Actions for an enterprising London, sharing ideas to stimulate enterprise
Actions for an enterprising London is Enterprise Insight’s contribution to the investigation currently being carried out by the Economic Development, Culture, Sport and Tourism Committee into public sector support for business start-ups in London. Enterprise Insight runs the national Make Your Mark campaign.
EnterpriseUpfront provides an overview of the three issues Enterprise Insight (EI) have identified as holding back enterprise in London. These issues and recommendations are equally applicable to provide inspiration in other local areas in their efforts to drive forward enterprise.
1. Encouraging entrepreneurship extends beyond promoting start-up to involve creating a culture of enterprise
The contribution highlights that, in the current economic climate, the UK needs enterprising places and entrepreneurial individuals who are able to overcome barriers and grasp opportunities. Access to effective business support is paramount to enable groups and individuals make their ideas happen. However, it is suggested that this support should extend beyond just access to finance and business advice, efforts should focus on stimulating an enterprise culture and equipping people with the appetite, attitudes, skills and self-confidence to be enterprising. In particular, this requires aligning activities in enterprise education in order to attract more enterprise thinkers through the doors of business support.
2. Promoting and supporting entrepreneurship should be built on an understanding of the different attitudes and motivations behind enterprise
The main point raised under this issue is the need to consider the language used to market and communicate business and entrepreneurship. Enterprise Insight observes that while these terms might be attractive to some, others might be turned off by them. This can inhibit some people from accessing formal or mainstream business support.
Through qualitative research, EI has identified six different drivers which inspire connection to enterprise and entrepreneurship. Including success, necessity, ideas and passion - these drivers offer the opportunity for the tailored promotion of enterprise activity and support. Audiences in the research also reacted strongly against demographic-based marketing such as campaigns labelled specifically at the over-50’s or BME-groups. This does not mean that demographics is irrelevant to campaigning communications rather that they may be less fundamental than the individuals own relationship to enterprise and their individual support needs.
3. The Enterprising Places Network and Enterprising Britain competition provide ways to learn from effective practice in stimulating entrepreneurship
EI summarise lessons they have learnt from case studies of places successfully inspiring enterprise in local areas. They are taken from a forthcoming Ei publication, ‘Creating Enterprising Places’.
• Local organisations and enterprise champions should join forces to drive change in communities
• A joined-up approach should be applied to regional and local activity
• Communities need to nurture an enterprise culture, increasing the
entrepreneurial motivations, confidence and capability of local people
• Young people should be supported in their enterprise journey from primary schools
• Communities should be encouraged to share ideas and celebrate local enterprise champions and success stories.
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