Why Striver?
Micro businesses comprise a major proportion of the UK private sector
At the start of 2019, there were 5.6m micro businesses in the UK (0-9 employees) accounting for 21.7% of total UK private sector business turnover. This was an increase of 80% since 2000
(Department for Business, Energy and Industrial Strategy, Statistical Release October 2019).
Micro Businesses need help post Covid-19
Whereas there has been some short term financial relief provided to qualifying micro businesses, the key to survival will be the ability to carry-on/restart trading as quickly and robustly as possible as the lockdown eases. However, micro businesses do not have the same access to the resources, tools, budgets and expertise enjoyed by larger firms. Where services are available, it is time consuming for micro-businesses to research the options and they often do not have the expertise to make the best purchasing decisions.
Striver is not just for existing businesses. We see it as a fundamental part of a start-up tool kit.
Vouchers are not enough!
The Striver test market/pilot was launched in April as a “future trading voucher scheme” by a group of Senior Business people with the enthusiasm and skills to assist micro businesses during the initial lockdown. However, it has become clear that the opportunity (and requirement) to assist is much larger.
The Striver Opportunity
To redevelop the existing platform for micro businesses providing easy access to both the tools and advice that will make it easier for them, to bounce back strongly from the recent COVID-19 disruption and, in the longer term, to “strive” forward towards their ambition in the new economic, social and digital environment.
How will it work?
Services
Striver membership will provide micro businesses with a “one stop shop” access to a range of services and advice tailored to their situation with particular emphasis on:
Customer Connection and Revenue Generation
“Off the shelf” Tools including:
- Customer connection tools including customer database management, websites, social media and new sales platforms
- Revenue generation tools that they can easily implement and tailor to their brand and customers (e.g. special offers, future business vouchers, community mailings)
- Business management schemes such as assistance with bookings and staff rostering
- Easy access to other potential 3rd party support – suppliers, professional services and Government assistance
Training and Advice:
- Education services including webinars and training courses
- Inspiration events including webinars, videos, conferences and articles from leading figures in various aspects ofbusiness sectors
- Advice line where ‘Strivers’ can “ask the expert” on a range of topics
Community Services:
- Striver Forums where members can share experiences/ideas and learn from each other. Subsets of this will be industry specific
- Collaboration Centre Bring ‘Strivers’ together to look for collaboration opportunities including joint promotion, business service discounts and synergy through joint buying
- Recognition Create both PR/promotion of services and a sense of self-esteem/pride through activities incl uding endorsement, Striver as a quality mark and Striver Community Award Schemes
Membership and Recruitment
Striver membership will not be specific to any individual industry. The common factor is ambition:
- A desire to ensure a solid platform for the future
- Recognition that success is a team game and that they will be stronger in the future by associating with, and get-ting help from others
Strivers may, therefore, be hairdressers/beauticians, newsagents, café owners, dog walkers, piano teachers/tuners, car valets, driving instructors, painter/decorators, language teachers, antique shop owners, florists….and many more.
Striver recruitment will consist of a mix of:
- Direct recruitment through email and social media
- “Member get member” schemes
- Distribution through partner organisations including – trade associations, public sector bodies and suppliers to micro businesses
Revenue Streams
We anticipate a number of revenue streams including:
- A small membership fee giving access to community services and a selection of tools and advice
- A selection of additional paid services (from the tools, advice and community events)
- Third party sponsorship and advertising as the membership reaches critical mass
Where next?
Research and Concept testing
- Live test website launched April 2020
- Micro UK business attitude survey (June 2020)
- Potential partner/Third party concept introduction (June 2020)
- Micro business focus groups and concept test (June 2020)
Finalisation of concept and prioritisation of UK service development (end June)
Global expansion research and development phase
• Fundamental design phase will be scalable to wider jurisdictions
Management Team
The Team behind Striver is an Edinburgh based group of senior business figures including current and former CEOs, successful Entrepreneurs, finance experts and digital marketing professionals.
Partners – Striver is already working closely with a number of both private and public organisations committed to the micro business community.
