EUKN - European Urban Knowledge Network - ProfitNet - Peer network to boost local SME performance

ProfitNet - Peer network to boost local SME performance – Brighton, UK

Introduction

The University of Brighton developed a peer network - ProfitNet – to support the local business community. Through this network, the university makes available its own expertise to local entrepreneurs, whilst at the same time forging links between local businesses. Over 300 companies have joined ProfitNet. Participation in the network is free – however, participants need to contribute time and their expertise. With 94 per cent of the participants saying they have benefited from participation in the network, the ProfitNet approach can be called very successful.

Description

ProfitNet is a free learning network with over 300 members from across the Sussex region. It was developed to help owners of small and medium sized enterprises (SMEs). Its primary purpose is sharing and/or increasing knowledge available to businesses.

ProfitNet works through structured learning, informal networking, communication and knowledge sharing with peers and experts. The netowork helps local entrepreneurs to understand their business in real depth and apply their learning through a practical approach.

In more concrete terms, the aim of ProfitNet is to help local businesses to:

increase profitability and productivity
identify opportunities and current trends
gain practical competitive advantage
develop new products and services
improve skills and motivation
develop management skills, business planning, innovation and team working

Approach

The network is made up of managing directors or others who are responsible for making strategic decisions. Companies join groups of 15 to 20 members. Every member contributes to the group with the opportunity to select topics for discussion, articulate any business issues and receive feedback from the other members.

The participants in the network:

attend monthly group meetings
make decisions for what and how to learn
take part in ‘creativity sessions’
have support from specialists as required
establish strong links with other members
make a commitment to the group
have access to in-house assistance

The programme is managed and delivered by the University of Brighton. The groups are facilitated by university trained facilitators who ensure delivery on agreed needs while maintaining the programme structure. The groups can ask for additional support on specific issues outside of the group meetings. Solutions can be delivered by the University of Brighton or others as needed. Members also receive support from other ProfitNet groups.

Results

The ProfitNet programme was established in Hastings in 2004, with 100 member companies representing sectors including manufacturing, creative industries, start-ups, hoteliers, social enterprise, construction/technical services. The network now has over 300 member organisations.

Evaluation of the programme found that:

88 per cent of the participants got new business ideas
70 per cent of the participants say their management skills have been enhanced
94 per cent of the participants say the programme encourages strategic thinking
96 per cent of the participants are very satisfied and want to continue with the programme

The impact on the companies has been significant, with moral support, changes in processes, gaining knowledge, building common tools and developing joint ventures being cited by members.

Resources used

The total cost of the pilot phase (2004-2005) of the project were 500,795 euros. The European Regional Development Fund (ERDF) financed half the costs of the pilot phase.

EU involvement

The pilot phase of the project was con-financed by the European Union through the ERDF.

Contact info

University of Brighton
ProfitNet, tel. +44 1 273 643 222

Project start date

01/01/2004

Links

For more information, please visit the ProfitNet website

Download a case study on the ProfitNet pilot phase (PDF, Eng, 70 KB)

Document type

case

Themes

Urban Policy > Economy knowledge & employment > Urban economy

Keywords

Business support