David and Goliath need to become the best of friends.
History will tell us that the economy traditionally thrives when entrepreneurs prosper too. Pretty logical as this group makes up a large slice of the market. However, it is deeper than that. The Government will note that they wanted the UK – post Brexit – to be a home for new business ideas, entrepreneurialism, new AI technology that sets the UK as a hotbed of exciting new business. A great vision – but who is leading this charge? Have you seen any real change in the landscape?
In truth, it will not happen until companies are more open and inclusive to those new companies that maybe do not fulfil the whole criteria of their procurement policies. Big business does need to show real leadership through how it does embrace smaller companies. Entrepreneurs are key to the success of the economy and need companies to be more open and inclusive to lowering their barriers of entry.
This week the GDP figures did show that the UK was performing slightly better than many of its EU friends. Despite all the forecasts from the EU in the lead up to Brexit, it was the UK that managed to retain the best stability in the economy with GDP growth of around 1.1% – which although not great – is still better than that shown by France, Germany, Italy and Ireland.
In some ways, this is good news as it does place the pressure on the EU to agree on a god trading deal with the UK but the UK does need its entrepreneurs and innovators to still be able to thrive and ensure that the economy can compete on a global basis. An economy that supports SMEs and entrepreneurs can, it is estimated, see the economy grow to a far stronger position by 2021. This is important to everyone one of us and big business does have a role to play.
The good news is that there is a will to see this happen from many boards within the largest companies but as will is one thing, the actual action is far harder to achieve and it is this that is needed. Achieve it and we all gain and prosper and the path through Brexit becomes far easier. The politicians, of course, will take credit but in truth, it will be because Goliath befriended David and this created a momentum of change.