This week we talked about different issues which impacted across sectors, and the things business owners might find themselves struggling with

Breakfast Insights

Posted on Monday, March 18th, 2019

MEG is a mutually supportive networking group, where we encourage members to participate without pressure.

Intellectual Property

How aware are businesses about protecting their assets? Intellectual property rights (IP) can be something of a maze without the right guidance, but luckily, at MEG we have our own expert on hand, Jacob O’Brien.

We all know about the importance of a USP and finding a way to differentiate yourself in the market, but what if this is at risk from intellectual property theft?

What specialised legal advice can do is help to demystify IP, and provide clarity to businesses about what they need to protect, and how they can go about doing it.

Ancient Communications

IT and Telecoms Director Paul Sherlock pointed out that 2025 is the deadline for when BT will shut down its ISDN network.

What is interesting about this is that despite the age of the Integrated Services Digital Network, around one million businesses are still dependent on it.

This demonstrates that however forward-thinking we think we are, not everyone’s business is at the same stage of advancement.

Consequently, when it comes to business support, there are likely to be fundamental issues that people need help with, and that we shouldn’t take anything for granted.

Finding Funding

Some businesses may be discovering that investors are thin on the ground.

How aware are they about alternative funding providers and solutions?

Where banks might prove reluctant, or offer loans with too many strings attached, there are other sources.

What we commented on was how it seemed many businesses were unaware of these resources, in the same way that, for example, they didn’t realise the sort of money they could claim back for research and development (R&D).

Therefore, a big part of business support should focus on awareness raising.

Uncertainty is in the Air…

There was also mention of a theme underpinning much business talk and activity: uncertainty.

Current political situation has many people in the business community worried, and while things are undecided, this has, in turn, stalled much investment and decision-making.

Is the danger that people will turn inwards and focus on protecting income rather than growing it, and if so, how will this impact on businesses in Greater Manchester in general?

Watch this space.

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