Goldman Sachs 10,000 Small Businesses (10KSB) UK has convened over 250 fast-growing companies in Manchester to discuss building a culture that helps businesses to thrive. The forum, entitled Small Business Culture, Big Business World, convened 10KSB UK graduates from the North West and across the UK to share experiences and hear insights from external experts, including former England Rugby Head Coach Sir Clive Woodward, who shared his secret ingredients for developing high performing teams.
In a poll of the fast-growing companies in attendance, 73% believed that the biggest barrier to maintaining a successful business was the difficulty in recruiting the right talent. The other factor believed to be an obstacle to success was an increase in operating costs (61% of respondents). The poll also found that almost two-thirds (65%) anticipate that launching new products or services will contribute most to their business growth.
Sir Clive Woodward said: “In many ways coaching a sports team is like running your own small business, and I shared some of the key elements that I have learned from the high performing teams I have worked with. Being able to perform under pressure and develop a winning mindset within a team is critical for growing organizations.”
Chris French, Head of Private Wealth Management for EMEA, Goldman Sachs said: “Building and maintaining a strong culture is key to growth, both for large and small firms. Our event in the heart of the Northern Powerhouse convened some of the UK’s fastest-growing businesses to share practical insights into strengthening their competitive advantage through culture. 10,000 Small Businesses UK places a strong emphasis on the importance of leadership and building the right culture, investing in the founders and directors of more than 1,300 entrepreneurs from across the UK since 2010.”
Andrew White, Associate Dean of Executive Education and Corporate Relations, Saïd Business School, University of Oxford, said: “We are delighted to be working in partnership with the Goldman Sachs Foundation to deliver the 10,000 Small Businesses UK programme nationally. Saïd Business School at the University of Oxford is at the forefront of understanding and encouraging entrepreneurial behaviour. Encouraging and supporting small firms is essential to the growth of the UK economy.”
Since the launch of Goldman Sachs 10,000 Small Businesses UK in 2010, the programme has reached more than 1,300 small business owners across the UK including over 600 leaders of high-growth small businesses and social enterprises across the North West, North East, Yorkshire and the Humber. Over 200 new participants join the programme each year.