Peer Networks is a national initiative funded by the Government Department for Business, Energy and Industrial Strategy. Launched in 2020 as a pilot, it encourages business leaders to learn, share and grow via practical, no-nonsense support from other local businesses.
The initiative’s longer-term aims are focused on reducing the UK productivity gap by helping business leaders find practical solutions to strategic and operational challenges. It also forms part of the Government’s response to the Covid-19 pandemic and the EU transition, seeking to improve the resilience of SMEs, their capability to adapt their business models to the “new normal” and position themselves for future success, driving longer-term productivity gains.
In Lancashire, Peer Networks is delivered by Boost, whereby a range of delivery organisations, including Growth Lancashire, have been commissioned to set up diverse cohorts of peer-to-peer groups to collaboratively work through common business issues.
Each cohort includes interactive action learning, trained facilitators, small groups, flexible topic selection, and one-to-one coaching. The programme is structured around at least 18 hours of group activity, supplemented by more than 3 hours of one-to-one coaching.
Growth Lancashire’s Peer Network first met in November 2020. Consisting of 11 SME owners/managers, the cohort is a diverse mix of manufacturing and service sector businesses. The group meet fortnightly for a 2-hour peer support session, facilitated by our experienced Relationship Managers, who also provide wider wrap-around support through the delivery of our Boost contract.
Topics covered to date include finance, marketing, digital transformation, data, as well as leadership and management. We look forward to future activity through the Peer Networks initiative.