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Sponsored post: Creative ingenuity, the building block for entrepreneurial success

Salford Business School: Celebrating the creative ingenuity of our SMEs.

History shows us that the Schumpeterian winds of creative destruction lay waste to the old and present opportunities for the new. It is creativity that sees opportunity, enterprise that exploits opportunity, and business ingenuity that delivers innovation to customers. Creativity is therefore an essential but often overlooked key ingredient in the recipe of improving economic advantage.

In the UK, the tough economic conditions have illustrated an increasing propensity for us, as a nation, to be more enterprising. Business formations are up, with currently 4.9 million private sector businesses, an increase of around 1.5 million since 2000. 4.7 million of these businesses are micro; started by both innovation-focussed entrepreneurs – developing new products and services, and necessity entrepreneurs – those which attempt to create wealth through unfavourable personal economic conditions. Also, an encouraging trend is the growing number of enterprises ran by female entrepreneurs, with around 40% of SMEs led or jointly led by women. Systemically, we are not quite as enterprising as our US counterparts, but it illustrates an increasing capacity for entrepreneurship through economic adversity, certainly beyond many European countries. In fact, in the UK’s North West we have seen an increasing appetite for business formation, as the only region to have double-digit growth in the number of businesses formed between 2012-13.

Supporting and sustaining a more enterprising culture is essential to our long-term economic prosperity, and universities have a key role in this arena. Mirroring a growing enterprise culture in the UK, over the last two years Salford Business School has seen around a 45% growth in enquiries, support, and knowledge exchange projects that focus on SMEs, including charities and social enterprises – numbering some 3,500 p.a. This is coupled with graduates increasingly seeing start-ups or local SMEs as attractive employers – offering a diverse range of projects and responsibilities. More than 40% of our students go on to work for SMEs, which also illustrates a growing receptiveness for SMEs to shape the skills and attributes of graduates, when historically this used to be the preserve of larger businesses. This requires universities to adapt their educational content to deliver the right technical, and often specialist knowledge, but also develop distinctive competencies in students that are valued by employers – enabling graduates to make a more immediate contribution to an SME’s success.

At Salford Business School we have taken several steps to support this. One, which is proving particularly attractive to businesses, are our student projects, in which a student (or group of students) work on a pressing issue where a company wants a fresh perspective, with the aim of yielding interesting insights. With the support of an academic in an appropriate field, the student explores creative solutions – something they are naturally good at. Students are also strong in basic research, having the time and techniques to mine data, with the aim of seeking patterns or making connections beyond what may be immediately obvious. However, the bootstrapped nature of SMEs requires some ingenuity – finding a solution that can be implemented with very limited funding or investment. The Business School has many examples of projects which have brought a wholly different solution to a company’s issues. Examples include a media campaign for Morson Group Ltd, which achieved over 100,000 views on their YouTube channel for 22 video clips produced. ENER-G PLC, ran an internal awareness campaign, culminating in a training video featuring a Johnny Depp lookalike.

Salford Business School works with companies both in the UK and overseas for student projects. If you are an SME, or indeed a large company, and would like a fresh perspective to your businesses challenges, then please see www.salford.ac.uk/business-school/business-services

Dr Kurt Allman,  Associate Dean Enterprise & Engagement

Photo: Getty
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Unite stewards urge members to back Owen Smith

In a letter to Unite members, the officials have called for a vote for the longshot candidate.

29 Unite officials have broken ranks and thrown their weight behind Owen Smith’s longshot bid for the Labour leadership in an open letter to their members.

The officials serve as stewards, conveners and negotiators in Britain’s aerospace and shipbuilding industries, and are believed in part to be driven by Jeremy Corbyn’s longstanding opposition to the nuclear deterrent and defence spending more generally.

In the letter to Unite members, who are believed to have been signed up in large numbers to vote in the Labour leadership race, the stewards highlight Smith’s support for extra funding in the NHS and his vision for an industrial strategy.

Corbyn was endorsed by Unite, Labour's largest affliated union and the largest trades union in the country, following votes by Unite's ruling executive committee and policy conference. 

Although few expect the intervention to have a decisive role in the Labour leadership, regarded as a formality for Corbyn, the opposition of Unite workers in these industries may prove significant in Len McCluskey’s bid to be re-elected as general secretary of Unite.

 

The full letter is below:

Britain needs a Labour Government to defend jobs, industry and skills and to promote strong trade unions. As convenors and shop stewards in the manufacturing, defence, aerospace and energy sectors we believe that Owen Smith is the best candidate to lead the Labour Party in opposition and in government.

Owen has made clear his support for the industries we work in. He has spelt out his vision for an industrial strategy which supports great British businesses: investing in infrastructure, research and development, skills and training. He has set out ways to back British industry with new procurement rules to protect jobs and contracts from being outsourced to the lowest bidder. He has demanded a seat at the table during the Brexit negotiations to defend trade union and workers’ rights. Defending manufacturing jobs threatened by Brexit must be at the forefront of the negotiations. He has called for the final deal to be put to the British people via a second referendum or at a general election.

But Owen has also talked about the issues which affect our families and our communities. Investing £60 billion extra over 5 years in the NHS funded through new taxes on the wealthiest. Building 300,000 new homes a year over 5 years, half of which should be social housing. Investing in Sure Start schemes by scrapping the charitable status of private schools. That’s why we are backing Owen.

The Labour Party is at a crossroads. We cannot ignore reality – we need to be radical but we also need to be credible – capable of winning the support of the British people. We need an effective Opposition and we need a Labour Government to put policies into practice that will defend our members’ and their families’ interests. That’s why we are backing Owen.

Steve Hibbert, Convenor Rolls Royce, Derby
Howard Turner, Senior Steward, Walter Frank & Sons Limited
Danny Coleman, Branch Secretary, GE Aviation, Wales
Karl Daly, Deputy Convenor, Rolls Royce, Derby
Nigel Stott, Convenor, BASSA, British Airways
John Brough, Works Convenor, Rolls Royce, Barnoldswick
John Bennett, Site Convenor, Babcock Marine, Devonport, Plymouth
Kevin Langford, Mechanical Convenor, Babcock, Devonport, Plymouth
John McAllister, Convenor, Vector Aerospace Helicopter Services
Garry Andrews, Works Convenor, Rolls Royce, Sunderland
Steve Froggatt, Deputy Convenor, Rolls Royce, Derby
Jim McGivern, Convenor, Rolls Royce, Derby
Alan Bird, Chairman & Senior Rep, Rolls Royce, Derby
Raymond Duguid, Convenor, Babcock, Rosyth
Steve Duke, Senior Staff Rep, Rolls Royce, Barnoldswick
Paul Welsh, Works Convenor, Brush Electrical Machines, Loughborough
Bob Holmes, Manual Convenor, BAE Systems, Warton, Lancs
Simon Hemmings, Staff Convenor, Rolls Royce, Derby
Mick Forbes, Works Convenor, GKN, Birmingham
Ian Bestwick, Chief Negotiator, Rolls Royce Submarines, Derby
Mark Barron, Senior Staff Rep, Pallion, Sunderland
Ian Hodgkison, Chief Negotiator, PCO, Rolls Royce
Joe O’Gorman, Convenor, BAE Systems, Maritime Services, Portsmouth
Azza Samms, Manual Workers Convenor, BAE Systems Submarines, Barrow
Dave Thompson, Staff Convenor, BAE Systems Submarines, Barrow
Tim Griffiths, Convenor, BAE Systems Submarines, Barrow
Paul Blake, Convenor, Princess Yachts, Plymouth
Steve Jones, Convenor, Rolls Royce, Bristol
Colin Gosling, Senior Rep, Siemens Traffic Solutions, Poole

Stephen Bush is special correspondent at the New Statesman. He usually writes about politics.