Pathway to Growth – New Revenue Models for SMEs

Over the next three years, 65% of the worldwide manufacturing industry will switch from a focus on products and production and build their revenue streams through services. This extends to manufacturers big and small, products both simple and complex.

This free event will involve talks from SMEs and industry leaders who have introduced advanced services into their businesses, and will involve workshops to help you develop your own ideas for a service offering.

Key speakers and content includes:

Danny Harrison, Nicklin Transit Packaging - Nicklin is a local, 4th generation, family run packaging company which has been trading over 100 years. Danny Harrison will give an overview of some of the changes they’ve introduced as a business, and how services can be relevant to those in very price-driven or commoditized markets.
Andrew Harrison, Rolls-Royce - How did Rolls Royce transform their business through ‘Power by the Hour’, and what lessons can small and medium sized businesses learn from this? An overview of how they introduced new service-based revenue models and now consistently generate over 50% of annual revenue from services.
Chris Gibson, Mechatronic Solutions Ltd - Mechatronic Solutions is a local business delivering world-class automation solutions – in this session they provide an overview of how they are changing their business model through services.

There will also be plenty of time for informal networking and engaging with other SMEs to share ideas on some of the challenges and barriers you are facing.

For those interested in exploring advanced services further, those attending the event can also access a support programme. Your company can receive up to 75 hours’ one-to-one support and peer learning with other like-minded businesses to help you implement some of the changes identified in the event.

You can view the full agenda for the workshop by following this link

Benefits of Advanced Services:

• It can lead to an increase in revenues of between 5-10% per annum
• It helps smooth your cash flow profile
• It supports longer term contracts
• It improves customer intimacy
• It can help to reduce costs by 25-30%
• It offers resilience and growth in challenging times.

For more information go to our website here

Eligibility:

This programme is part funded by the European and Regional Development Fund (ERDF).
Your company is eligible if it is:

• A manufacturing SME or technology innovator

• Located in the Greater Birmingham and Solihull LEP Region

• Has a turnover of less than €50m (£43.2m) or a balance sheet lower than €43m (£37.1m)

• Not in receipt of more than €200,000 or £172,784 of State Aid (exchange rate 28/03/2017)

For more information contact Jill Forrest, on j.forrest1@aston.ac.uk or telephone: 0121 204 3249

Parking information: Millenium Point Car Park see link here