By Kevin Brent founder
and MD of business support provider BizSmart
Often,
they bring together senior leaders who share similar job roles but work in
different sectors, and this encourages dynamic thinking and provides fresh
perspectives on ideas and challenges
It
is safe to say that most companies in the UK faced more challenges than ever
before in 2020. However, one hugely positive thing that came out of last year
was the growth of peer-to-peer business support, underpinned by the help and
encouragement business owners showed one another.
The
pandemic has served to reinforce the importance of peer-to-peer support for
entrepreneurs to overcome challenges and keep moving forward. However, it is
not only integral during times of adversity – it will be crucial for those
looking to resume their growth strategies post-pandemic and there is no better
time than now to get involved.
What is peer-to -peer
support?
‘Peer-to-peer
support’ networks encourage likeminded business leaders to share brilliant
ideas, best practice and learn from one another. Often, they bring together
senior leaders who share similar job roles but work in different sectors, and
this encourages dynamic thinking and provides fresh perspectives on ideas and challenges.
Each
session offers group members the chance to ask questions, seek advice, find out
about others’ experiences, and share fears, concerns and successes. Members
feel safe and able to express themselves in a non-judgemental environment where
everyone is there to help one another.
The benefits
According
to research, peer groups enable businesses to advance growth by two
to three times their normal levels, and BizSmart’s own research
shows that 90% of business owners asked found peer-to-peer
support instrumental during the pandemic last year.
When
compared with other sources of business support, only 8% of business owners
said they would seek advice from a close family member or friend, and this
demonstrates that nothing quite compares to the value of working with
like-minded professionals.
It
is the personal experience of running a business that makes peer-to-peer
support distinct from the counsel of friends and family. Peer group members
understand the responsibility and pressures of being at the helm of a business
in a way that others simply cannot.
Peer-to-peer
support could be a lifeline for many businesses this year. Group members can be
a great source of information, pragmatic advice and mentoring and, by leaning
on individuals who have already ‘been there, done that’, entrepreneurs can
create valuable returns for their business, position themselves for future
success and drive longer term business growth.
How you can get
involved in delivering peer-to-peer support
‘Peer
Networks’ is a Government led support initiative created by the Department for
Business, Energy and Industrial Strategy, that encourages UK business leaders
to invest in the growth and development of their company by working closely
with their peers.
Following
the economic impact of the pandemic, Peer Networks have recruited the
assistance of regional business support providers to help business owners
surpass current challenges and grow in 2021.
Having
delivered our own successful peer-to-peer learning programmes over the last
eight years, BizSmart has seen the incredible impact it can have in helping
business leaders create a clear and consistent strategy for growth.
This
initiative allows potential BizSmart Franchisees to establish their own client
base as businesses become more aware of the power of peer-to-peer learning.
Those who take part will reap the benefits of the initiative, and many will
look to continue peer-to-peer support once it concludes, offering Franchisees a
great opportunity to establish their own client base.
Why now is the time to
join the BizSmart Franchise
Businesses
up and down the UK are looking at how they can grow following the setbacks
caused by COVID-19, and there has never been a better time to launch a
business-to-business ScaleUp programme under our guidance and support.
Business
owners are looking for help in these economically challenging times to scale
their businesses on strong foundations and build value as they develop and
grow. By utilising our programmes, Franchisees can build their own profitable
businesses whilst helping SMEs develop growth strategies that will deliver
value.
To find out more,
visit: BizSmart