5 explanation why peer networks may benefit your corporation

Originally written by Partner Content on Small Business

2020 has proven to be a challenging year for SMEs in all sectors. Working with like-minded people to discuss key issues and opportunities can help companies navigate successfully through Covid-19 and the ongoing EU transition.

At a time when SMEs need effective support, working with other business leaders is a powerful way to share knowledge and find solutions in a trustworthy and collaborative environment – and the Peer Networks program run by the Corporate Department , Government Support Energy and Industry Strategy (BEIS) – aims to do just that.

What is the Peer Networks Program?

Peer Networks is an initiative that brings SMB companies together to help them work together on key challenges while finding concrete solutions in a collaborative environment.

The program is provided locally in England by the Network of Growth Hubs and supported by their respective Local Enterprise Partnerships (LEPs).

Peer networks will be an important part of the government’s drive to improve productivity and provide part of the economic response to the impact of Covid-19 on businesses.

It will support SMEs on their way into and through the recovery phase of the Covid-19 response, improve the ability of SMEs to adapt their business models to the “new normal”, position themselves for future success and drive longer-term growth through improved leadership and management skills and technical acceptance.

How can it help my business?

One of the most important aspects is having access to other SMEs to learn from each other. What better way to invest in the future of your business than by working with people who know the business best? Other business leaders. But there are also other advantages:

1 / Learn from your colleagues: Find solutions to the real problems your business is facing by working with other local business leaders who are facing similar challenges.

2 / All it takes is your time: There is no cost to joining peer networks other than a few hours of your time per month. You can participate in virtual meetings from the comfort of your home or office.

3 / Varied delivery, real results: Activities take place in structured, small group sessions led by an experienced professional facilitator to ensure that you see real results in return for the investment of your time. You also benefit from access to 1: 1 mentoring, coaching or advice, depending on the support you need.

4 / Not competitive: Peer Networks brings together leaders who work together to find solutions to common problems. You will not be placed in a group with competitors so you can share your expertise and benefit from others.

5 / National knowledge, local delivery: Peer Networks is supported by HM Government and provided by local growth hubs that understand your business landscape.

Peer Networks is open to any company that has been in operation for at least a year, employs at least five people, has sales of £ 100,000, and strives to improve and have the potential to scale or export or already export .

To learn more about Peer Networks or to register an interest in joining a cohort, please visit the Peer Networks website or contact your local Business Growth Hub advisor.

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