As part of the BEST Growth Hub’s objective to provide ongoing support to Essex businesses and particularly in response to the adverse impact of the COVID 19 pandemic, is the development and introduction of a unique Business Assessment & Adaptation Programme.
The Programme is essentially designed to assist businesses in the difficult decisions of what and how they need to adapt to meet new challenges brought about by the COVID 19 crisis.
Business support, for those that meet the eligibility criteria, will consist of up to 12 hours of free advice within the following process:
- Businesses will need to complete an online Pivoting Assessment Tool (PAT) by answering a number of weighted questions relating to the business’ key drivers.
- Each PAT will be analysed by expert Business Advisors with extensive experience and knowledge of business practice and transformation.
- Each business will be able to see their analysis straight away.
- Through illustrative charts and recommendations, the main aim of the PAR is to give the business some indication of which key drivers and sub drivers should be the focus of adaptation to meet new market conditions and the priority in which they should be addressed.
- For eligible businesses the PAR will form the basis of subsequent free brainstorming sessions with a BEST Growth Hub Business Advisor, the outcome of which will be an Adaptation Action Plan and form part of ongoing support for the business along its adaptation journey and beyond.
In order for businesses to be eligible for up to 12 hours free advice, they must meet the criteria below. Potential candidates will be contacted by a Business Adaptation Advisor to arrange an appointment to discuss their bespoke Pivoting Assessment Report.
- A registered company in the UK and based in Essex.
- Trading for at least 2 consecutive years.
- Minimum turnover of £250k pa.
- Minimum FTE of 3.
- Adversely affected by the COVID 19 pandemic.
- Has the potential, aspiration, and commitment to adapt its business model, or operations, or product/service offering or refocus its target marketing.
- Is looking for advice and support to pivot the business in a direction that is appropriate under a transformed economy and commercial environment.
Business currently on the Programme are from a number of diverse sectors including Care, Manufacturing, Leisure & Hospitality, Food Processing, Construction, Recruitment, & Law.
Key pivoting actions include
- New Product Development
- Staff Redeployment
- Positioning & Market Research