According to The Federation of Small Businesses, the UK has more than 4.5 million small businesses. Statistics on the success rate for new start-ups is somewhat unclear and varies dramatically depending on the source. But no one can dispute that the UK's entrepreneurs and smaller businesses in general need all the help they can get.
One recent example is the announcement of the abolition of taper relief on capital gains tax – a serious blow to millions of small and medium-sized businesses.
To provide some of that much-needed help, a group of experienced global business leaders has launched a not-for-profit foundation to support UK entrepreneurs
Called the Enthum Foundation – www.enthum.org - it will support UK entrepreneurs and enterprises ready for the next stage of growth, as well as social entrepreneurs.
The Enthum Foundation differs from most conventional leadership and management coaching consultancies in two main ways: first, in its not-for-profit status and second, in working with both the entrepreneur and his business to understand the impact each has on the other.
Enthum reinvests its profits, alongside grants and other funds, to help organisations and individuals who could not otherwise afford such assistance. It also funds research.
Hussein Dickie, CEO of the Enthum Foundation, explains: "Sometimes the very drive and single-minded commitment of the entrepreneurs who launch an organisation and propel it to a successful position can become significant factors inhibiting its future growth and success.
"We encourage entrepreneurs to explore their personal capabilities and limitations and to recognise how they can impact on the enterprises success. We help them to maintain their passion, drive and vision while dealing with the nitty gritty reality of running a business."
The foundation comprises a group of business management, finance and human development professionals who have extensive experience of working to bring out the talents within organisations, enabling them to bridge the gap that can exist between the individuals and the organisations aspirations and the practicalities and realities of business.
Part of Enthums goal is to support and encourage social entrepreneurs – in other words, enabling people to use their creative and entrepreneurial abilities for public or social benefit, rather than to simply make money. The foundation also supports leaders and teams in larger organisations who need entrepreneurial approaches to grow and diversify their business. In 60 per cent of cases, innovation in larger companies fails.
Dickie says: "We can help entrepreneurs to make their business a reflection of their vision, by balancing the needs of the enterprise with their own needs. The spirit of enterprise is the term we use to convey the energy and commitment that is available to all organisations when its people are encouraged in expressing their deeper talents, motivations and interests. Commonly, this energy and commitment is blocked by factors in each individuals past experience, as well as by the way the organisation manages them."
As we cannot be experts in every relevant subject, we would love to receive 'guest' articles that may be of interest to anyone running their own business or thinking of doing so. ADD YOUR ARTICLE
