This week, we celebrated ten years of the Fast Growth 50. Here is a video interview which I undertook with Sion Barry to discuss the origins and success of the project.
When we talk about start-ups and entrepreneurship, rarely do we discuss the potential of franchising not only as a way of establishing new ventures in the economy but also as a method of growing existing businesses. According to the British Franchising Association, franchising is the granting of a licence by one person (the franchisor) to another (the franchisee), which entitles the franchisee to own and operate their own business under the brand, systems and proven business model of the franchisor. The franchisee also receives initial training and ongoing support, comprising all the elements necessary to establish a previously untrained person in the business. This enables individuals to start their own businesses without having to develop their own ideas and utilising an existing brand and established market. Of course, whilst each franchise business is owned and operated by the franchisee, the franchisor controls the quality and standards of the way in which the business is
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As stated, the piece quoted was written by Sion Barry, business editor of the Western Mail, and I didn't have anything to do with it. Of course, I was naturally flattered by what he said, as Sion normally does not take prisoners.
However, what saddens me is the attempt to belittle the fast growth 50 project, and everything it does for the firms who take part.
The project is apolitical and focuses on the success of indigenous businesses.
It is their comments and those of the business sector which are important.
Let me share two with you which I have received in the last couple of days alone:
“Just wanted to thank you for all your sterling efforts in organizing Friday’s event, and everything that preceded it. My colleague and our wives thoroughly enjoyed the evening, and even though we didn’t win an award found the whole thing engaging and really quite exciting. You have somehow managed to turn a cynic into an enthusiast – I’d like to be able to attend again”.
“This just a note to thank you for the Fast Growth 50 gala dinner on Friday. I really enjoyed being there and that you for making that possible. I thought your setting of the scene speech was absolutely terrific. Apart from setting a very positive atmosphere for the rest of the evening, it reminded me and I’m sure most of us, of the important contribution these companies are making. No message could be more important at this difficult time."
I think that says it all.