One of the North’s leading chartered financial planning businesses, Rosebridge, has brought together North West business leaders and global expert economists this month at their ‘Owner Managed Business’ event to champion and support business growth within the region.
The collaborative platform, supported by keynote speaker Kevin Hollinrake, Minister for Enterprise, Markets and Small Business, pulled together expertise from the local business community to shine a light on the difficulties many are facing. It was a unique opportunity for the region’s businesses to meet in person and discuss how others are embracing new technologies, utilising funding, championing skill sets and applying innovation to scale up.
“At the start of this year 5.5 million small businesses existed within the UK, accounting for three-fifths of the employment and around half of the turnover in the UK private sector. This is a vast and growing part of our economy, particularly within the Greater Manchester region. We are passionate about providing support for these clients in order to propel their growth and help them thrive,” explained Phil Rose, CEO of Rosebridge.
The event delved into various pressing business and economic topics, such as workforce shortages, skills gaps, the impact of Brexit, and post-COVID recovery plans, spanning a diverse portfolio of sectors including, but not limited to Tech, Hospitality, Property, and Manufacturing. UK businesses are worried about the economic outlook, with higher interest rates, something some of the CEO’s have not faced before, coupled with the uncertain political outlook.
Phil added: “One business owner at the event likened the economy to being in a car with the accelerator and handbrake on at the same time. Whilst another challenge that fuelled the discussion was the twin evils of inflation and interest rates. Value discussions were had around the approach, plans, and proposed effective solutions to overcome such challenges.”
Rosebridge wanted to create a platform at this event that provided an opportunity to interact face-to-face with Kevin and James Daly the Bury North (MP), who were able to explain the Government plans on reallocating HS2 funds, along with some of the incentives that are available to UK and North West businesses.
Vanguard’s Dr Andreas Zingg (Head of Multi-Asset Solutions, UK & Europe) and Felicity Mann (Senior Investment Specialist) also provided clients with an overview of the economic outlook targeting issues that UK businesses will need to address within their future business plans.
This all comes at a particularly poignant time following the Chancellor Jeremy Hunt’s Autumn Statement. This brought news of a new Investment Zone for Greater Manchester, along with four new devolution deals across England and a push for business growth. Hunt outlined 110 measures to grow the economy and level up the country.
Phil said: “We have yet to see the talk of levelling up become reality in the Northwest and Businesses are sceptical that the HS2 funds will be allocated to really levelling up the country.”
This was an event emblematic of the value Rosebridge provide to their clients and the local community.
Phil added: “The insights gained from this event will undoubtedly contribute to shaping our understanding of the budget’s impact on our business landscape. Above all, there is increased optimism about the positive changes it is set to bring.”
It is events like these that empower SMEs to thrive, adapt, and contribute to a vibrant economy.