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Specialist help for SMEs in retail

Specialist help for SMEs in retail

Small business lending is never far from the headlines, as the government urges the UK population to set up shop or grow existing businesses. A very large proportion of SMEs – over 400,000, in fact – are in retail; and in 2010 the previous CEO of Moss Bros launched a service to help them.

Rowland Gee realised that many people may wish to start up or expand a business, but have no one to turn to for an experienced view as to what to do next.

Yet there was a growing pool of older in age but younger in spirit people who had held senior positions and could use their experience to help others, in everything from buying to warehousing and staffing to exporting, but there was no means whatsoever of the two coming together.

In June 2010, Rowland launched Grey4Gold.com – a professional business skills matching service which specialises in retail. The website http://www.Grey4Gold.com is designed to eliminate the barriers between those who are looking for some affordable and mentoring help for their business and those with the right experience and the time to be able to provide it.

It has built a database of over 1000 top quality people from many different backgrounds and specialisms who are willing to join in the initiative.

Grey4Gold (G4G) has already developed and implemented plans for Shropshire County Council (25% of shop space in Shropshire is vacant, about, 550 sites) and is working with Cheltenham, under the Town Centre Improvement Programme, to help local businesses under pressure and to advise start-ups, in order to help fill empty shops. Jane Rexworthy, CEO of the National Skills Academy for Retail, said the scheme had been designed to help independent retailers grow their businesses and to support start-ups in their first and most vulnerable year of trading. The scheme will offer retailers and town centre managers access to a team of retail experts from Grey4Gold who will offer support and guidance on subjects such as business planning, financial management, merchandising and buying, marketing and PR, property acquisition and multi-channel retailing.

Jane Rexworthy said, “The benefits of business mentoring are difficult to overstate. Each Grey4Gold mentor has considerable retail experience and a specialism in everything from management to logistics. She added, “Whether leading group sessions focusing on certain skill areas, or one-to-one sessions with new or struggling businesses, the Grey4Gold mentors will strengthen existing owners and help others turn retailing ideas into reality. There is so much untapped talent in the UK.”

Earlier this year, as Minister for Business & Enterprise, Mark Prisk said, “It is essential that the UK makes full use of the skills and talents that already exist in the community. I am delighted that Grey4Gold has risen to this challenge and is providing real hands on help to start-ups and SMEs.”

Grey4Gold is a founding company on the Mentorsme website.