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17/04/2014

Small business, big impact

By Sian Price, Senior Strategy Manager, Finance Wales.

The recent launch of BITC’s Small Business Offer reminded me that it’s easy to overlook all we do and achieve, particularly when our ‘To do’ lists seem to keep getting longer!  Yet, for many of us, what we do and achieve can differentiate us from our competition, see us win more business and improve our internal and external working relationships.

When we joined BITC in 2012, we looked over Finance Wales’ responsible business practices and were pleasantly surprised by what we were already doing.  Alongside embedding responsible business practices into our business, we are also keen to encourage the SMEs we invest in to think about how they believe responsible business practices influence their current and future commercial success. 

We’re pleased to see BITC pioneering the Small Business Offer in Wales because it gives small businesses a chance to see exactly what they’re achieving, make the most of their achievements and to build on them – just like we did.  Now, Finance Wales works alongside BITC to support this process by sponsoring the Wales Responsible Business of the Year - Small award in 2013 and again in 2014.    

Responsible business practices open up so many opportunities for businesses of any size and can have a significant impact on their future growth. Our experience of working closely with SMEs shows us that more and more businesses are being asked to demonstrate their responsible business credentials when bidding for contracts. We encourage the SMEs we invest in to integrate responsible practices into what they do each day, from their staff development to their advertising.  It makes commercial sense!

So, your business may be small, but don’t underestimate what you’re already achieving and how much more of an impact it could have on your future success.