An innovative scheme which was set up to support Sunderland’s independent, small businesses has been called “life changing” by the participants.
Sunderland’s BIDs – which includes the City Centre BID and the Seafront BID – launched the initiative late last year, inviting SMEs to take part in the Foundational Businesses Academy.
The bronze level sessions were run by retail expert, Karen Williamson, who over four masterclasses addressed issues including cashflow management, managing best sellers and supply chain, strategic pricing and margin management, cutting overheads and how to reduce waste across the business.
Karen’s advice also helped the participants to look at ways of working on rather than in their organisation, to help them prepare for future growth and the expected influx of footfall into the city centre and beyond.
Owners of hospitality, retail and beauty venues took part, including The Glass Onion in Blandford Street, Vallelys at Sea Road, The Art Café, BobaCat Kitchen, WEAR. Sunderland, Slice pizza, Jonathan Pickup hairdressing, Ashbrooke Home, Little Lambs Children’s Wear, Nominations, The Beach House at Roker and Harrison and Brown furniture store.
And every single participant – who took part in a final celebration event at the Sheepfolds – said the Academy had made a “life changing” difference to their business.
“From day one we were challenged, held accountable but also has a great deal of fun,” said Mark Milroy, owner of Slice.
Sam Johnston, owner of BobaCat Kitchen, added that taking part had “given me a clearer direction on how to be in control of my business.”
“I hadn’t owned a business before we launched BobaCat,” she revealed. “Everything I did was self taught so it was fantastic to get so much useful information.”
Through taking on board what they learned at the Academy, one company found that they were owed £11k in invoices which seemed to have slipped through the net while another recognised that their profit margins were too low.
Because of the success of the first cohort, the aim now is to introduce silver and gold levels which will look at subjects such as people management and personal behaviours.
At the final celebration, the graduates were joined by senior business people including Dame Irene Hays of Hays Travel, Sunderland University Chancellor and former CEO of Bravissimo Leanne Cahill and Helen Milford, on the board of both Sunderland University and Hays Travel and who also has years of experience in retail.
The guests watched presentations by all of the participants and then answered questions about their own business journeys.
Sharon Appleby, Chief Executive of Sunderland’s BIDS, said the Foundational Business Academy has been a huge success.
“Everyone involved had a different business background but without exception they have all agreed that this has made a massive and positive impact on them,” she said.
“They have taken so much away from this experience and applying it to their businesses, to help them make better use of their time and to be ready for the positive impact that Sunderland’s continued growth can have on them.”
For more information, please email info@sunderlandbid.co.uk
