Key findings - The Enterprise Web viewWest England office: Unit 5.2, Paintworks, Arnos Vale, Bristol, BS4 3EH. Wales office: 21 Alban Square, Aberaeron, Ceredigion, SA46 0DB (registered

Name of the report of the tender hereVersion of the report here or date of the tender

The Wiltshire and Swindon Small Business Survey

A report for Wiltshire CouncilJune 2015

The Wiltshire and Swindon Small Business SurveyDraft v1

Wavehill Ltd.

West England office: Unit 5.2, Paintworks, Arnos Vale, Bristol, BS4 3EH Wales office: 21 Alban Square, Aberaeron, Ceredigion, SA46 0DB (registered office) London office: Research House, 51 Portland Road, Kingston upon Thames, KT1 2SH

Contact details:

Tel: 01545 571711Email: [email protected] Twitter: @wavehilltweets

More information:

www.wavehill.com https://twitter.com/wavehilltweets

© Wavehill Ltd. This report is subject to copyright. The authors of the report (Wavehill Ltd.) should be acknowledged in any reference that is made to its contents.

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http://www.wavehill.com/

mailto:[email protected]


Report authors:

Yasmin JenningsOliver Allies

Any questions in relation to this report should be directed in the first instance to Oliver Allies ([email protected])

Date of document: 16th June 2015Version: Draft v1

Client contact:Name hereContact details here

mailto:[email protected]


ContentsKey findings............................................................................................................................... i

1 Introduction..................................................................................................................... 1

1.1 Respondent Profile....................................................................................................1

1.2 Accessing Business Support.......................................................................................2

1.3 Awareness of Business Support.................................................................................3

1.4 Willingness to Pay for Support...................................................................................4

1.5 Future Business Support Requirements.....................................................................7

Appendix 1 Wiltshire Business Survey......................................................................................9


Key findingsThe survey was undertaken with businesses with less than 50 employees operating across Swindon and Wiltshire. The data gathered show that:

Standard internet searches are by far the most common means by which businesses look for information on support, with 44% of respondents citing this as their main port of call when they require information;

The Federation of Small Businesses (70%) and the Chamber of Commerce (67%) are the most well-known business support organisation, followed by Local Enterprise Partnerships (53%).

21% of businesses would be prepared to make a financial contribution towards the support services that they receive, and a further 26% may be willing to do so depending on the value and complexity of the support that is given.

45% of respondents had sought external support in the last 12 months, of whom 29% had sought assistance from their accountant and 10% from their bank. A further 10% had sought support from the Federation of Small Business, making this one of the most common sources from which businesses are seeking support.

37% of businesses report that they do not need any assistance in the coming 12 months, pointing to degree of stability and self-sufficiency. 14% of businesses report a need for financial assistance, including grant funding, while 11% said they would benefit from support with sales, marketing and advertising.

i


1 IntroductionIn May 2015 Wavehill were commissioned to undertake a survey canvassing views on business support in Swindon and Wiltshire on behalf of Wiltshire Council. The survey was undertaken with a target quota of 150 businesses from Wiltshire (149 were interviewed) and 50 businesses from Swindon (52 were ultimately interviewed). To reach these quotas, random sampling was undertaken and ultimately, 201 businesses with less than 50 employees were surveyed from a dataset purchased from Dun & Bradstreet. The questionnaire consisted of ten questions and sought to gather data on awareness, usage and satisfaction with the support available, in addition to the types of support that small and micro businesses in the area are likely to need over the coming 12 months.

1.1 Respondent Profile

Around three-quarters (74%; n=149) of participating businesses were based in Wiltshire and the remainder were based in Swindon (Table 1.1). Almost two-thirds (63%; n=125) had 10 employees or more (Table 1.1). More than half (58%, n=116) of the respondents were directors, owners, partners and CEOs, while managers made up a further 10% (n=20) (Figure 1.1).

Table 1.1: Respondent profile – area and size of business

Overall Micro(<10 employees)

Small(10+ employees)

Swindon 52 21 31

26% 28% 25%

Wiltshire 149 54 94

74% 72% 75%

Total 201 75 125

1


Figure 1.1: Please confirm your position within the company

Director Owner Partner CEO Manager Others 0%

5%

10%

15%

20%

25%

30%

35%

29%

24%

4%1%

10%

32%

Base: all respondents (n=201)

1.2 Accessing Business Support

Respondents were asked where they would look for information on business support. The majority of respondents named at least one source, although 6% (n=11) said they did not know and a further 4% (n=8) said they would not need this information. The most common response by far was internet search with 44% (n=88). The unprompted responses have been coded and are summarised in Figure 1.2 below (showing responses given at least 5% of respondents).

Figure 1.2: I f you wanted information on what support there is for small businesses where would you look or who would you ask?

GOV.UK website (n=9)

Bank manager/advisor (n=10)

Local Authority (n=10)

Accountant (n=11)

Chamber of Commerce (n=11)

Business colleagues/peer groups/networks (n=16)

Federation of Small Businesses(n=19)

Google/internet search (n=88)

5%

5%

5%

6%

6%

8%

10%

44%

Base: all respondents (n=198)NB: The total exceeds 100% as respondents were able to select more than one answer.

2


1.3 Awareness of Business Support

When asked which business support agencies they were aware of, the Federation of Small Businesses and the local Chambers of Commerce were the most widely known, with more than two-thirds of respondents reporting that they had heard of these organisations (Figure 1.3). Less than one in ten (7%; n=13) had not heard of any of the agencies listed.

There were some interesting differences in responses based on area (Figure 1.4). For example, businesses residing in Swindon were more likely to be aware of their local Chamber of Commerce when compared with those from Wiltshire, while the reverse situation was true of Local Enterprise Partnerships. Awareness of the Federation of Small Businesses fell short of the average in Wiltshire but was exceeded in Swindon.

Figure 1.3: Which of the following are you aware of?

Outset S

windon (n=1

4)

None of th

e above

(n=1

3)

The T

echnology

Strate

gy Board

(n=2

4)

Forw

ard Sw

indon (n=3

0)

Growth Acce

lerato

r (n=3

2)

Manufac

turing A

dvisory

Servi

ce (n=3

7)

National b

usiness

support

helplin

e (n=3

7)

UK trade a

nd Inve

stmen

t (n=4

7)

Business

West

(n=5

4)

Wiltshire

Business

Hub (n=6

4)

Wiltshire

Business

Support

Servi

ce (n=7

3)

The E

nterpris

e Netw

ork (n=7

5)

Local En

terpris

e Part

nerships (n

=106)

Chamber

of commerc

e (n=1

33)

Federa

tion of Small

Business

es (n=1

39)0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

12%8% 8%

29%

15% 12%19% 21%

25% 27%

37% 35%42%

83%77%

5% 6%

14%

10%

16%21%

18%

24%28% 34% 36%

39%

57% 61%67%Swindon

Wiltshire

Overall

Base: all respondents (n=198)NB: The total exceeds 100% as respondents were able to select more than one answer.

3


1.4 Willingness to Pay for Support

Respondents were then asked if they would be willing to contribute financially towards the cost of information / support if they were to receive it. The open responses have been coded and are presented in Figure 1.4 below. Of the 185 businesses who offered a response, 44% (n=81) said they would not be willing to do so. The main reasons cited were budgets and the absence of need for support:

“No, I think it would be frowned upon by our business because of the size of the company, we can get all of our support internally.”

“I doubt it as we try and keep our costs down as much as we can.”

Around one in five (21%; n=39) showed strong support for the idea of paying for advice and information, and answered with a straight forward ‘yes’. A further 26% (n=48) said their willingness to pay would depend on the nature and perceived value of the support. These businesses were generally more prepared to pay for complex services, such as training or legal advice:

“Depending on the nature of the support, we'd be more likely to contribute to practical support sales help or training than information.”

“It would depend on the nature of the support, it's fair to say we'd be more inclined to contribute towards 'support' like training courses rather than 'information'.”

“If it was accountancy and legal advice, then yes we would be willing do contribute financially. Whereas if it was for simpler advice or support such as employment, tax then I don't think we would.”

The remaining 9% (n=17) pointed out that they were already paying for support and information, a number of them through subscriptions to the FSB and other member organisations, or through investing a portion of their finances in Growth Accelerator match funding.

4


Figure 1.4: If you were to access information or support would you be willing to contribute financially towards any information / support you received?

Already doing so (n=17)

Yes (n=39) Depends (n=48) No (n=81)0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

9%

17%

27%

47%

10%

23%25%

42%

MicroSmallOverall


Overall, 45% (n=90) of respondents had sought external advice in relation to their business in the last 12 months, rising to 52% (n=27) of businesses residing in Swindon and falling to 33% (n=25) of those with less than ten employees (Figure 1.5).

Figure 1.5: In the last 12 months have you sought external advice or information on matters affecting your business?

Swindon (n=52) Wiltshire (n=149) Micro (n=75) Small (n=125)0%

10%

20%

30%

40%

50%

60%52%

42%

33%

51%

% YesOverall


Of those 90 businesses that had sought advice or information, almost one in three (29%; n=26) had received that support from their accountant. A further 10% (n=9) had received advice from their bank, and 10% had also sought advice from the Federation of Small Businesses, while the same number again sought advice from their solicitor (Figure 1.6).

5


Figure 1.6: Who did you seek that advice from?

Growth Accelerator (n=6)

Business coach / consultant (n=7)

HR services (n=7)

Solicitor (n=9)

Bank (n=9)

Federation of Small Businesses (n=9)

Other (n=26)

Accountant (n=26)

7%

8%

8%

10%

10%

10%

29%

29%

Base: all respondents who had sought business advice from an external agency in the last 12 months (n=90)NB: The total exceeds 100% as respondents were able to select more than one answer. Categories selected by less than 5% of respondents are not shown.

Twenty-nine per cent (n=26) of respondents had sought advice or information from an ‘other’ organisation. The diverse range of sources mentioned included Wiltshire Council (2 respondents), ACAS (3 respondents), in addition to HMRC (one respondent) and the Citizen’s Advice Bureau (one respondent).

Respondents were asked how useful they had found the information and advice provided by each of the agencies from whom they had received support. Though this analysis is limited by the small numbers of respondents who utilised support from the different sources, the findings generally indicate that business support services are well received, as presented in Figure 1.7 below.

Figure 1.7: How useful did you find this support?

Accountant (n=26)

Bank (n=9)

Federation of Small Businesses (n=9)

Solicitor (n=8)

HR (n=7)

Business coach / consultant (n=7)

Growth Accelerator (n=5)

7

2

3

1

1

1

19

6

9

5

6

6

4

1

Not at all useful Of some use

Very useful

Base: respondents who had sought business advice from an external agency in the last 12 months (n=as shown).

6


Respondents who accessed external support were asked how that advice was delivered. The main channels were face to face (39%; n=35) and by telephone (38%; n=34) (Figure 1.8).

Figure 1.8: How was that advice mainly delivered?

Through a website (n=2)

Other (n=5)

By email (n=14)

On the phone (n=34)

Face to face (n=35)

2%

6%

16%

38%

39%

Base: all respondents who had sought business advice from an external agency in the last 12 months (n=90)NB: The total exceeds 100% as respondents were able to select more than one answer.

1.5 Future Business Support Requirements

Respondents were asked a final question intended to capture the types of support that businesses would find most beneficial over the next year. The areas cited in the open responses have been coded and presented in Figure 1.10 below. Encouragingly, more than one-third (37%; n=74) reported that they did not currently need any support. Amongst those who did, financial assistance was the greatest concern (14%; n=28), with several respondents seeking grant funding. Some referenced specific schemes such as Growth Vouchers scheme, YTS and Growth Accelerator. This was followed by sales, advertising and marketing (11%; n=23).

7


Figure 1.10: Over the next 12 months, what type of support would you find most beneficial to your business?

Taxation (n=6)

Training (n=8)

Business advice, mentoring or coaching (n=8)

HR (including recruiment) (n=9)

Don't know (n=18)

Sales, advertising and marketing (including social media) (n=23)

Financial assistance and advice on grant funding (n=28)

Nothing (n=74)

3%

4%

4%

4%

9%

11%

14%

37%

Base: All respondents (n=201). NB: The total exceeds 100% as some open responses fall into more than one category.

8


Appendix 1 Wiltshire Business Survey1. Could you confirm your position within the company please?

2. If you wanted information on what support there is for small businesses where would you look or who would you ask? Unprompted)

Accountant Bank manager/advisor Business colleagues/peer groups/networks Chamber of Commerce Consultant Federation of Small Businesses Friends/Family Google/internet search GOV.UK website Other Government websites (e.g. BIS, Defra, HMRC) GREAT/BUSINESS IS GREAT website Local Authority Magazines Manufacturing Advisory Service (MAS) Mentor Newspapers Radio Television UK Trade & Investment (UKTI) Wiltshire Business Support Service Wiltshire Business Hub Other (SPECIFY) Nowhere – would not want this information Don’t know

3. Which of the following are you aware of? UK trade and Investment – international Trade (exporting) The Technology Strategy Board (now known as Innovate UK) Growth Accelerator Manufacturing Advisory Service Local Enterprise Partnerships Wiltshire Business Support Service The Enterprise Network Wiltshire Business Hub Your local chamber of commerce Outset Swindon Federation of Small Businesses Business West Forward Swindon National business support helpline

9


4. If you were to access information or support would you be willing to contribute financially towards any information / support you received? (Open answer)

5. In the last 12 months have you sought external advice or information on matters affecting your business? Yes/no (if no go to any final question regarding barriers to engagement)

6. (if yes) Who did you seek that advice from? Accountant Customers Suppliers Bank Family Friends Government Funded Business Support (do you want to specify a particular source)?

o __________specify here Wiltshire Business Support Service The Enterprise Network The Wiltshire Business Hub Outset Swindon Business West National business support helpline Forward Swindon Federation of Small Businesses Local Chamber of Commerce Solicitor Universities/Colleges Other (please specify)____________________________

7. How useful did you find this support? (for each source of support used)

Not at all useful / of some use / very useful

8. How easy was it to find the advice that you needed?

Very easy / fairly easy / not very easy / not at all easy

9. How was that advice mainly delivered? Face to face Through a website By email On the phone Social media

Other (specify) ______________

10. Over the next 12 months, what type of support would you find most beneficial to your business?

11. What way (if any) would you prefer to find out about new business support initiatives that may be of value to businesses like yours?

a. Telephone

10


b. Postal Leaflet/letterc. Emaild. Linked ine. Twitterf. Personal recommendation (word of mouth)g. Other__________________

12. Would you like to be kept informed of new business support initiatives in Wiltshire and Swindon? If so please provide email contact details:

11

01545 571 [email protected]

Documents

Key findings - The Enterprise Web viewWest England office: Unit 5.2, Paintworks, Arnos Vale, Bristol, BS4 3EH. Wales office: 21 Alban Square, Aberaeron, Ceredigion, SA46 0DB (registered