Rachel Reeves is Labour MP for Leeds West and is also Chair of the Business, Energy and Industrial Strategy Select Committee (BEIS).
Eight of the 17 delegates had undertaken the Goldman Sachs 10,000 Small Businesses programme which is designed to provide high-quality, practical education and business support to leaders of high-growth small businesses and social enterprises across the country.
During the discussion the delegates discussed the success the programme has in increasing productivity of the businesses and how they use the peer-to-peer network created as part of the programme to further enhance their growth long after they graduate.
The group discussed challenges facing SMEs such as bigger businesses taking longer periods to pay their bills which creates problems for cash flow. They also discussed how government procurement processes can be improved for small businesses and how recruiting the right staff can be difficult but ultimately worth the investment of time and effort.
Professor Underwood commented: “It was great to get together with such a diverse range of businesses who were able to share the challenges and opportunities they face operating as SMEs in and out of the UK. I was pleased to share with Rachel Reeves MP how the Goldman Sach 10,000 Small Businesses programme raises confidence and brings focus to participants’ growth journeys.”