Some say SMEs are the key to UK recovery. Nationally the Get Britain Trading Campaign along with some of the UK's best business brains are looking at a new wave of businesses and a co-creative approach.

Most definitions of an SME include businesses with 0-249 employees. According to the Federation of Small Business (FSB) just over 99% of private sector business in the UK is made up of SMEs.

More than half the working population is employed by small to medium businesses and make up roughly 50 % of the total UKs business turnover. The FSB has a Keep Trade Local campaign, which supports SMEs in gaining consumer confidence in buying from them as apposed to large competitors such as supermarkets and retail chains.

Historically our local area has had industries such as; needles, fish hooks, motorcycles, springs, nails, iron works, wool, engineering, coal and limestone mining, steel, glass cutting, leatherworks, textiles, carpets, boats and salt. Being in central England, the Midlands have a network of canals, railways and now motorways linking trade between the north and south.

In the 70s and 80s shopping precincts and industrial parks began to take precedence over the high street shops. Now many of the units are empty only phone shops, fashion chains, coffee shops and pound shops seem to have survived. Charity shops, hair salons and betting shops as well as every choice of bank branch are what seem to line high streets today. Large superstores have been built outside of town centres along with petrol stations offering consumers everything they could possibly need in one place, often under one brand.

Since the Internet at the turn of the century business and attitudes have changed. Gone are the days of shoulder pads and go get approach of the Thatcher years and the Blair era of fast growth and access to borrow. Living within their means is what individuals and families are adhering to. We now find a time of reality and a realisation that the nation has been fed misleading information and sold unlawful products from mortgages to meat. Sharing of knowledge is quick with everyone using the net and there is a trend of openness and free information that we have never seen before.

Reasons for setting up a business often include the desire to be your own boss, setting up in a specialised area, spotting a gap in the market or to get rich quick. With job losses and decrease of opportunities for work and a lack of job satisfaction in the types of work on offer these days such as call centres or supermarket checkouts, for some, finding a way to make money for themselves is far more appealing.

It’s often said that consumers are in the driving seat and keeping customer confidence is all-important for any size business. There is a general trend towards wanting quality, value for money, green and ethical products and services. People are waking up and want to know what they are eating, where did it come from, was it produced by companies loyal to human and animal rights? Understandably, a general trust in large organisations is faltering with shocking reports of the mis-conduct and mis-management in what used to be the back bone of our economy; namely the banking system, insurance companies, policy makers and even the renowned brands we buy. SMEs have no choice but to be more honourable; they are face to face with the customers and are instantly answerable. Their reputation is of personal integrity. Research has found that smaller companies are prompt payers, where as the large companies are known to be slow to pay debts and bills, putting much effort into avoiding tax.

Options for lending and grants for SMEs are available and recently includes, non-bank financing such as venture capitalists and peer-to-peer lending. This can enable growth for small companies though many are unaware of these opportunities. However, the real power behind any UK small company is in the public buying local and supporting the unique innovation.

SMEs are opening new markets and creating jobs, interesting jobs for employees to enjoy and gain knowledge from being part of a team within a growing organisation. There is an emotional challenge in setting up and running a business. A balanced approach to leadership, right values, right people and maximising talent and skills is known to be some of the basics for a successful business.

This business blog will case study local, unique and quirky SMEs and the people behind them who found a niche followed by success. Filling gaps in the market and providing increasingly popular products or services with co-creation seems to be the new strategy.