Management & Strategy

Small business, big plans

Steve Pateman (Head of UK banking, Santander), Jim Griffin (Managing director, Auto Insulations) and Stephen Hunt (Chief executive and owner, Ridgway Machines) discuss how SMEs can look for growth in a competitive world. Steve Pateman advises: 'There's a danger of confusing innovation with technology – they're not the same thing. Innovation is about enhancing everything you do and the customer's experience.' He goes on to explain that bankers have to find a way of supporting small firms' expansion 'in a way that doesn't crucify the business'. Jim Griffin says it's important that the bank sees the business in terms of 18-month cycles rather than short-term cycles; but Pateman adds: 'It's also about having the right capital structures, and this is up to the banking industry as much as anyone.'


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