THE challenges facing small and developing businesses are unprecedented – but with the right support, they are rising to the challenge.
Royal Bank of Scotland regional entrepreneurship director Lynsey Cunningham says despite the difficulties caused by the coronavirus pandemic, entrepreneurial spirit in Scotland remains strong.
“One of our partnerships is with business funding competition Scottish Edge, which focuses on high-growth entrepreneurial talent, and we were absolutely delighted to see a record number of applications this year,” explains Cunningham.“That is a real green shoot for me.”
Royal Bank has had to “tweak” its own business support programmes in the light of the pandemic, introducing more digital platforms and initiatives such as “drop-in” open network calls providing valuable peer-to-peer support, and the An Audience With … series of Zoom webinars which included Sir Tom Hunter.
“That was fantastic, to be able to bring around 1,000 people together online to hear Sir Tom Hunter talk about his experience, live from his living room,” adds Cunningham, smiling.
“We followed that up with retail magnate and TV Dragon Theo Paphitis, and to have speakers of that calibre is a real coup.”
The bank has also launched Business Builder, an online platform Cunningham describes as a “gateway to support”.
She adds: “Whether you are a startup or an early-stage business looking to pivot, whether you want to add new customers or explore funding options available to you, this can provide a range of services to help.
“It includes learning modules, which take you through the essential building blocks involved in moving your business forward, wraparound events and market insights, and also access to a collaborative online community.”
This peer-to-peer support complements Royal Bank of Scotland’s Accelerator programme, which provides entrepreneurs with a range of services including digital coaching, free office space, access to business mentors, and bespoke events over a six-month period.
“Coaching is extremely important at the moment, with an increased focus on wellbeing,” explains Cunningham. “For many entrepreneurs used to working in a hub with other people, their office is now their home and that can bring its own challenges.
“But throughout the pandemic, it is my experience, certainly, that entrepreneurs have shown great resilience and determination to make the most of diversification opportunities.”
There are many examples, says Cunningham, of entrepreneurs who have successfully risen to the challenge.
“Tammy Koslowski of Naf! Stuff had to close her salons immediately when lockdown began, but she instantly turned her attention to relaunching a cuticle oil, making a hand sanitiser and building her team,” she adds.
“Edinburgh-based events company 21CC, which was involved in the Dundee V&A Hello World launch, was impacted by the pandemic.
“They have come up with an incredible ‘fireworks drive-in’ display in Perthshire – three shows on one evening, each one choreographed to a soundtrack which will be relayed through your own car radio.”
Cunningham adds: “While, of course, there are still challenges ahead, it is incredibly encouraging to see so many businesses adapting and embracing change.”
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CASE STUDY: ThermaFY
AMANDA Pickford’s business “changed overnight” when the coronavirus pandemic began. The CEO of thermal imaging firm ThermaFY was quick to respond, however.
“We were always planning to move into the area of digital health, but Covid-19 accelerated that,” she explains. “Suddenly, thermal cameras were everywhere, and I realised there was an opportunity there. Our solution has been
designed with both the pandemic and the longer term in mind.”
The Kelso-based company, which has been working on thermal analysis in the animal and heating sectors for the last four years, has developed ThermaFY
Protect, a touch-free hand sanitiser thermal scanning station which can be used in offices, hospitals and other care settings.
Thermal scanning can identify a high temperature, one of the symptoms of
Covid-19. It is currently being piloted by Chelsea and Westminster NHS Trust and interest is growing across the country.
“The hospitals have been using hand-held scanners, which can be used on patients,” says Pickford. “Our device can be used to thermally scan staff and visitors, reducing the risk of catching Covid-19, and providing the Trust with the opportunity to collate a reliable data stream and demonstrate best practice. It is also linked to Track and Trace systems.”
ThermaFY is part of the Royal Bank of Scotland Accelerator programme, which provides support to help businesses grow and succeed. “It has been extremely helpful in recent months,” explains Pickford. “During the pandemic, the team has set up open network calls, which you can drop in to, and those have been really useful.
“I knew it would be a huge challenge to do this on my own but Royal Bank of Scotland has really helped.”
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CASE STUDY: Waire Health
A COMPANY set up to deliver simple to use, wearable technology which tracks patients’ vital signs in hospitals, care settings and at home, has created a revolutionary Covid-19 monitoring device.
Waire Health (formerly Sentinel), founded by Dave Hurhangee and Kathrina Skinner, has developed C-Detect, a sensor worn on the upper arm to monitor heart rate, respiration rate, core body temperature and blood oxygen saturation.
The company secured more than £1 million in funding from Innovate UK, EIT Digital and Scottish Enterprise to create the original device but plans to bring it to market paused when the pandemic hit.
Commercial director Doug Kinloch explains: “Waire Health won the
Nightingale procurement programme to work with six EU hospitals to develop the prototype and to run multiple phase clinical trials. The device, which does not need to be ‘plugged in’ or connected to the internet to operate, can be shipped directly to patients for immediate use.
“When the coronavirus outbreak began, the founders realised the technology could very quickly be adapted to monitor possible infection in a range of settings – hospitals and care homes, for example; the food processing industry and where large groups of people have to work together; giving airline passengers confidence to fly again; and local authorities, including schools.”
He added: “Support from the Royal Bank of Scotland Accelerator programme has been invaluable during these unusual times for business.” Interest in the device is growing, with distributors arranged across the UK, Europe and the USA. The company has grown to a team of 14 full-time employees, and every stage of the design has been developed in Scotland.
“It is not a diagnostic device – C-Detect will not tell you that you have coronavirus, but it will tell you that you should be tested,” says Kinloch. “It also includes support for the new EU-wide contract tracing token and a proximity sensor to warn of breaking the two-metre social distancing rules. We believe C-Detect can make a positive contribution.”
- This article was brought to you as part of The Herald's Entrepreneur campaign with our partner Royal Bank of Scotland
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