This morning The F Word from West Bridgford launched a national campaign called Survive and Succeed. This campaign is to address the low long term survival rate of businesses in the UK and particularly Nottingham where we have one of the lowest 5 year survival rates in the country. Sign petition here.
Serena Humphrey of the F Word told us,
‘It’s been my dream to launch this campaign for over 20 years now, so I’m very excited to finally see this become a reality. And this is a long term thing, something I think I’ll be doing for the rest of my career.
I believe that the long term survival rates of small businesses are unnecessarily low. In the UK a new business has a 40% chance of surviving until its 5th birthday. When we allow for the time-lag in companies de-registering then the 5 year survival rate is likely to be even lower. Take that out to 10 years and just 20% of businesses will still be trading.
When we consider how much government funding, support and effort goes into encouraging start-ups, how wrong is it that so many businesses are left to fall away?
Of course not every business has what it takes to survive, but we see so many sound businesses with huge potential but they just don’t have the financial resilience or skills to make it. Finance is a major skills black hole in too many small companies.
We know that with solid financial skills in their business, and the right support from Government, businesses can not only Survive, but Succeed. So we’re about helping small businesses with anything that could make them stronger, more financially resilient, and campaigning against anything that hurts.’
We want to significantly increase the long term survival rates of small businesses in the UK:
- Raise awareness of the high failure rate of small business
- 5 year goal for Nottingham to have the highest 5 year survival rate in the country
- Helping businesses get paid on time
- The Dividend petition – asking Government to reconsider how they tax small businesses
- Building resilient businesses – protect young businesses not just encourage start ups
- Break down the jargon and language barriers in finance
- Support and champion business owners to get the life and rewards they deserve
- Better Government support
- Better finance skills for business owners
- Campaign against anything that hurts the chance of small business
- Telling the truth about how hard it really is in business – let’s support each other
What can YOU do?
- Sign the Dividend petition here http://chn.ge/1PDpM5C
- Tell your friends and networks – get them to sign up too.
- Promote the divided campaign on social media – spread the word
- Follow the campaign on twitter @Survive_Succeed
- Sign up to follow the blog at surviveandsucceed.uk – we’ll keep you updated with all the campaign news and tell you when there are new resources, courses and events.