What is the solution?
There must be a small business champion, a person who’s sole focus is on small businesses and entrepreneurs, a person who sits at the senior table and has the credibility and influence to raise the issues that startups and small businesses face directly with senior cabinet colleagues. Most importantly, their position must be one where by they can effect real change.
During the recent Federation of Small Business Annual Policy conference, one of the speakers was the Shadow Secretary of State for Business, Chuka Umunna MP and what he had to say focused on exactly this issue. “We need government to be a better servant – and customer – of our small businesses and to make sure that entrepreneurs’ voices are heard at the top table. A UK Small Business Administration is necessary to realising this ambition. Based on the best examples from around the world, a UK Small Business Administration would create a step change in the opportunities for small businesses.” Chuka’s full speech can be found here.
As the power shifts from west to east, everyone from business to government must think creatively about how we can maximize our strengths. In the UK we have always been a nation of innovators and inventors, we were famously called a nations of shop keepers and as I mentioned at the start, small business and startups are core to economic growth and they will increasingly be so going forward. But we need to create the right ecosystem and I think the establishment of the UK Small Business Administration would be a big step forward and a real game changer. It would help develop a culture of support and practical action, which will drive successful small business growth, encourage entrepreneurial talent and help create the worlds leading companies of tomorrow.
NB: This article first appeared in the Guardian on 5 April 2013 and it can be found here
Recently I was invited to Mumbai by Young Indians to address the inaugural Commonwealth Asia Alliance for Young Entrepreneurs summit on behalf of Young Brits and the G20 Young Entrepreneurs Alliance. During my time in the city I got to visit some remarkable micro enterprises and meet some quite amazing social entrepreneurs. I wanted to share two of the lessons I learnt from these individuals, who from the outside seem to have the odds stacked against them, but all share a will, determination and ultimately a desire to bring about a real change.
From the moment you step off the plane you are hit by it, your senses are over powered by it and you will not escape it. It pulls you in and wraps you up. In a word, it’s ‘enterprise’.
Enterprise is everywhere, from stall sellers in the airport to the cabbies pitching for your business outside, the street sellers trying to get you to buy anything from leather jackets to balloons and the street food sellers with a dazzling array of dishes. This is a city where business is not just a part of its being, it is its being.
With a population of over 24m, 7m using the trains everyday (slightly less than the population of Switzerland), 5.5m using the buses daily (roughly population of Denmark) and the equivalent of a third of the worlds population making a train journey every year, this city is busy. At first glance it might seem chaotic, but it is organised chaos, everyone knows what they are doing, where they are going and there is a very real sense of a want to create work, business and money from them and their families.
This was the first of two lessons I learnt; it is all about the family.
I spent a day in the worlds most densely populated slum Dharavi, which sits in the centre of Mumbai, it houses over a million people and it wasn’t what I expected. It was safe, the people living there were welcoming and rather than there being a feeling of depression everyone I met was aiming to create a better life for them and their families. And by family I mean it in the widest possible sense.
Communities working together, creating a degree of financial independence through enterprise. In Dharavi alone there are over 10,000 businesses operating in sectors like leather, pottery and recycling. I came across larger business outside of Dharavi outsourcing the production of chapati’s to women within Dharavi, this not only provided a small income, but crucially it gave women a degree of buying power and therefor equality within the family unit.
And then there was the emphasis on education. The young children in Dharavi were immaculately turned out attending daily classes on English to math’s. Education was seen as a key way out, with the people I met seeing community enterprise as vital in helping their children to a brighter future.
Isn’t this what true social enterprise really is? Helping each other, providing support and opportunity for all, creating a better future for yourself, your children and the wider community.
There was no hiding away from it, life in Dharavi is tough, extremely tough, it left me with a lasting impression of how lucky we are. But what I did see was that through a community spirit that delivers practical solutions brought about by enterprise, there was a glimmer of hope.
My second lesson is taken from Mumbai’s world renowned dabbawalas.
So who are the dabbawalas? They transport home cooked food in dabbas (tiffins) from the homes of people who work in the city to their offices and back again. On a daily bases they move over 400,000 dabbas and have over 200,000 customers. The really interesting thing about the dabbawalas is two fold. First, they have no formal education, they are from poor backgrounds and they are recruited as dabbawalas to provide them with a skill and a career. Second, they use no form of telecommunication or IT system. It is all done by a coding system on the lid of the dabbas.
Now here is the amazing thing, they have an error rate of one in 16 million deliveries!
So why have I picked the dabbawalas as a lesson? They have been operating for 122 years, have a work force of over 5,000 people, operate a very flat structure with their board still doing deliveries and all pay is equal. So everyone is dependent on each other. Also every dabbawala is able to negotiate with their customer on the price point per delivery. They are trusted to be truthful and honest, to share all their earnings and negotiate sensibly.
It is an enterprise which has been answering a social problem for over a 100 years, they have been giving career opportunities to those in society with little or no education. And they have done this by trusting their work force and giving them real financial responsibility.
The lessons I learned in Mumbai where basic. But we often seem to forget the basics. We either focus on the next ‘big thing’ or we say it is up to someone else to sort out. Whereas it is actually up to us all to make a better future for ourselves, our families and our communities, be they local or far.
I recently said ‘all businesses will be social enterprises’ but I don’t think I got it quite right. All businesses need to be, but we all must be more social in our outlook. What I saw in Dharavi and with the dabbawalas shows what I feel is the true essence of social enterprise, delivering real change through communities and individuals addressing some of the countries toughest challenges. This is something we can learn from Mumbai. A collective responsibility and a shared awareness that will help make society better for all.
I was sadly only able to be at the summit for 48hours, but I had a hectic and insightful 2days and wanted to quickly share some of what I got to see and hear.
So why was CAAYE set up? Well I have been supporting the Alliance from its birth and it focuses on 4 key area:
To give a voice
To share ideas
To develop trade
The forth area was the point that hit home most when I was with the delegates attending the summit in Colombo. To network with like-minded individuals, regardless of where you come from and what your background might be.
I will go off piste slightly here, but I wanted to quickly share something that I heard from two of the delegations. India and Pakistan. Both been involved with CAAYE since the start, they have been working together to help create and drive a successful Alliance. Their governments don’t always get on, but the entrepreneurs representing their countries got on with each other, faced similar business challenges and shared common aspirations. This level of collaboration for me was cemented when I heard that entrepreneurs from India and Pakistan had managed to get the relevant visas and documents needed to cross on foot the border between each other’s countries and take part in a bilateral youth entrepreneurship event. For me this is what CAAYE and similar networks are all about. Putting people together that just want to get on and work with each other regardless of history or disagreements between nations at a political level.
This year’s summit took place directly before the Commonwealth Heads of Government Meeting (CHOGM) and the signed communiqué at the summit was handed directly to the leaders attending CHOGM. The leaders meeting had attracted a lot of press regarding the recent civil war in Sri Lanka. The CAAYE Summit is not political, it is a network of, and the voice for, young entrepreneurs, which is driven by young entrepreneurs from across the region and it was really great to meet Tamil and Sinhalese entrepreneurs at the CAAYE summit. These young men and women from both groups, told me they just wanted to create a future for themselves, their families and their country that is strong, stable and ensures equal opportunities and equal rights for all. The more I go to events like these and meet young, dynamic, driven individuals, the more I feel sure that these are the type of people who will drive future change in their countries and their regions. From what I have seen and heard this change will be one that stands a very real chance of seeing people working together across borders, cultures and religions to create a positive future for all.
Now on to a few stats… I hardly need to tell you that the Asian market is growing rapidly, in the 1960s Asia accounted for 14% of the world total GDP, however as of today is it now delivering around 36% of the worlds total GDP. Asia’s population was circa 1.4billion in the 1950s and it is now in the region of 4.6billion, which is 60% of the world’s total population. However one stat really stuck out for me that a speaker at the summit covered, this is that on average at the moment Asian countries currently have only 8% of their GDP coming from cross border trade. This must be a huge opportunity to develop, allowing countries in the region to trade and grow together and this is exactly where networks like CAAYE have a very important role to play. Pulling like-minded people together and facilitating trade, because you would rather work and do business with people you know than starting out cold.
One of the other key topics that was covered and struck a cord with me was around education. This was highlighted across all member nations of CAAYE as being key to ensuring a strong and stable economic future. A number of core areas on education were bought up that needed to be encouraged and focused on:
Firstly, female access to education. Everyone I met talked about the importance of ensuring women in their societies have equal access to education at all levels and to also ensure that the employment opportunities are there post completion of the education journey.
Secondly, the need for education to be available for all regardless of where you might live and what your financial status might be. With key limiters being location, infrastructure and family economics. E-learning and virtual educational programmes were highlighted as ways this issue could be addressed and a number of best practice examples where shared.
Thirdly, issues around turning ideas into successful businesses. Areas around employability skills sets, executive education and business leadership were all highlighted. There was a very real feeling that there was a need to get the right people in at the right levels to ensure an idea can be taken from concept to a viable business
Finally, the topic of social enterprise was looked at. It was very encouraging to hear how there was a drive to try and get the message out into the CAAYE regions about the positive effects social enterprise have and ways it can be bought into wider understanding through education at all levels.
I will leave you with my final thoughts from the summit. I personally felt that networks like CAAYE, driven by individuals who are driving this network, have a very real opportunity to choose their own destiny. It is said that a true measure of a person’s strength is how they master a moment of change when it arrives. The moment to create meaning full and long term positive change is now and I believe there is real capacity and passion in the people driving CAAYE to meet this change, to act as a force multipliers and to truly create something that is impactful. But it is a long road ahead, the network must keep pushing itself and they will need to have limitless capacity to meet the responsibility that they now have. If they do this, which will be hard, they will ultimately achieve something great.
During June myself and my Co-Founder of Young Brits (Glynn Pegler) took a delegation of young entrepreneurs out to Moscow to take part in the Annual Summit for the G20 Young Entrepreneurs Alliance. The delegation from the UK was kindly supported by Business Wales and bought together a wide mix of individuals from across the UK. A full breakdown of the delegation can be found here.
In addition to the summit itself, we also held a delegation launch event at the Institute of Directors in London, where the Director General of the IoD, Simon Walker, lended his support and congratulated Business Wales on their support of the delegation. On our return from Moscow we were invited to the House of Lords where we held a Q&A with the delegation and also had a drinks reception. We were extremely grateful to the All Party Parliamentary Group on Entrepreneurship who kindly hosted us at the House of Lords. During the Q&A the delegation got the chance share their insights and take aways from the summit with senior peers and politicians as well as business figures, including the Shadow Minster for Small Business and Senior Directors from Accenture and Ernst & Young (who are also G20 YEA knowledge Partners).
I firstly wanted to share unique video with you. This was pulled together, with the support of Business Wales, at the summit and includes interviews with a number of the UK delegates and it will really help you get a feel for the summit. The video can be found here, I really hope you enjoy it.
Secondly, I wanted to share with you two posts we did for BusinessZone re this summit, which were written by delegates from the UK delegation and were they shared their thoughts and experiences from the summit. The first of these posts can be found here and the second one can be found here.
We are now in the planning stages for the G20 YEA summit for 2014 and if you would like to be involved or support the delegation please do get in touch here.
Here is my third and final blog about my trip to Mumbai where I was invited to attend the Commonwealth Asia Alliance for Young Entrepreneurs (CAAYE) Summit on behalf of Young Britsand the G20 Young Entrepreneurs Alliance. My first blog was on the amazing Dabbawalas of Mumbai who have an error rate of 1 in 16 million, it can be found here. My second was on some of micro and social enterprises that are creating real impact in the Dharavi slum and this can be found here.
I wasn’t quite sure how to follow these up, so thought I would take a wider view and share with you an area that came up numerous times during my visit and I felt was relevant for local entrepreneurs as well as entrepreneurs from the UK and from across the world. The area in question is that of barriers, be they political, cultural or historical and the impact they have can have on enterprise and new business.
To start with I want to share a quote with you from a close friend of mine and the Founder President of the CAAYE, Dr Rahul Mirchandani:
“CAAYE was born out of a realisation that though we believe the dawn of the Asian century is upon us, trade within Asian economies is very insignificant. Barriers to trade and political compulsions leave our economies cordoned off from our neighbours while we increase our dependence on the rest of the world. As young entrepreneurs, we have realised this lost opportunity in our own backyard and we hope that CAAYE and its projects, ongoing activities, bilateral events and capstone Summits will create platforms where networks are built and people-to-people contact sustained over time for the benefit of the young businesses and young in business in Asia.”
Rahul’s quote mentions barriers in the second line and it was an area that delegates mentioned to me, it came up the Q&As and was a topic of conversation during breaks and over dinners.
So I thought I would start with the big one first! Political barriers, these can arguably have more impact than any of the others, if our governments get then on trade can be easier, if they don’t then it can be anything but. However what I did see during the summit what that where there is a will there is a way. For example, Pakistan had the largest non Indian delegation there and I heard stories of it taking months for some of the delegates to get their visas. But the kept at it and here they were. The political difference between the two countries is an area I am not qualified to comment on, but the Indian and Pakistani delegations got on extremely well, conversations about challenges faced, ambitions and their dreams for their businesses were all similar. It was striking how they just saw each other as entrepreneurs and the respect was mutual.
As if to underline this the summit ended with the President of the Pakistani delegation giving a powerful speech praising the work of the Indian team and talking about the CAAYE being a great example of how countries that do have significant political barriers can actually come together through enterprise and entrepreneurship.
Now I will move on to historical barriers and a question. Why up until fairly recently has the UK been doing comparatively little trade with India? Is it historical? Are we embarrassed about our colonial past? If this was the reason then all I can say is I am glad that we are now putting significant resources into helping UK companies, large and small, get into these exciting and dynamic economies. My recent experience with UK Trade and Invest and the UK India Business Council has been excellent, the proactivity of the staff before and during my visit was top class – the UK’s Deputy High Commissioner to India,Peter Beckingham, even cut short his holiday to attend the opening ceremony of the CAAYE Summit with less than a week’s notice.
Also during my time in Mumbai speaking to delegates and visiting different businesses I didn’t once meet someone who was negative towards the UK from India or any of the other Commonwealth Asian countries present for that matter. Actually it what quite the opposite, all the entrepreneurs and business people I met wanted to know why more UK businesses weren’t in their respective countries – there really was a desire to work and trade with British entrepreneurs. So if our trade barrier with some of these nations has been historical then we need to move on. We must trade globally regardless of company size or sector, the business opportunities and partnerships are there waiting for us to arrive.
Thirdly, I wanted to briefly cover cultural barriers. I am very lucky to have gone to some very different countries across the globe on behalf of Young Brits and the G20 YEA and I always come away realising that we are not that different. Our colour and creed might differ, but on the whole we all just want a strong, stable and safe future for our families and each other. I personally believe cultural differences are key to having a strong vibrant society, however sadly far too often we have a tendency to be afraid of the unknown and a different culture from one we are used to can scare us. Rather than seeing the similarities we are conditioned to seeing the differences, this breeds mistrust and can end up leading to lasting long-term damage.
As we all travel more and technology increasingly means we are all becoming more connected, these culture barriers are being broken down. But we must always make an effort to understand someone’s culture and beliefs, because if we don’t understand someone’s background how can we ever expect to create a lasting friendship, be this business or personal, in the future.
As I sat on the plane back to the UK I remember thinking how Mumbai was truly a city where enterprise is everywhere. Be itmicro enterprises in the Dharavi Slum, the street food sellers, the multitude of market stalls everywhere you go, theDabbawalas, the multinationals, the community industries, or the balloon sellers on the street (don’t ask!). Everyone is selling everything to everyone and it creates a buzz like no other.
India as a nation will have to face significant challenges as she develops and grows going forwad, but the people I met all wanted the same thing: a better future for themselves, their families and their wider communities. The overriding feeling was that this common positive future can only ever be delivered by the creation of jobs, wealth and skills through education, enterprise and hard work.
If the government of India listens to it talented young entrepreneurs and helps them create a equal, fair and just society where a person’s background, sex or caste doesn’t stand against them and corruption can be removed from the norm, then quite simply nothing will hold her back.
I have made some lasting friendships in India and with the delegates from the other Commonwealth Asian countries; I know it isn’t a case of if I go back to the region, but when and how soon.
I will leave you with the thoughts of my G20 Young Entrepreneurs Alliance colleague from Italy, Luca Donelli, who is the Sherpa for Italy to the G20 YEA and attended the CAAYE Summit with me. I felt his comments summed up the important role that these types of international networks can play in all our future:
“As a member of Confindustria Y.E., I am involved in various international projects similar to CAAYE such as G20 YEA – G20 Young Entrepreneurs’ Alliance. These are based on the need to create platforms enhancing cooperation amongst Associations of Young Entrepreneurs. These efforts are fundamental towards building up global awareness about young entrepreneurship and a tremendous growth opportunity for the participants and their Associations.”
You can follow Alex on twitter here.
My first blog focused on Mumbai’s Dabbawalas and this one is going to have a more social enterprise focus.
During my time in Mumbai I spent a day in Dharavi, which is in the middle of Mumbai, has over a million people living there and is the worlds most densely populated slum.
Before I went there I had a lot of preconceived perceptions of what a slum would be like, however I couldn’t be more wrong. It was safe, the people living there were welcoming and instead of a give up type feeling there was a get up and go feeling. Everyone I met wanted to create a better life from them, their families and their wider communities.
In Dharavi alone there are over 10,000 businesses operating in sectors like leather, pottery and recycling. The leather products they produce can be made from design to fit in 24hours and are sold all over the world. No space is left empty in Dharavi and the picture at the top of this blog is of the roofs of Dharavi showing at least three different types of industries operating there.
In addition to the core businesses there were some excellent examples of bigger firms supporting micro enterprises in Dharavi. One such instance was a large business outside of Dharavi outsourcing the production of chapati’s to women within Dharavi, this gave a small income, but most importantly gave a degree of financial independence and control of the family finances.
One other interesting case study I came across was a social enterprise run by an inspiring young guy called Krishna Pujari. Krishna is Co-Founder of Reality Tours a company that takes people round Dharavi and shows them what real slum life is. It ploughs is profits back into support community and education projects in Dharavi and is making a hugely positive impact. I recorded a short interview with Krishna and if you have a moment please have watch of it here.
One striking thing from my time in Dharavi was the emphasis on education. The young children were immaculately turned out attending daily classes on English to math’s. Education is rightly seen as vital in helping children towards a brighter future.
However it shouldn’t be forgotten that life in Dharavi is extremely tough and it left me with an impression of how lucky we are and how often we take the basics for granted. But what I did see was enterprise thriving in the tough surroundings and helping to deliver a ray of hope for the families and their children in Dharavi.
My third and final blog on my visit to Mumbai will be on theCommonwealth Asia Alliance for Young Entrepreneurs (CAAYE) Summit and I will be sharing some thoughts from some truly remarkable young entrepreneurs from across the commonwealth countries in the Asian region.
You an follow me on twitter here.