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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Is there a strong enough business case for HS2?

I think that the anti HS2 PR has engulfed everyone. The Government and Department for Transport haven’t been forceful enough in making the case for HS2. 

If we don’t invest in HS2, our network grinds to a halt in 2025. There will simply not be enough capacity for the huge growth in passengers and rail freight.
We are trying to operate a Victorian railway network minus the Beeching cuts in the 21st century, and that is obviously not going to be enough for our future needs, especially as we want to encourage more freight to get off the congested roads and switch to the greener alternative of rail.

In my view, they are taking far too long to implement HS2. We should be connecting London, Birmingham, Liverpool and Scotland now, not over the next 30 years.

I would also suggest that the Institute of Directors should not have come out against HS2 on the basis that its members are against it because its members are clearly ill informed to have reached that conclusion. They don’t understand the structural issues, that HS2 is fundamentally important. It is not about shaving 20 minutes off a journey to Birmingham. It’s about creating the rail capacity that the country needs as the economy grows. But that message isn’t getting across.

Arnab Dutt is the managing director of British exporter and manufacturer Texane, and is a public member of Network Rail. To see the full article on Elite Business, click 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.