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The Four Grand Challenges for Business

4th June 2019

Small businesses deserve to have a voice in the future for the British Economy. Earlier this year, Grant-Jones had just that opportunity when we were invited to write a feature article for The Parliamentary Review.

This publication reflects the views of both large and small businesses across the country and from a wide range of industries and we grasped the challenge with both hands. This article isn’t about us ‘blowing our own trumpet,’ though. The Introduction to the review is always written by the Prime Minister of the day and Theresa May shared a new government initiative called the Four Grand Challenges.

You can read what she has to say here (our article appears on page 20 and 21 if you are interested!)

The Four Challenges

The Four Grand Challenges, currently a policy paper being developed by the Deptment for Business, Energy and Industrial strategy (BEIS) is still early thinking but its focus is on securing a prosperous future for Britain. BEIS is looking ahead – beyond Brexit and the current uncertainty it creates and seeing what is on the horizon for the longer term. They are developing targets in four areas they see as big drivers of social and economic change in the world today:

• Harnessing artificial intelligence and the data revolution

• Leading in changes to the future of mobility

• Meeting the challenges of our ageing society

• Driving ahead the revolution in clean growth

These are big topics and it is easy for a small business to think the grand challenges don’t apply to them.

I disagree.

Take action now for the future of your business

If your aim is to grow - if you want to take your six figure business to become a 7 figure business and beyond, by the time these policies are embedded, it will be you who is leading the way.

• You will be the thriving business which has exploited the emerging technologies and has their finger on the pulse of what is going on for your business through effective use of data.

• You will be the thriving business which saw how you could use technology to employ the best people and see them working in the best locations around the world, regardless of where they live.

• You will be the thriving business who has highly skilled teams with a mix of ages and tailors their benefits to fit the mixed demo graphics, making you the employer of choice in a shrinking skills market.

• You will be the thriving business who made changes when you were small so that everything you do is already within the latest clean requirements and you have that philosophy built in so new regulations are easy to implement or already there.

That is what makes the four grand challenges a matter for your attention now, as a small business. Over the next few weeks I plan to explore each of these four grand challenges in more depth. We will consider what small businesses can be doing now to prepare for their future and what is already on offer for them.

Together, lets take on the grand challenge in your own business.

Grant-Jones Accountancy offers a free initial consultation to show you how your business can grow and make the most of the opportunities available to you. To arrange a meeting, click here


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