Steve Bowyer, Opportunity Peterborough: ‘People mean business…’

[prev] …absolutely vital. They should answer whether there is a market for your product and should have the right financial projections. What does it look like in the future? Is there a point where it’s going to get a bit sticky? How do you identify that early on?

WHO COULD YOU APPROACH TO GET YOUR BUSINESS PLAN LOOKED AT?
There are a whole range of people out there to help – from business mentors to funding schemes such as Foundation East, who will help you with a business plan as part of the funding package. It’s worth just having an early conversation and outlining ideas. It’s more about building a business plan rather than simply going ‘here you go, here’s my two-page business plan’. Explore what the opportunities are and consider where that will really take you over the next 12 months and beyond. Take the time to work that through.

AND THE NEXT STAGE IN THE JOURNEY. WHAT ABOUT AN ESTABLISHED COMPANY THAT’S LOOKING TO EXPAND?
You can use any of the professionals that you’re used to working with. This is a good place to start; take advantage of those good relationships you already have – the bank, solicitors, accountants or whatever. Then there are a number of good schemes out there to have a conversation with. For example, if you are involved in manufacturing approach the Manufacturing Advisory Service. It’s a national programme but there’s an East of England department and, to be honest, this programme is probably undersubscribed, so you can get some high quality advice there. The same applies to the Growth Accelerator programme, which in our area is run out of the St John’s Innovation Centre in Cambridge. This programme offers a combination of funding and advice. There’s a bit of commitment required but those businesses that I have spoken to who have been involved have had really positive experiences. There are also other direct funds to go for, but it’s as much about getting the support as it is the money, which is where these programmes come into their own.

WHAT ABOUT THOSE COMPANIES CONSIDERING EXPANDING THROUGH EXPORTING?
Exporting is an interesting one. For a lot of people it’s disconcerting but there are support programmes here too. The Chamber of Commerce, who are involved in exporting, is a good port of call. We can guide and support as well. There’s also a big programme from the Local Enterprise Partnership called ‘Get Exporting’ to raise the profile of exporting [see news and events pages]. Then there are international support agencies such as European Enterprise Network who have a really good connection into European markets. They’re a fantastic organisation and really would be a good one to contact if you’re looking at those markets. And, of course, there’s UK Trade and Investment with a great team in place to support and open up new markets. One of the challenges we have as a country is working out what the best route to export is – there are just so many, but what’s the best one? Sometimes it can be hard to find your way through that, which is where organisations such as Opportunity Peterborough or the Chamber can help.

THERE IS A BEWILDERING ARRAY OF SUPPORT. KNOWING WHICH PROGRAMME TO CONTACT IS CONFUSING.
It is. If you were to ask me what else we could do as a country to help businesses, I would say that the next step is to rationalise and simplify the messages that go out about the routes companies can take. Opportunity Peterborough is looking at a model to do just that. Years ago we had Business Link which provided a central point of contact. We need to provide that same clarity of support, even more effectively.

DO YOU THINK ALL OF THE BUSINESS SUPPORT AVAILABLE IN THE CITY HAS HELPED IT TO SHAKE OFF THE WORST OF THE RECENT RECESSION? OR IS IT SOMETHING TO DO WITH THE ENTERPRISING ATTITUDE OF THE BUSINESSES WORKING HERE?
It’s a number of factors. First off we have a diverse economy. If you look at the city’s economy it’s not completely reliant on one particular sector or one major employer. That diversity supports itself. As you say, the business community in Peterborough is also exceptionally entrepreneurial, so there is a solidity to the businesses here. Obviously some did get hit by the recession – I’m not so misty-eyed that I don’t recognise it has been hard for the business community, it has been. But I think there is an inherent strength here, both in the quality of what businesses do and the way they approach their business. There is also a commitment from this city to ignite growth in the economy. Opportunity Peterborough will keep pushing schemes forward to businesses. We will continue to facilitate business growth in whatever form that is.

WHAT DO YOU THINK THE FUTURE IS FOR THE PRIVATE SECTOR WITHIN THE CITY?
Many businesses are seeing growth 20 percent up on last year, so they have real confidence in the way things are going. You can see that they are investing in their own plant, property or staff. So the confidence is there. And you need that confidence because it means that business will grow. It also attracts more investment because if outsiders see a confident city they want to be part of it. Why wouldn’t you want to join in? Peterborough had good growth in the second half of the 20th century. It then went quiet for a few years, but in the last five to ten years that confidence has returned. It’s there in the fabric of the city and how people approach it. At our Bondholder networking dinner a few weeks ago the energy was just tremendous – it bodes well for the city.

WHAT’S DOES THE FUTURE HOLD FOR OPPORTUNITY PETERBOROUGH AND THE BUSINESS COMMUNITY AS A WHOLE?
Opportunity Peterborough will never be complacent. We always need to do more, working with our partners to deliver for local businesses. We need to make sure the city is heard on the international stage. I genuinely think Peterborough is finally getting a name internationally. People know about the city in its own right rather than asking ‘oh, is that near Cambridge?’. Opportunity Peterborough will continue to push our reputation forward. For the city, the seeds that have been sown through the ambition of those working here today will have come to fruition. And don’t forget, we’re looking to the next generation; the Opportunity Peterborough Skills Service, for example, is helping our young people become more work-ready. That will mean growth in jobs, housing and people and all the infrastructure needed to support that. The Peterborough of the future will be a genuine testimony to the ambition that you can hear and see now in the businesses and in the city as a whole.

Find out more:
St John’s St, Peterborough, Cambridgeshire PE1 5DD
01733 317417
opportunitypeterborough.co.uk