Leicester Mercury | Time to tap into this county's diverse talent

When it comes to awarding contracts, businesses take all manner of things into consideration, including price, quality of the product, and customer relations. But what about ethnicity?

There is a target set by Government for 25 per cent of all public sector contracts to go out to small and medium-sized firms such as Texane, but there is currently no emphasis on ensuring these targets are inclusive to black and minority ethnic (BME) firms. I believe there should be.

BME businesses are successful drivers for our economy. The Government should be making sure they get a fair slice of the public sector pie.

While many start-ups fail, 70 per cent of BME businesses are still here after five years, and they grow 20 per cent faster than other small firms.

Read the full article on the Leicester Mercury online here.

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Rallying for diversity in business

The managing director of a Leicestershire firm is heading to the House of Lords today to promote diversity in business.

Arnab Dutt, managing director of Texane, will speak at a summit imploring key figures from Government to be more inclusive of minority ethnic firms in procurement in both the public and private sector.

“70 per cent of ethnic minority businesses are still here after five years,” explains Arnab Dutt, “and they grow 20 per cent faster than other small firms. Tapping into that entrepreneurial energy and success mindset is not just paying lip service to Corporate Social Responsibility. It’s adding value to your business.”

The summit is organised by Minority Supplier Development UK (MSDUK) and will offer policy recommendations to make public sector procurement more diverse across the country.

Despite an aspirational target set by Government for 25% of all public sector contracts to go out to SMEs like Texane, there is currently no emphasis on ensuring these targets are inclusive.

Texane, which manufactures super tough polyurethane wheels found on many of the escalators and travelators across the world, was bought by Arnab Dutt and was brought back from the brink of administration.

Based in Market Harborough, Leicestershire, Texane now supplies its super tough wheels to iconic subways and metros around the world, including New York, Washington and London.

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#ibacksmallbusiness

Four Federation of Small Business members tell us why they want a new Government to back small business ahead of the 2015 UK General Election. You can join the debate #ibacksmallbusiness.

"I want to break into new markets.

"We need a long term strategy for SMEs in the UK, structured and permanent, that will help us reach our potential. For my business to grow, I need better support to help me export more effectively."

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Gearing up for growth

SMEs are ready to push on after years in survival mode. Insider's round table discussed the challenges facing them as they progress and poses the question 'What can help SMEs grow?'

Arnab Dutt, managing director of Texane, said his business used innovation in the last few years to protect margins. Growing turnover was not a priority for the polyurethane components manufacturer and it instead targeted work with the highest growth margins.

"It meant a lot of investment in new technology and development which is difficult because sometimes it works and sometimes it doesn't," said Dutt.

Read the full article by buying a copy of Midlands Business Insider here.

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Logistics : Driving Growth

"Logistics is also all about how you organise the workspace so everything is where it should be from machinery to raw materials." 

At Texane the key to sound logistics is information and control, an end-to-end supply system that functions efficiently and delivers on time.

That means a level of cooperation in the supply chain where all parties know what is expected and have the information they need to ensure that Texane receives the raw materials to manufacture on the correct date.

It also means good information technology working with all your internal systems in a holistic way.

Read the full article on the Guardian Small Business Network here.

How can small businesses take the pain out of late payments?

If you are dealing direct with Government departments as an SME you are likely to be paid on time.

If on the other hand you are a second or third tier suppler as most small businesses are – the song remains the same and you are at the mercy of the accounts departments of the PLCs.

They will use all their leverage to get the most favourable payment terms. For most SMEs who do not want to lose that business or upset a customer, this is a cost that has to be absorbed. In the UK, small businesses finance big businesses and so far nothing the government has done in terms of legislation has seriously impacted this disgraceful scenario....

To read the full article, vist The Guardian here.