Is there a new wave of entrepreneurialism?

Dragon's den in action.

Entrepreneur. It is a word that, courtesy of television programmes like "The Apprentice" and "Dragon's Den", conjures up images of a lone wolf or "dragon" with a business vision. When one thinks of entrepreneurialism one immediately thinks of personalities like Sir Richard Branson and Steve Jobs building a brand and a business empire in their own image, hewn from their own industry and wild creativity. Entrepreneurialism appears then to be something wholly individual, almost egotistical, and consumer-facing. It is not a term one would often associate with big businesses and certain sectors – professional services being particularly close to my heart - seen as almost anti-entrepreneurial. 

Yet I believe any good business has an entrepreneurial heart beating at its core. Entrepreneurialism is all about change, creating a competitive advantage so that you can outperform your competitors. It is this urge to create competition and then to beat it that lies at the centre of successful entrepreneurship.

The most successful companies empower people to think in an entrepreneurial manner by enabling employees to feel able to express themselves within a safe environment, to challenge, to be challenged and to talk openly without fear of being derided. Promoting diversity in the workplace, both in terms of skill and background, enables businesses to create what you might term a ‘melting pot of ideas’ capable of producing a regular stream of creative ideas based on the pooling of a wide variety of influences and knowledge. I would go so far as to argue that under the right conditions - a blend of framework, incentives and liberalism - businesses can produce an entrepreneurial spirit capable of matching the most creative of "dragons". Fostering a global community of budding young entrepreneurs is a subject close to my heart and something I am personally involved with, sitting as I do on the board of Youth Business International (YBI), a global charity with members in 40 countries - inspired by the Prince of Wales and linked to the Prince's Trust - whose purpose is to encourage young entrepreneurs. The cultivating of young entrepreneurs around the world not only helps stimulate growth, it also eases youth unemployment, which is a massive global problem.

A big part of entrepreneurialism is based on making calculated risks. For any business with ambitious growth plans it is no different. Companies make calculated risks all the time in an effort to expand their frontiers – be they geographical, operational or cultural. In a post-financial-crisis environment, however, businesses must be able to retain their “permission for entrepreneurialism”. There is an inherent contradiction in political rhetoric which on one hand exhorts banks to lend more so that businesses can grow and on the other enshrines an anti-risk culture. Expansion at this phase of the economic cycle is especially tricky and the importance of a well timed and strategic move plays heavily on the minds of business leaders internationally. After a period of economically-induced relative stasis, I believe we are about to see a wave of entrepreneurial activity, whereby progressive businesses seek first mover advantage. As well as M&A activity, this could manifest itself in the form of investment into new geographies, potentially diversifying further from the developed markets, new technologies or into human capital - providing staff with the support and training required to develop new skills and new ways of thinking.

The appetite to take informed, strategic risks is a cornerstone of growth – and, as the post-crisis tremors show signs of abating, the ability of companies’ to act on this impulse will increase. Entrepreneurialism is not merely something reserved for the gifted individual with an idea and the bravery and perseverance to pursue that idea in a highly competitive marketplace, it is a central tenet of capitalism and an essential component of any sound business strategy. Without entrepreneurialism, businesses stagnate. Perhaps in the UK we need to ramp up what has historically been a strong part of the "national character" - an outward looking urge to trade new items with new territories.

If you want to see Dragon's Den in action, look no further than global businesses and the internal culture they foster and you will find more often than not a thriving hub of creativity and bold business ideas.

Kelly Hoppen. Photograph: Getty Images

Co-CEO of DLA Piper

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Q&A: What happened at Barnet's polling stations this morning?

Eager democrats who arrived early in the morning to vote in the London elections were turned away. 

What’s going on?

When polls first opened at Barnet’s 155 polling stations at 7 this morning, many registered voters found that they were not on the station’s voting lists, meaning they were unable to cast their vote. Many reports suggested that the overwhelming majority were turned away. Rules were later relaxed in some, but not all, polling stations to allow those who arrived with their polling cards (which explicitly state they are not needed to cast a vote) to vote.

Why is this happening?

It is, needless to say, unclear. But some reports have suggested that polling station staff only had the updates to the electoral register (that is, those who have newly-registered) rather than the entire register itself. Which makes you wonder why nobody realised before 7am that there might be rather more people wanting to vote in Barnet than the lists suggested.

Is this a conspiracy?

No, of course it’s not. And if you think it is, take the tinfoil hat off and stop watching Russia Today. Barnet is a Tory-led council. If this mess harms any party it is likely to be the Conservatives. We don’t know how Barnet voted for mayor in 2012, but we do know the votes of Barnet plus predominantly Labour-supporting Camden: Boris Johnson got 82,839 first preference votes while Ken Livingstone received 58,354. But remember London’s not just electing a mayor today. It is also electing the members of the Greater London Assembly – and one of them represents the constituency of Barnet and Camden. The incumbent, Andrew Dismore, is from the Labour Party, and is running for reelection. He won fairly comfortably in 2012, far outperforming Ken Livingstone. But Tory campaigners have been talking up the possibility of defeating Dismore, especially in recent days after Labour’s anti-semitism ructions (Barnet has London’s largest Jewish population). Again, if there are voters who failed to vote this morning and cannot to do so later, then that will hurt the Conservatives and help Dismore.

Is it the fault of nasty outsourcers?

Seemingly not. As we’ve written before, Barnet Council is famous for outsourcing vast proportions of its services to private contractors – births and deaths in the borough are now registered elsewhere, for example. But though postal votes and other areas of electoral administration have been outsourced by Barnet, voter registration is performed in-house. This one’s on the council and nobody else.

What has Barnet done about it?

The council initially issued a statement saying that it was “aware of problems with our voter registration lists” and admitting that “a number of people who had not brought their polling card with them were unable to vote”. Which was a bit peculiar given the polling cards say that you don’t need to bring them to vote and there were plenty of reports of people who had polling cards also being denied their democratic rights.

As of 10.40am, the council said that: “All the updated electoral registers are now in place and people can vote as normal.” There appear to be no plans to extend voting hours – and it is not possible to reopen polling tomorrow morning for the frustrated early birds to return.

What does this mean for the result?

It’s very hard to form even a vaguely accurate picture of how many voters who would otherwise have voted will not vote because of this error. But if the margin of victory in the mayoral election or the relevant GLA contest is especially slim, expect calls for a re-run. Frustrated voters could in theory achieve that via the arcane procedure of an election petition, which would then be heard by a special election court, as when Lutfur Rahman’s election as Mayor of Tower Hamlets was declared void in April 2015.

Some have suggested that this may delay the eventual result, but remember that counting for the London elections was not due to begin until Friday morning anyway.

Is there a dodgier barnet than this Barnet?

Yes.

 

Henry Zeffman writes about politics and is the winner of the Anthony Howard Award 2015.