GOING FOR GROWTH
How the business sector in Bath and its surrounds is working to achieve success
As business moves into the new financial year , having coped with 24 months of challenges presented by the pandemic and its repercussions , what does growth mean in the year ahead ?
According to business support organisations , the picture is mixed . The Confederation of British Industry ( CBI ) downgraded its forecast for economic growth in December to 5.1 per cent in 2022 ( from 6.1 per cent ) citing inflation , supply chain issues and rising living costs . However , the prediction still puts the UK ahead of the rest of the G7 economies .
BusinessWest ’ s Managing Director , Phil Smith , has called on the Government to sort out our relationship with the EU . He also feels one area of optimism for this region is the promise of the green economy , including the possibility of a large electric car plant coming to Somerset which would have a ripple effect across the region .
One of the most detailed predictions has come from the UK PowerHouse report which has produced data analysis from Q4 in 2021 and used that to predict what Q4 in 2022 could look like . The report suggests that while overall 2021 was about recovery , 2022 is more optimistic , despite ‘ disruptive factors ’ having an influence .
The disruptive factors anticipated will come as no surprise . The biggest one is staff shortages , much of which comes down to people making different life decisions around their careers , work / life balance and what they want from a job role .
Other disruptive factors include supply chain issues ( the global semi-conductor chip shortage is expected to continue into 2023 ), a worrying economic outlook , Brexit and the rise of innovators leaving other businesses behind to stagnate .
In terms of innovators , it is the South West which has the highest percentage of businesses classed in this way ( 41 per cent or almost 10,000 ).
The key , the report says , is to be innovative by embracing technology , upskilling employees and learning from others .
LOCAL ORGANISATIONS SEIZING NEW OPPORTUNITIES
RE . STORE BATH
One local firm focused on sustainable growth is RE . STORE BATH . The online business which launched in spring 2021 supplies a range of refillable , eco-friendly household and personal care products manufactured in the UK , which reduce packaging waste , are designed to work well and are vegan friendly .
How it works Shoppers select their choice of products and bottles online , RE . STORE deliver them within a five mile radius of Bath , the products are enjoyed , and when it ’ s time for a refill you place an order , leave your empty bottles on the doorstep ( just like a milk round ) and RE . STORE collect and exchange from your doorstep .
RE . STORE BATH , Founder , Fiona Crisp shares her business journey so far and plans for growth this year . We started deliberately small and with a limited product range to be sure that the products and system delivered , and that our proposition of great products alongside convenience was right . Once we had proved the efficacy of the products and efficiency of our delivery system , people committed to the business . New customers were ( and still are ) driven largely by word of mouth and referrals and we have a great loyal , local , customer base and following on social media .
Our experience showed that people want to do ‘ the right thing ’ but they don ’ t necessarily know where to look or what to buy , so they default to trusted brands in the supermarket . However , there is a huge amount of greenwashing at this level and brands consumers perceive to
8 www . tbebathandsomerset . co . uk be eco-friendly aren ’ t necessarily entirely transparent .
Our entire product range has been researched and consciously chosen so that people in Bath can shop for themselves knowing the guesswork has been done for them and they ’ re reducing their plastic waste , avoiding harsh chemicals and are being more sustainable , without compromising on the efficacy they desire .
Building on our positive initial customer feedback , we have extended and diversified our plastic-free offering into non-liquid products including household goods such as toothbrushes , soap bars , cotton buds and dish brushes . This has further grown our customer base as people can fulfil more of their household needs in one place .
What has surprised us , has been the adoption from non-residential customer sales such as cafes , florists , restaurants and now the Bath Airbnb / holiday home market which is delivering incremental growth . We love to support other independent and local ethical businesses and are delighted to be helping hospitality businesses lower their waste and share this with their customers and guests . Owners and managers are keen to reject single-use plastic and highly chemical products in their pursuit of more sustainable stays and local suppliers . It ’ s a positive message for both their business and customers and also helps us educate a wider audience to go back home and maybe try to reuse and refill more .
In terms of future growth , we see much needed behavioural change and acceptance . We are a direct-to-consumer business that was born in a pandemic tailwind which has seen the increased adoption of purchasing online by a larger audience and wider demographics . We are pleased to see refilling in retail establishments nationally and independently , though our ‘ milk round ’ style delivery and collection method has been thoroughly well received . People are enjoying the convenience it brings to their already busy lives . We deliver to the doorstep before 7am and remove any empties for refilling . It couldn ’ t be simpler for our customers to make a more sustainable change to their purchasing habits . We ’ re judgement-free and our ambition is to make sustainable , ethical products accessible and refilling easy , so everyone can be part of the solution .
Longer term , we will be expanding to include plastic-free period supplies and pet items . We ’ ve also been approached to take RE . STORE BATH to other cities , so we may have to think about a re-brand !
For more info : www . restorebath . com