Still, it represents an opportunity, and it's noticeable that a number of bodies - public and private - have stepped into the breach. Some, such as Business Link, themselves have an unclear future. Another body with "mixed reviews", Business Link has insisted that rumours of its demise are exaggerated. My own canvassing has revealed a split along regional lines. Local Business Links have considerable autonomy and, along with the local West Midlands Manufacturing Advisory Service (MAS-WM), the West Midlands organisation scores higher than the UK parent in terms of "user satisfaction." My own dealings with both groups have been straightforward, pleasant experiences, and I know of several cases where MAS-WM, in particular, has gone "above and beyond" in supporting the growth of local businesses. Not, I must say, in terms of just doling out tax-payers' money, but in providing specialist advice when it was required. There are options now. Can these groups, and others, find a home in more local LEPs? Will there be mechanisms for adjacent LEPs to work together when appropriate, to avoid inter-locality competition wasting regional resources? I guess we will soon find out, since, apparently, the details will all be finalised by 7th September. Just to be clear, it isn't the removal of the RDAs that upsets me; it's the inadequate consideration of what they did poorly and what they did well, and the non-existent preparation of their replacements before the existing bodies shut up shop. It has been, so far, an opportunity missed, and I hope that the local business communities can save the day before it is too late. Personally, I am willing to offer any help I can.
So does industry really need any government assistance? It's a question that needs asking. I've certainly heard one multi-millionaire member of the new administration say "I set up my business without any help from government." True, his business required virtually no start up capital, and didn't require substantial upfront commitment to suppliers, but he has a point. The industrial revolution occurred without any government programmes that have gone down in history (although there was more central control and assistance than people realise.) On the other hand it was assisted by the demands of numerous conflicts, an expansion of empire and, in my view, a base of wealthy entrepreneurs who had made their money from industry, understood it, and were willing to invest in it. In other words, Angels. Over the past month I have heard from a number of sources that VC funding scales have continued to drift up, and the base of seed fund availability, both public and private, has continued to decline, leaving an increasing funding gap for those aiming to commercialise new products past the R&D stages. This is an area where one can hope Angels do not fear to tread! There are funding vehicles gaining in popularity which aim to fill this need, while diluting individual risk, and lowering the threshold for personal wealth required to invest in innovative business. Of course, they are still high risk, high return options, but it represents an interesting approach to a gap in the market, and one I'm investigating at the moment.
Of course, there are some areas of the UK engineering industry doing very well. I was fortunate enough to visit one manufacturing start up which is making a stir in a specialist niche. However, one point that came out was how many of the larger companies they supply to are behind the times in terms of their understanding of the manufacturing technology used. They have a very compact footprint (a fancy way of saying "small premises"), yet their customers visit and are clearly expecting to see large amounts of unused space, perhaps with a manned reception and open plan entrance foyer complete with pot plants, as this appears to boost credibility. How does one turn around what seems to be a need for high overheads in their supply stream on the part of some firms? Or should I head out to the garden centre for a nice palm tree?
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