CTU May Video Blog

We've been sending out surveys to find out what you love about Camden, what needs to be improved, and where CTU should be focused. We're delighted that a majority of you have recognised a real improvement across the board since CTU was voted in, and from the feedback so far we recognise real concerns to include business rates, small businesses being pushed out and retaining the character of Camden. All of these things we lobby on, shout about and strive to continue to make real a difference! If you would like to fill in this survey, please do so, we'd love to hear from you! https://www.surveymonkey.com/s/CTUsur...

We're very excited that a new BID is in the pipeline to cover Euston - improving this area for businesses will of course be beneficial to Camden too. But more information on that another time! 

The Mayor of Camden is hosting a breakfast on May 15th. It's a great chance for us to catch up with business leaders of Camden, gauge what you're happy with and what needs to be worked on, and continue to serve your interests as best as possible. All BID members are invited - please get in touch if you haven't received an invite yet! You can RSVP to rsvp@camdentownunlimited.com. 

And finally, Bridge the Gap - an event held by the Mayor on May 28th to celebrate the amazing diversity of Camden. Create and repair relationships, embrace differences, enjoy a variety of local art and music - be there! http://www.bridgethegapcamden.org. 

That's all for this month! Subscribe, get in contact, tweet us, like our Facebook page - we want to hear from you!

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Third option for micro biz finance

I keep speaking with micro businesses, and people trying to help them, about access to funding.  It's obviously a perennial problem and one that all governments seem to struggle with, never mind the entrepreneurs trying to grow their businesses and thereby our economy.  The obvious solutions come in two forms.  Either you borrow from the bank, assuming they'll lend to you and you have the stomach and acres of time to deal with them, their forms and their constant monitoring (I once received a threat of a £50 fine from my bank for failing to complete a minor form on a loan I'd already repaid), or you gift large amounts of equity to equally time consuming, and hungry, investors.  Neither option is terribly appealing or that practical to your typical micro business person, struggling to build their business.

But I recently came across another solution.  How about a bigger business, who's nervously sitting on it's cash, taking a micro under it's wing, in return for some equity, and giving it access to itself?  Bigger businesses can usually borrow at silly rates right now and have access to economies of scale.  What what if  it took a suitable start up, in the same sector, under it's wing and grew it just by letting it have access to the same facilities it uses?  The benefits to both businesses are obvious, especially as the parent gets to effectively grow new talent from within (take a look at what Google's up to) without having to put very much in place.  We all know that growing entrepreneurs from within a workforce is almost pointless yet these are the people you need if you're going to stay ahead.

Can't say more at this stage but let's just say that I learned about this idea from personal experience.  The real trick for the economy would be for government to find a way to facilitate this sort of thing on a wide scale.  I've no idea which economic model it fits into, but it feels like a market intervention worth pursuing to me.

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Latest CTU Update - April 2012