**Scotland**: Over 330,000 SMEs in Scotland are vital for the economy, employing 1.2 million people. Peer collaboration and networking are key to their success, with initiatives like Help to Grow: Management providing essential support through mentoring, strategic connections, and shared experiences among business leaders.
Scotland’s small and medium-sized enterprises (SMEs) constitute a vital component of its economy, with over 330,000 registered businesses making up 99.3% of the private sector and employing more than 1.2 million individuals. The success of these SMEs is deemed crucial for the nation’s long-term economic wellbeing as the leaders behind these businesses strive to sustain operations, safeguard jobs, and foster growth both locally and internationally.
Recent data from the Small Business Charter indicates that collaboration among peers plays a significant role in the success of Scottish SMEs. Over half (56%) of small business owners reportedly seek advice from their fellow entrepreneurs, indicating a strong reliance on peer collaboration. However, findings also suggest that nearly 40% of these leaders believe that an increase in connections could enhance their confidence. This points to a potential for creating a more collaborative culture within the business community, which could enable firms to share expertise and experiences meaningfully. Moreover, close to a third of respondents stressed that support should be strategic and long-term to drive impactful changes.
The Federation of Small Businesses (FSB) has underscored the advantages of networking, revealing that businesses engaged in such activities are 30% more likely to experience growth compared to those operating in isolation. Furthermore, a study by the Association of Business Mentors (ABM) revealed that seven in ten businesses benefiting from mentoring survive for five years or more, outpacing their non-mentored counterparts. Mentoring not only aids in business growth but has also shown a positive impact on work-life balance, mental health, and confidence among business leaders, as reported by the ABM.
Despite the evident benefits, a quarter of business leaders participating in ABM research noted they found it more challenging than anticipated to identify a suitable mentor. For those seeking practical guidance and support, trade associations such as the FSB, local Chambers of Commerce, and business schools can serve as effective entry points. These organisations frequently organise networking events and offer mentoring schemes that cater to various industries and regions. Additionally, programmes like Help to Grow: Management provide a structured 12-week course encompassing networking, mentoring, and learning designed to bolster resilience and innovation within businesses.
Help to Grow: Management is backed by six Small Business Charter-accredited business schools throughout Scotland and is 90% funded by the UK Government. The course incorporates ten hours of one-to-one mentoring and grants access to an alumni network comprising thousands of business leaders who have faced similar challenges. Through ongoing events and extensive resources, participants gain support that extends well beyond the initial 12 weeks.
Pam Wilson, managing director of Kevin Wilson Master Builders in Stirling, shared her insights regarding the course after completing it at Stirling Management School. “The support, the peer groups, and the mentoring aspect were invaluable—business can be a lonely place, so the shared experiences were incredibly beneficial,” she stated. Similarly, Kerry Scott, people director from Motive Offshore Group, who took part in the course at Robert Gordon University’s Aberdeen Business School, noted that discussions with peers provided practical solutions to everyday business challenges. “It was great to connect with others facing the same issues,” she remarked.
By December 2024, nearly 1,000 SME leaders in Scotland had enrolled in the Help to Grow course. The emphasis on structured support and peer learning highlights a collective recognition among business owners of collaboration as a key element in navigating challenges and achieving success. As exemplified by collaborative projects undertaken by graduates at UWS School of Business & Creative Industries, peer support and mentoring not only facilitate survival but act as catalysts for innovation, growth, and resilience in the business landscape.
Flora Hamilton, executive director of Small Business Charter, noted the ongoing efforts to further expand the network of expert support available to assist Scottish firms in their growth journey.
Source: Noah Wire Services
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