There is currently a dearth of articles available in the news, both online and in print, about the so-called process of leveling up. These stories generally detail how Northern businesses in the UK will be able to make use of highly targeted and specific national and local government support and finance to make everlasting positive changes to the lives of all regions of the country. However, there are certain business basics that all northern businesses should be aware of if they believe themselves capable of using this said leveling-up support.
Keep up to date with funding opportunities
With increased funding pots available, it is essential to keep up to date as to these funding opportunities and ensure that the business is in a position to use and access this funding for the benefit of your business. One way to ensure you are up to date with all the latest funding opportunities is to get yourself on any and all mailing lists related to funding for businesses in the north. This will keep you tapped into any new opportunities that you might otherwise have missed. Government business funding websites and newsletters as to possible new sources of funding or sector-specific funds that are being made available is a great way of staying abreast of the available opportunities.
IT infrastructure and skills
Your business must be able to make use of the best new technologies to compete internationally is essential for any business. Regardless of what it is the business does or how big or small, the use of the most appropriate information technology is one of the primary ways to develop and grow a business in the modern age. This means making sure you have the hardware to support any production but also the software and cloud-based applications to give you the flexibility and global opportunities any business needs. For many, the idea of access to government grants and funding may be seen as a way to then purchase and develop the IT component, but unfortunately, it may already be too late. Instead of playing catch up with your competitors and the businesses in the south, across the economic divide, ensure that your IT is where it needs to be, and you have the skills to develop it further.
The HR skills
To hire, train and retain the best talent in the country rather than just in the north. It’s also worth noting that localized HR has proven to work best in these situations at this moment. They know the lay of the land, the local cultures, and networks. So if you’re in the north, HR in Doncaster will provide the type of professional service that you need to develop the human factor to be able to compete. Look and think local when it comes to the support that you will need. It just makes logical sense to look to spend any outlay in local areas, and it is the local HR who will be able to find you the best in the way of such local talent.
Financial planning
The ability to cogently plan for the long term and be in a position to use the funding that is available for Northern business growth will require professional financial management and strategic financial management that will ensure that such funds are used in a sustainable and profitable fashion.
Logistics, warehousing, and transport
Having the best products and services in the world and the best information technology set up to be able to reach and sell such products and services will mean naught if you aren’t able to move the goods and services aren’t able to reach the clients and customers. Developing your local logistics networks, storage options, and the associated transport will be critical for any northern business to reach the rest of the country, let alone the continent and beyond.
The news about leveling up the North of England has been in all the papers, and although it is now being said that the money is available, we have yet to see the results and the fruits of such leveling up. However, as noted in this article, it will be essential for any Northern businesses that want to benefit from being ready and prepared to take advantage of any structural and financial changes that are made to amend the longstanding historical economic divides. If leveling up is to work, then both government and the recipient businesses need to be primed for growth and development.
