Tag Archives: growth

Northern Powerhouse – Good News for Businesses

POWERFollowing on from the Autumn Statement last month, David Cameron and George Osborne have been in Manchester to set out their economic plan for North West England. George Osborne has promised substantial investment of a further £7 billion in the North.

Transport and logistics seem to be the main focus on developing the “northern powerhouse” with the aim to invest in the North’s roads. To reduce traffic jams, there will also be new trains with 20% more capacity, alongside the development of High Speed 3 (high speed rail link between Manchester and Leeds).

For business, there is a lot to gain from this announcement. With the investment in transport, the North will become a more attractive place to live and work. Another long term aim is to raise the employment rate in the region by creating new jobs through supporting the growth of new businesses. With funding available this goal looks to be very achievable.

Tim Mills, Corporate Finance Partner at PM+M said “This is an excellent plan on paper but care must be taken to ensure all parts of the region benefit.”

The North West is a great place to set up a business and with the continuing investment in the area it is an ideal time to re-locate or launch a venture.

If you would like more information on funding options please contact Tim Mills, PM+M Corporate Finance Partner.

Burnley: A great place to do business!

In a report published recently from the UK’s top economic Think Tank, Centre for Cities, Burnley was ranked eighth in the UK for the high growth prospects of its SMEs and identified as an area where firms are driving the economic revival.

There is currently a great buzz around Burnley not only from Burnley’s promotion to the Premier League but also since being named ‘The Most Enterprising Area in Britain’. In recent years, the town has made a real commitment to enhancing its infrastructure so as to facilitate economic growth. Several new business parks have launched, the new University Technical College has opened its doors and faster rail links to Manchester are imminent.

In particular, we have seen considerable growth in the hi-tech, manufacturing and engineering sectors. At PM+M, we work with many clients who are suppliers in the aerospace industry who are very excited about the benefits of the proposed Aerospace Supply Chain Logistics Park. New developments such as these afford local firms the opportunity to expand enabling projected industry and, in turn, job growth for the town. We have a great deal of experience in the manufacturing and engineering sector and we look forward to combining outstanding technical expertise with deep sector knowledge to help our clients achieve their goals.

We are proud to count ourselves amongst these local firms contributing to the growth of the economy. We currently have nine partners and approximately seventy people working across two offices in Burnley and Blackburn and we are constantly on the lookout for new talent.  The last twelve months has seen the firm evolve and we recently took the decision to restructure our business services department into two newly-formed specialist teams, encompassing Corporate Services and Run My Business. By streamlining our business we aim to create a platform by which we can realise our growth ambitions.

By pursuing high growth strategies Burnley firms are contributing to the economic recovery, not just in the local area but in the UK as a whole and, as a result, we can all be proud of what has become a great place to do business!

Nigel Wright – Corporate & Run My Business Partner

Visualise, Communicate, Engage – How we aim to realise our ambitions

At PM+M, we have a vision about what our business will look like in 4 or 5 years’ time.  It includes some pretty big and audacious targets and one or two challenges to address if we are to achieve it.  Having a vision is important to any business but the key to realising it must be that the vision is understood and shared by most of the people in the business.  Without this, such a vision becomes something thought up by senior management and completely meaningless to everyone else.  The key challenge for me, as a leader of this business, is communicating the vision and what it means for everyone.

In April, the whole of the PM+M team got together for our annual ‘Whole Firm Meeting’, or WFM for short.  This is where everyone in the firm gets the opportunity to think about the four year vision and strategy for the business so that we all engage with it and understand our part in making it happen.  The major need is for us all to appreciate how we need to change ourselves and the way that we behave in response to the challenges that the vision presents.

WFM

The PM+M ‘Whole Firm Meeting’

To help in the communication process, I’ve spent time with a specialist consultant who helped me appreciate the need for communication to be a structured two way thing.  There are some real gems that our team have contributed in developing the PM+M strategic plan and these have been uncovered because we use fun workshops and other exercises to consult with everyone and to ask them what ideas they have about the things that we should be doing, what contribution they should like to make, how they want to be involved, how they feel about what we are saying, what anxieties they have about change, what support they need and what success looks like and means for them.

As a member of a peer support group called MD2MD, a group of business leaders in the North West, I have had the opportunity to gain an insight into how other leaders approach engagement and development of a shared business vision and this has also helped me to develop my own approach.

Communication isn’t a once a year activity and we support our WFM with regular departmental updates, informal ‘Coffee and Cake’ meetings and quarterly performance review sessions.  The idea is to maintain the focus on what each of us is doing in support of achieving the vision and how we are progressing with our personal objectives and challenges.  The aim is to keep the vision personal and to make sure that everyone knows what their efforts are achieving as part of the ‘Big Picture’. All of this kind of activity also contributes to our Investors In People (IIP) status because, after all, IIP is really all about doing the right things.

Do you agree that the key to achieving your targets lies in communicating your vision?  How are you realising your growth ambitions?  I’d be really interested to hear readers’ thoughts and suggestions, so please feel free to leave a comment in the box at the bottom of this post.  Alternatively, drop me an email: stephen.anderson@pmm.co.uk or call 01254 604323.  And, you can share this post on social media platforms by clicking on the social share icons at the top of the page.

Stephen Anderson, Managing Partner

Budget 2014 Seminar

The date is set and on 19th March the Chancellor will be revealing his Budget for 2014 to Parliament.

The following day PM+M will be providing a free seminar in which our tax, business and financial planning specialists will provide in depth analysis of how the budget will affect businesses and individuals.

The Budget affects everyone in the UK from private business owners to pensioners. One of the most difficult aspects given the volume of information released is breaking it down, looking through the rhetoric and ascertaining exactly how it specifically affects you and your business.

Our team will supply jargon-free, pertinent information and guidance that will enable you to come away from our seminar confident that you understand the changes affecting you and know what planning is available to you. And if you still have questions then we will be running a Q&A session at the end of the seminar where you can raise any further issues or queries.

With the next election just over 12 months away it is likely that George Osborne will be keen to continue to promote the UK’s economic revival. With this in mind, the Spring Budget may well see a continued commitment to long-term strategies of perpetuating growth in the UK and reducing the deficit. If this is the case and the government decides to reduce borrowing, then the onus will be on the taxpayer and business owners to sustain growth. By seeking out expert advice in the immediate aftermath of the budget you can ensure are fully prepared to meet the financial challenges of the coming months.

Seminar details:

Date     Thursday 20th March
Time     8:30am breakfast – seminar will start at 9:00am and finish around 10:00am with
questions and coffee afterwards
Venue  The Dunkenhalgh Hotel, Clayton-le-Moors, BB5 5JP

Our past budget seminars have proved to be very popular events so reserve your place now to avoid disappointment.

To book a place please email Lorraine Cade on Lorraine.cade@pmm.co.uk or call 01254 679131.

Rick Brierley – PM+M Marketing Team