scale up report deck for second home

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Information about scale up report deck for second home

Published on April 17, 2015

Author: sherrycoutu1

Source: slideshare.net

1. 17 April 2015 THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE #scaleup http://www.scaleupreport.com An independent report to the government

2. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE ENTREPRENEURSHIP 2000 Floated second Start-up 1986 Came to the UK to attend the London School of Economics 1987 Became a Computer Programmer 1991 Studied Business at Harvard 1994 Joined my first ‘start-up’ 1995 Founded second Start-up Sherry Coutu CBE < 2000 1997 first ‘startup’ sold #scaleup

3. THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE#scaleup

4. “We want nothing less than to make the UK the technology centre of Europe. This is the path we need to take to create new jobs, new growth and new prosperity in every corner of our country.” George Osborne, Chancellor of the Exchequer THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE#scaleup

5. “First mover advantage doesn’t go to the first company that launches, it goes to the first company that scales.” Reid Hoffman, co-founder of Linkedin THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE#scaleup

6. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE “Whether making better use of the information out there about which are our most promising firms, or coordinating support at a local level, the report is packed full of straightforward recommendations that point not only to how Britain can pay its way in the world but how it can do so in a way that enables far more people than now can build the life they want – that is why Sherry’s insightful report is so important and a real clarion call for policy makers to act." Chuka Umunna MP and Shadow Secretary for Business, Innovations and Skills

7. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE “This report makes a compelling case for getting behind the UK’s high growth ‘scale-ups’ and I hope all political parties seriously consider its recommendations. These firms are already having a transformational impact, we just need more of them to grow. Helping them access the talent they need, develop their leadership and access new markets are the priorities.” John Cridland, Director-General CBI

8. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Will Hutton, Principal of Hertford College Oxford and Chair of the Big Innovation Centre “Britain confronts a scale-up crisis, and Sherry Coutu is to be warmly congratulated on opening up an issue that has for too long gone unexplored and unremedied. If the country is to capitalise on its strengths and emergent entrepreneurial culture then it is vital that we construct the ecosystem in which more start-ups and young firms grow to maturity. We need the debate which I hope this report will trigger: but we also need radical action”.

9. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE “This report is a welcome contribution in the context of Greater Manchester’s recent devolution deal with Government and will support us as we look to deliver targeted business support to our local high growth firms.” Mike Blackburn Chair of Greater Manchester LEP

10. “Competitive advantage doesn’t go to the nations that focus on creating companies, it goes to nations that focus on scaling companies.” THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE#scaleup

11. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Key Findings http://issuu.com/endeavorglobal1/docs/what_do_the_best_entrepreneurs_want THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Achieving additional economic growth does not require significant additional funds If coordinated by local leaders who Collaborate with business and universities http://www.scaleupreport.com

12. Definition A ‘scale-up’ is an enterprise with average annual growth in employees or turnover greater than 20 per cent per annum over a three year period, and with more than 10 employees at the beginning of the period THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE#scaleup

13. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/254552/13-92-business-population-estimates-2013-stats-release-4.pdf #scaleup

14. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE#scaleup

15. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE STARTUPS DO NOT CONTRIBUTE TO NATIONAL OUTPUT Research by the academic David Storey has found that the median annual sales of a six-year-old firm in the UK are less than £23,000 This research also found that only a small group of start-ups achieve significant growth in revenues – just one per cent have sales of more than £1 million six years after they start 1 % It also found that the average new firm, despite the hype that surrounds startups, made a negligible contribution to British productivity growth. #scaleup

16. Methodology 8,923 THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE#scaleup

17. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE SCALE-UPS ARE THROUGHOUT THE COUNTRY Find them all here! http://www.scaleupbritain.com Scale-ups are found in each of the 39 LEP areas 6,659 (75 per cent) are located outside London. On average a LEP will have approximately 228 scale-ups in their area. These in turn can be grouped into the Number of scale-ups companies that employ between • 10 and 49 employees, • 50 and 250 employees, • >250 employees • Reference Appendix 3 and 4 in hand-outs…. #scaleup

18. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE The 3 year gross impact of moving 1% of businesses to HGF mode (244% over 3 years) Source: RBS Working Paper: Oct 2014 High Growth Firms and the Economy As a simple illustration of the potential impact of high-growth firms, RBS undertook an analysis to determine the economy wide impact of one per cent of all businesses with over 10 employees shifting from a stable growth state into high- growth mode. This would see the total population of HGFs in the UK increase from 10,200 (4.6 per cent of total business population with 10 or more employees) to 12,440 (5.6 per cent of total business population with 10 or more employees). At the end of year three this would result in 2,240 businesses making this shift and the creation of 238,000 jobs and almost £39 billion in additional turnover. 39 * 20 years = 780 billion before you take into account productivity effects £ 768 billion £ 780 billion + http://www.scaleupreport.com

19. GROSS Impact of closing the scale up gap in 20 years 1,400,000,000,000 THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE#scaleup

20. NET Impact of closing the scale up gap in 20 years 225,000,000,000 THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE#scaleup

21. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE 100 % Net New Jobs created in Europe in the past 5 years were from companies less than 5 years old…. THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE THE PACE OF CHANGE IN OUR ECONOMIES IS HIGH AND INCREASING

22. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE 990,000 . Source: Adzuna THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE THERE ARE A LARGE NUMBER OF ‘OPEN POSITIONS’ #scaleup

23. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE 1M Number of new science, engineering and tech professionals required in the UK by 2020 (Royal Society 2014) 5.8M Number of people forecast to be needed in the app economy by 2018 (OECD) THE SKILLS GAP IS SET TO GET LARGER…. #scaleup

24. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBETHE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE http://www.scaleupreport.com #scaleup

25. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE KEY RECOMMENDATIONS Recommendation 1: “National data sets should be made available so that local public and private organisations can identify, target and evaluate their support to scale-up companies, and evaluate their impact on UK economic growth.” http://www.scaleupreport.com #scaleup Demand the data so that you can have an accurate measure of what is going on

26. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE KEY RECOMMENDATIONS Recommendation 4 A Minister should be made responsible for reversing the scale-up gap by 2025 with cross-departmental resources allocated, independent bodies named to monitor and a task-force appointed to deliver a scale-up report to the Prime Minister every November for the next five years. http://www.scaleupreport.com #scaleup Check www.scaleupbritain.com to see how your LEP is doing on scale-ups

27. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE LEPS ARE BEING TRACKED by REGION… http://www.scaleupbritain.com

28. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Scale-ups ARE BEING TRACKED by LEP… http://www.scaleupbritain.com

29. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Scale-ups ARE BEING TRACKED by MP… http://www.founders4schools.org.uk/LEPS

30. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE AND ARE BEING TRACKED LOCALLY… http://www.scaleupbritain.com

31. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Scale-up Leader Search by LEP flow

32. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE AND ARE BEING TRACKED by LEP… http://www.founders4schools.org.uk/leps

33. Julie Deane: Cambridge Satchel Company Inspired by her children being bullied at school, Julie started up her own company so she could afford to send her children to private school

34. Lucinda Bruce Gardyne from Genius Foods Inspired by her child’s allergy to gluten and her passion for chemistry, Lucinda set about creating a loaf so her eight year old son Robin, who had a wheat allergy, could dip bread soldiers in his boiled eggs at breakfast.

35. Kate Ryder from Maven Maven is the first telemedicine platform for women, offering on- demand video appointments with health and wellness providers including OB/GYNs, pediatricians, nurse practitioners, nutritionists, lactation consultants, mental health providers, physical therapists, and doulas.

36. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE KEY RECOMMENDATIONS #scaleup Do you know the 50 fastest growing companies in your Local Area?

37. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE KEY RECOMMENDATIONS #scaleup What resources are devoted to helping schools, colleges and universities engage with your ‘ fast 50’.

38. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Message * When you (or MPs) speak publicly, the words and phrases you use influence people. Here I suggest that you use and avoid the following words: Words to use: growth, growing, achievement, success, sales, customers, scale-up, becoming big, exporting, global, challenge, markets. Words and phrases to avoid during the same message: small business, self-employment, micro-enterprise… “are the pillar of our economy.” (Comment: Need to distinguish between small business and entrepreneurship: entrepreneurship is inherently about growth, and only 1-6% of small businesses grow to even a very modest extent—everywhere in the world). Have your speech writers (or communications director) ensure that these words are repeated in different contexts and different media * Adapted from Dan Isenberg’s advice to Mayors in US cities.

39. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE LISTEN *…. Does your MP have a monthly breakfast with 6-8 scale-up entrepreneurs in small groups. Make sure some of them, not all, are growth driven, not small mom-and-pops. Not the big ones that are shrinking… • Scale-up photo on your site. • Encourage the entrepreneurs to tweet about the meeting. • Talk about how you can help them with the talent they need to accept more customer orders so they can create more jobs and economic growth locally (which you can tax). • Adapted from Dan Isenberg’s advice to Mayors in US cities.

40. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Visit* Does your school invite at least one scale-up venture a month to speak to current students? Do they feature scale-ups at career fairs (or do they only invite accounting firms, law firms and big companies?) Avoid the “usual suspects.” Photographs, web site recaps, are all good. Why not use the website http://www.Founders4schools.org.uk to find out? The advantage here is that these founders are all running businesses with more than £ 1 million in turnover and that these businesses are growing.

41. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Visit* Does your MP visit at least one scale-up venture a month for 15-20 minutes (or more, but 15-20 are sufficient to strongly complement the words you use). Avoid the “usual suspects.” Photographs, web site recaps, are all good. Why not use the website http://www.Founders4schools.org.uk to help you decide? The advantage here is that these founders are all running businesses with more than £ 1 million in turnover and that these businesses are growing.

42. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Celebrate *… Have one of your staff, or someone in the community, alert your community continually to wins – big sales, new sales contracts, new stores opening up and new marketing partners are the top priorities and convey the right message – growth, growth growth. If you win an award, call them up, mention it in the press, have your office put out a press release, invite your local MP for a handshake and a photo. Do this at your school or university * Adapted from Dan Isenberg’s advice to Mayors in US cities.

43. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Convene * The number one issue for scale-up entrepreneurs is access to skills (schools & universities are not producing enough skilled people at the moment). • Help your schools with that! the number two issue is help holding together the senior leadership teams to cope with the practicalities of growing a business from 100 staff to 500 staff in a year or two. • encourage the creation / roll-out of initiatives that help scale-ups get people with the skills they need). * Adapted from Dan Isenberg’s advice to Mayors in US cities.

44. |THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE Learn more* • There are some great 3 day exec ed courses available on ‘how to supercharge your Local Economy’  The best one I know runs 11-13 May in Boston and there will be representatives from 17 other countries also studying best practice practical lessons on how to improve the proportion of scale-ups in their area. • Start today by visiting some of the websites I mentioned • http://www.scaleupreport.com (case studies a good resource) • http://www.scaleupbritain.com (your fast 50) If you know a teacher, school governor, parent or a student, point them at • http://www.founders4schools.org.uk/leps so they can get in touch with your ‘fast 50’ for classroom talks, workshops, career fairs or work experience…

45. THE SCALE-UP REPORT ON UK ECONOMIC GROWTH Sherry Coutu CBE #scaleup http://www.scaleupreport.com An independent report to the government

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