28 September, 2015

Norfolk sees an explosion in new businesses

It’s great to be part of a region where entrepreneurs are ready to take the leap and make their business idea a reality. At Leading Strategies we have seen an explosion in new businesses popping up. In fact, a recent survey conducted by Inform Direct identified that 4,086 businesses were established in Norfolk alone in 2014 – a whopping 30pc increase from just five years ago.

As the economy continues to improve, the work that we undertake with clients also shows a very positive and confident trend. Many of our clients report that they have an optimistic outlook for the future as new contracts are won, expansion plans are implemented and new jobs created.

At Leading Strategies, one of our key indicators is how many businesses are still trading after year one. We know that many new business owners can be blinded by optimism and with a whole new skill set to acquire and a strange new world to navigate, the first year of trading can be very testing.

In Norfolk, in particular, surveys have shown that business owners across the board demand improved infrastructure, including refinements to transportation links such as the A11 and hopefully next the A47, and also increased broadband coverage to speed up connectivity. These issues are often easily weathered by more established businesses but for those with minimal resource, long journeys into London or even a drive across the County can be time consuming and take focus away from really getting the business moving forwards.

We work with clients to provide practical support and advice to help ease the pressure of this initial trading period. By drafting a comprehensive business plan which identifies specific milestones and objectives, we help keep our clients on track to achieve their goals. Using state of the art software, our business plans are used as a living document which is regularly revisited and updated to ensure that progress can be tracked effectively and plans for the future can be devised, monitored and where necessary adapted. You can find out more about what we do at www.leading.uk.com/leading-strategies/business-planning