About the Institute for Independent Business

 

The Institute for Independent Business is a not-for-profit research and accreditation organisation established in 1984 to give independent businesses direct access to some of the country's top business people so bringing practical advice & timely ideas to the business.   The IIB is the largest organisation of its type in Europe With over 1,000 Executive Associates having now been through our accreditation process, working with businesses mostly within the 'small to medium sized' (SME) sector, in placing at their disposal mature senior executives to use as 'sounding boards' and support and mentoring whenever and wherever is required, drawing on one of the most comprehensive support infrastructures in the world, during which time issues arising within any aspect of the business can be addressed. The IIB has five main aims: To bring to independent business the most practical advice and timely ideas from knowledgeable experts and business innovators; to open doors to important and profitable opportunities; to raise the professional standards of independent business practice; to enhance the image of business leaders and all other executives working within the independent business sector. To advance the understanding of the workings of independent business by research in relevant fields, alone or in co-operation with other interested and competent bodies. To provide research facilities pertaining to independent business for the benefit of and use by other persons or bodies. To disseminate such findings and information as may be useful to the operators of independent business by all means expedient, more particularly through training courses, educational programmes, conferences, journals and other publications or media. To educate and train those working within the independent business sector to such a standard that they may confidently work independently at the appropriate level. Independent businesses often operate in isolation without the networks of contacts and information services available to large companies. They typically lack the fundamental skills in key aspects of management that are required to develop a truly successful business. The organisations purporting to supply help and information were poorly sign posted and inaccessible for most small to medium sized enterprises (SMEs). They were also largely governmental, bureaucratic and remote in nature. The Institute attempted to fill this gap by offering a single reference point where SMEs could obtain relevant information and support. The main means of disseminating information was a monthly publication, Small Business Today which contained items of particular interest to SMEs including details of grants and loan schemes, and effects of changes in legislation. Management techniques used successfully in large businesses were reported on, modified for use by managers in smaller businesses. Regular articles covered training, finance and marketing. Although many commercial computerised databases were rapidly coming on stream - these were largely inaccessible to SMEs, who typically lacked the computer equipment and expertise to access the systems. The Institute, therefore, subscribed to numerous databases covering such matters as raising finance, obtaining government grants, sourcing materials and supplies, training and educational courses, and marketing information. We aimed to provide our growing membership with rapid centralised access to a wealth of information. The Institute carried out a variety of adhoc pieces of research into the needs of the independent business sector. This led to the introduction of a 'company mentoring scheme' whereby successful directors of established businesses undertook to act as mentors to owners, managers or directors of start-up businesses. In practice, the difficulties of matching skills with requirements in the right place and at the right time for both parties saw the eventual demise of the scheme. Equally, a business introduction service to facilitate equity investment by business angels into independent businesses was popular in concept but was rapidly buried under the weight of regulations and the difficulty in finding appropriate matches. Even with such encouragements as the Business Expansion Scheme, the Institute could not compensate for the lack of suitably entrepreneurial investment opportunities. The Advisor Scheme continued to grow at such a rate that it was soon necessary to publish a separate directory of specialist advisers. The Index of Experts was published early in 1989, and in 1990 a larger edition was published and circulated to over 25,000 directors and managers in independent businesses. Further research, both by the Institute, and more importantly by several academic institutions , had indicated that the SME sector required not only information and advice in order to survive and grow, but also practical assistance in the form of both process and expert consultancy. In order to be effective, a practical implementation phase was also required. It was evident that the major consultancy practices were generally unable or unwilling to fulfil this need as their cost structures and style of consultancy were generally not appropriate to the SME sector. Coincidentally, at this time, large numbers of senior and middle managers with many years experience of running businesses or departments were coming on to the employment market because of downsizing and recessional restructuring. Many of these individuals had excellent skills and knowledge which could be deployed in the SME sector if only the correct means of delivery could be established. Our original Small Business Today publication has recently been replaced by a much expanded and targeted Independent Business Today magazine which will be initially published quarterly. IBT has been structured to bring the independent business owner not only current topical information but also jargon-free academic research, information on new business techniques, and practical articles on training and personal development. The Institute regularly publishes summaries of relevant academic research which will be available both in hard copy form and in the Net. Look at our pages for updates and lists of available material. Why bother with Small to Medium Sized businesses? According to national statistics in the last few years of the 20th century, 99.5% of all businesses in the UK economy employ fewer than 200 people, 98% employ fewer than 50 people and 96.4% employ fewer than 20 people! These figures clearly illustrate the importance of caring for the SMEs rather than aiming initiatives at the larger companies who can already afford to buy in expertise and a full board of professional directors on whom the large company Managing Director can call on at any time for specialist advise and assistance. However, the person responsible for an SME has no such facility and is expected to know everything, keep up with everything and do everything themselves. Clearly a very unsatisfactory situation especially as in most cases that person cannot be expected to 'know what they don't know'. What about practical assistance? Further research, both by the Institute, and by several academic organisations, had indicated that the SME sector required not only information and advice in order to survive and grow, but also practical assistance, preferably from more mature business executives who had 'been there, seen it and done it'. In order to be effective, a practical implementation phase was also required. It was also evident that any sort of traditional consultancy was inappropriate as consultancy practices were generally unable or unwilling to fulfil this need as their cost structures and style were generally not appropriate to the SME sector. Coincidentally, at this time, large numbers of senior executives with many years experience of running businesses or departments were coming on to the employment market because of downsizing and recessional restructuring. Many of these individuals were top names in the business world and had excellent skills and knowledge which could be deployed in the SME sector if only the correct means of delivery could be established. Who are the IIB Executive Associates? All IIB Executive Associates who attend meetings with Managing Directors and Proprietors of businesses are themselves senior executives from any and every profession, background and industry imaginable. Almost all our Executives are mature business people over forty years old, (with our average ages being approximately 54 years), who have been Chief Executives, Managing Directors or Executive Board Directors themselves, and having thus experienced first hand the pressures, stresses and joys of running a business, with many having started up, run and eventually sold their own businesses and others having run some of the best known businesses in the world. In short, our Executive Associates have 'been there, seen it, and survived to tell the story'! What publications are available from the Institute? Our Independent Business Today magazine has been structured to bring those responsible for making business decisions not only current topical information but also jargon-free academic research, information on new business techniques, and practical articles on training and personal development. The Institute also regularly publishes summaries of relevant academic research which will be available both in hard copy form and on the Web.