The number of people working in one-or two-man companies has exploded in the last five years, according to information experts Experian.
It is estimated that there are almost 400,000 micro companies trading in the UK, up from only 140,000 in 2005. A recession might not seem the obvious time to set up a new business, but for many this is an ideal time to do it. The challenge for most of these micro businesses is surviving the first three years. The Government is hoping that many of these micro companies will grow and prosper resulting in the creation of new employment opportunities.
Unfortunately the odds are stacked against most micro firms. There seems to be a major stumbling when a company employs 10 – 100 people as research shows the insolvency rates double,” commented Exponential Director, John Moore. “If the UK government wants to help small businesses, then we need more top quality business coaches and consultants who understand the needs of growing companies and understand that small no longer needs to mean local”.
There are opportunities for small companies that have a quality product or service to operate outside of the traditional local market. In the past, international business was the domain of the multi-national corporation (MNC). Business coaches and owners need to get used to the concept of the ‘MICRO NATIONAL CORPORATION’.
An MNC has long been defined as a large corporation carrying out commercial activities for profit in more than one country and having its headquarters in one country, but activities extending across international borders. The advent of new information based communication systems has seen the growth of opportunities for the micro business to operate in much the same way.
Exponential is a case in point. As a traditional, regional training supplier geography acted as physical straight jacket with a focus on local or regional opportunities. Growth relied winning more and larger contracts, writing and presenting proposals requiring the employment of more trainers and administrators to cope with increased work volumes.
Two years on, a new vision and the effective use of low-cost, effective information technology (plus a lot of hard work), the company is rapidly becoming a MICRO NATIONAL: defined as a small corporation carrying out commercial activities for profit in more than one country and having its headquarters in one country, but activities extending across international borders.
How many micro companies have the potential to develop themselves as MICRO NATIONALS? How many business coaches and consultants know how to help their clients to grow into a MICRO NATIONAL? Over the coming months, In the Loop will be seeking out examples of MICRO NATIONALS, so if you know of any, please pass their details on to James Dillon as we are looking to showcase exemplar businesses and understand more about what makes a successful MICRO NATIONAL ENTREPRENEUR.