People
Pushing the SME agenda
Lucy Prior MBE has been appointed the Chair of the Railway Industry Association’s SME Group
T
here are more than 4.6 million small and medium sized enterprises (SMEs) in the UK economy accounting for 60 per cent of UK employment and approximately 50 per cent of turnover in the private sector, according to the Department for Business, Energy and Industrial Strategy (BEIS). They have a vital role to play in keeping the country moving, particularly when it comes to the rail sector – working across a range of disciplines providing rail expertise alongside other sectoral specialisms. That is why Lucy Prior MBE doesn’t take lightly stepping up into the role of Chair of the Railway Industry Association’s (RIA) SME group. In the role she will drive forward the SME agenda, supporting rail supply chain growth, productivity and innovation. “I count myself very fortunate to be in this role; it’s not every day you get the chance to represent such a diverse and important group of companies from across the country and liaise with the industry’s leaders at such close quarters,” she said. “This is not something I take lightly, and I intend to use this for the good of the wider rail supply chain across rail. My utter priority is communication. I am passionate about enabling individuals and companies to talk to one another constructively, whether that is as a conduit, or to create direct conversation.”
This gave us solid material to work on for John to take to the RIA Board
Railway growth RIA is the voice of the UK rail supply community. It aims to help grow a sustainable, high-performing railway supply industry, and to export UK rail expertise and products.
It has more than 300 companies in membership in a sector that contributes £43 billion in economic growth and £14 billion in tax revenue each year, as well as employing 710,000 people.
Lucy said: “Over 60 per cent of RIA’s members are SMEs, so we represent a massive business community that must be nurtured. SMEs provide an agility and capability that you simply cannot get in an unwieldy multi-national, or large enterprise. “If SMEs are stifled – whether through a lack of communication and surety of pipeline, or worse still, through terms and conditions that pass down too much risk or unfair payment schedules – then the whole sector suffers, pricing becomes protective and the efficiencies that we all want become harder and harder to achieve.
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20 | November 2021
railbusinessdaily.com