Starting and running a small or medium-sized enterprise can be a challenging task. SMEs often have limited resources and expertise, which can make it difficult to navigate the complex business environment. Business support services bring big support systems to small businesses. Whether through access to other SMEs to share experiences or through commercial consultation and advice.
Finding the right support can make a world of difference.
Why SME Support Services Matter
One of the most significant benefits that these organisations and institutions provide is the ability to tap into expertise that you might not have in-house. They bring together teams of experienced professionals who can advise on topics from business planning to finance, marketing, and human resources. This can be particularly valuable if you’re just starting out and need guidance on growing and developing your business.
Networking is also a vital part of the offering. There are many organisations in Oxfordshire hosting networking opportunities for SMEs, including events, conferences, and forums. These events allow you to meet and connect with other businesses in your industry, where you can share ideas and best practices and build valuable relationships. Networking not only helps you to learn, but it can help you to expand your customer base, access new markets, and find new opportunities for growth.
We then have raising finance and investment. Many businesses will need to seek out these opportunities at some point, and these business support organisations have connections with funding bodies, investors, and other sources of finance. They can help you to identify funding opportunities, prepare funding applications, and connect with potential investors. This can be crucial for those who need capital to grow but may not have the resources or experience to secure funding on their own.
Oxfordshire’s Top 8 SME Support Sources
With our proximity to some of the world’s most prestigious universities, a thriving startup scene and a healthy entrepreneurial culture, Oxfordshire is not short on organisations that can help SMEs to grow and succeed.
These are our favourites:
1. OxLEP
A partnership between businesses, local authorities, and educational institutions that aims to support economic growth in Oxfordshire. They offer various services, including networking events, funding opportunities, and business support programs.
2. Oxfordshire Chamber of Commerce
Offers a range of services to local businesses, including networking events, business advice, training courses, and marketing opportunities.
3. Enterprising Oxford
Designed to support and promote entrepreneurship at the University of Oxford, Enterprising Oxford offers resources and events for students, staff, and alumni to help them start and grow businesses, develop entrepreneurial skills, and connect with like-minded individuals.
4. Oxfordshire Business First
Run as a not-for-profit, Oxfordshire First promotes entrepreneurship, facilitates business innovation, shares best practices amongst its community and campaigns for 21st-century infrastructure that supports the business community for the long term.
5. The Oxfordshire Growth Hub
Part of OxLEP, the Growth Hub helps to simplify the business support landscape by making it easier for businesses and individuals to connect with their peers and other professionals.
6. The Oxford Trust
Encouraging the pursuit of science, The Oxford Trust funds and facilitates innovation, education and engagement for the advancement of science. The institution supports young people to get into STEM subjects and offers first-class facilities to entrepreneurs and innovators in the field.
7. Oxford University Innovation
The technology transfer company of the University of Oxford, OUI provide support to startups and spin-outs based on the University’s research. They offer services such as mentoring, access to funding opportunities, and business advice.
8. Oxfordshire International Business Club
Run by Venturefest, the Oxfordshire International Business Club is a networking group for businesses in Oxfordshire that have an international focus. They organise events and workshops focused on exporting, importing, and international trade.
To learn more about building and running a business in Oxfordshire, check out our news page, where we regularly publish articles to help Oxfordshire businesses thrive.