UK Business Barometer

The November Business Adviser Barometer asked for views on Management, business information, networking, Business Adviser 'Surgeries', the % of women in top companies, inner city start-ups, skills development among clients, preparation by clients for advisory sessions, their involvement in the community and what you would like banks to give clients for Christmas.

This third pilot of the UKBAB was sent out in mid-November 2002 and received 117 responses.

64% of respondents to the November Business Advisers Barometer disagree that management of small businesses cannot be taught. The same question was put to panellists of the UK Business Barometer in the previous month and the comparative results show that although some 18% of small businesses entrepreneurs believe that management cannot be taught, about 51% disagree.

33% of respondents find that the greatest shortfall in terms of management skills is in sales and marketing, followed by finance with 22%.

The UKBB survey for October 2002 asked a similar question, but excluded sales and marketing as a choice and the comparative results (with sales and marketing excluded from the UKBAB response) are shown in the bar chart below. This shows that more Advisers perceive the shortfalls to be in finance and time management, whereas business entrepreneurs see the shortfalls more in people management and change management.

More Business Advisers responding to the survey tend to use the internet than other sources of business information. This contrasts with the findings from a UKBB survey question in January 2002, where the businesses own R&D was the most likely source, followed by the Media.

Informal contacts with colleagues was voted as the most effective form of business networking, with 46% support.

80% of respondents are in favour of pro-actively encouraging business start-ups in UK inner cities.

The issue of encouraging women into entrepreneurship was approached through looking at the recent publication of the Inner City 100 fastest growing firms. Although women own only 13 of these, respondents did not see this as an appropriate matter for Government concern.

56% of respondents would like to see the establishment of business Adviser Private Practices as a model for future business support services.

Flexibility was the leading vote out of possible improvement to bank's services to the small business sector. 42% of responding Business Advisers voted for this, with a further 27% advocating lower personal collateral requirements.

Training and skills development for and by entrepreneurs were the subject of the next two questions. 83% of respondents think that less than 25% of their clients actively plan their person skills development and 79% of respondents think that less than 25% of their clients have had formal management training prior to starting their own business.

Flexibility was the leading vote out of possible improvement to bank's services to the small business sector. 42% of responding Business Advisers voted for this, with a further 27% advocating lower personal collateral requirements.

Respondents were near-equally divided on the preparation that clients undertake for their meetings with advisers. Only 3% find the majority of clients are well prepared but 47% find they are sufficiently prepared.

84% of respondents think that less than 25% of their clients are actively involved in any way in their own local community.

Views expressed are those of individual panellists and may not represent those of the IBA or the University of Nottingham.