SBC Business Magazine June 2024 Issue 14

ITS JUNE ALREADY!!!

Welcome to the latest edition of SBC magazine, As we storm into the Summer months, 2024 is going so fast. Have you created any goals / targets for the coming year and how are these going?

Simply Business Club is always looking to grow and succeed but what does Success look like to you? In this edition we share our thoughts on the different types of success and pose the positive and negative questions around each.

Over the coming months I am sure we will all want to go on holiday, what do you do to make this happen? I remember hearing recently something that really stopped me in my tracks

‘A child spells love T.I.M.E.’

Success is what we want it to be, however don’t forget others on the way to the top otherwise you will get lonely.

Let us know what you want to see in future editions of our magazine, we always include articles that we believe will be useful for business professionals, we also include articles from members of Simply Business Club. 01843 627 001 info@simplybusinessmagazine.co.uk www.simplybusinessmagazine.co.uk

Within this magazine we feature businesses and business professionals from start ups all the way up to global brands, each voice just as important. We really like sharing positive news, updates and advice & tips from around the world, Do you fall within the above, do you have some information or advice to share with our readers?

Would you like us to cover a certain topic or perhaps add a regular section with updates, perhaps from a certain business sector like Human Resources.

Inside this edition we feature our new podcast, Silver Foxes share their mission to support start-ups and Sam Cruickshank shares the power of learning a foreign language. We also include articles about Success, branded clothing, the community, cyber attacks and AI as an opportunity.

Get in touch with us, come to a meeting and interact with us on social media

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The Many Faces of Success: Understanding Diverse Perspectives

Success is a multifaceted concept, shaped by individual beliefs, societal norms, and cultural values. It is a term that encompasses a broad spectrum of achievements, each uniquely significant to the person pursuing it. While traditional definitions often equate success with financial wealth, power, or status, a closer examination reveals a tapestry of interpretations that challenge and enrich our understanding of what it means to be successful. This article explores various versions of success, highlighting the importance of recognising and respecting diverse perspectives.

Personal Fulfillment

For many, success is synonymous with personal fulfillment. This version of success emphasises inner satisfaction, emotional well-being, and the pursuit of passions. Individuals who prioritise personal fulfillment often measure their success by

their ability to engage in activities they love, maintain meaningful relationships, and achieve a sense of balance in their lives. For them, the joy of creating art, the fulfillment of teaching, or the serenity of living in harmony with nature may be the highest forms of success.

Professional Achievement

Professional success is perhaps one of the most commonly recognised forms of success. It involves reaching significant milestones in one’s career, such as securing a prestigious job, earning promotions, or achieving professional recognition.

This version of success often includes tangible rewards such as salary increases, awards, and titles. However, it’s not just about the external accolades; professional success also encompasses personal growth, skill development, and the satisfaction of overcoming challenges within one’s field.

Financial Independence

Financial independence represents a form of success characterized by the ability to support oneself without relying on external financial aid. This version of success is often associated with the accumulation of wealth, smart investment strategies, and financial literacy. For some, financial independence means having the freedom to retire early, travel extensively, or pursue hobbies without financial constraints. It provides a sense of security and freedom that allows individuals to live life on their own terms.

Social Impact

Another important version of success is defined by the positive impact one has on society. Individuals who pursue this path measure their success by their ability to effect change, improve the lives of others, and contribute to the greater good. This could be through activism, philanthropy, volunteering, or careers in social work and public service. Success, in this context, is about leaving a legacy, creating a better world, and making a difference in the lives of others.

Our leader John often says a Rising Tide Lifts

All Boats, if we all help each other

we will all win, his drive in life is to have a lasting impact on the people around him.

Academic and Intellectual Accomplishments

For those who value knowledge and learning, success may be found in academic and intellectual achievements. This can include earning advanced degrees, publishing research, or becoming an expert in a particular field. Intellectual success is not just about formal education; it also encompasses lifelong learning, curiosity, and the pursuit of wisdom. Individuals who prioritise this form of success often find fulfillment in discovering new ideas, solving complex problems, and contributing to the body of human knowledge.

Emotional and Mental Well-being

In an increasingly fast-paced and stressful world, emotional and mental well-being is becoming a critical measure of success. This version of success emphasises mental health, emotional resilience, and the ability to cope with life’s challenges. Practices such as mindfulness, therapy, and selfcare are central to achieving this form of success. It recognises that true success is not possible without inner peace and emotional stability, and it values happiness and contentment over external achievements.

Creative Expression

Finally, success can also be found in creative expression. Artists, writers, musicians, and creators of all kinds often measure their success by their ability to produce work that is authentic, impactful, and resonant. This form of success is not always tied to commercial recognition or financial gain. Instead, it is about the fulfillment that comes from expressing oneself, pushing creative boundaries, and connecting with audiences on an emotional level.

Conclusion

Success is a deeply personal and subjective concept. It is shaped by our values, goals, and experiences, and can look vastly different from one person to another. Understanding and respecting the diverse versions of success allows us to appreciate the unique paths people take in their pursuit of a fulfilling life. Whether through personal fulfillment,

Family and Relationships

For many, success is deeply rooted in the quality of their relationships and family life. This includes nurturing loving partnerships, raising children, and maintaining strong bonds with extended family and friends. Success in this realm is measured by the strength of these relationships, the ability to support and be supported by loved ones, and the joy derived from family life. It is about creating a supportive and loving environment, and ensuring that those closest to you thrive.

professional achievement, financial independence, social impact, intellectual accomplishments, emotional well-being, family and relationships, or creative expression, success is a multifaceted journey that celebrates the richness of human aspiration.

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The Power of Wearing Branded Clothing: Identity, Status & Influence

In today’s world, branded clothing is much more than just a fashion statement. It has become a powerful symbol of identity, status, and influence, impacting how individuals perceive themselves and how they are perceived by others.

Identity and Self-Expression

Branded clothing serves as a tool for self-expression, allowing individuals to communicate their personality, preferences, and values without words. By choosing specific brands, people align themselves with the brand’s ethos and aesthetics. For example, a Patagonia jacket might signal a commitment to environmental sustainability, while a Nike shirt could convey an active, sporty lifestyle. This alignment enhances an individual’s confidence and sense of belonging, reinforcing their personal identity in social settings.

Social Status and Prestige

Branded clothing plays a crucial role in signaling social status and prestige. High-end designer brands like Gucci, Louis Vuitton, and Chanel are associated with wealth, sophistication, and exclusivity. Wearing these brands can elevate an individual’s perceived social status, conveying success and high social standing. This phenomenon, rooted in conspicuous consumption, showcases economic power through recognizable logos and distinctive designs. As a result, wearing such brands can open doors to exclusive social circles and opportunities.

Psychological Impact

The psychological impact of wearing branded clothing is significant. Research shows that clothing can influence mood, behaviour, and performance—a concept known as “enclothed cognition.” Wearing clothing associated with positive traits or high performance can make individuals feel more confident and capable, translating into better performance in various tasks. Branded clothing can also affect how individuals are treated by others, as people tend to ascribe favourable qualities, such as competence and trustworthiness, to those wearing high-status brands.

Cultural Influence and Trends

Branded clothing significantly influences cultural trends and collective identity. Brands like Supreme, Off-White, and Balenciaga shape the fashion industry

and impact music, art, and youth culture. These brands often become synonymous with particular cultural movements, creating a sense of community among wearers. Social media amplifies this cultural power, as influencers and celebrities showcase branded outfits, setting trends and shaping consumer preferences.

Economic Impact

The fashion industry is a significant contributor to the global economy, with branded clothing representing a substantial portion. Brands invest heavily in marketing, innovation, and design to maintain their competitive edge and consumer appeal, driving economic activity from manufacturing and retail to advertising and digital commerce. Branded clothing often commands higher price points, generating substantial revenue and profit margins, which enables brands to sponsor events, support charitable causes, and influence market trends.

Conclusion

The power of wearing branded clothing extends beyond aesthetics. It involves a complex interplay of identity, social status, psychological effects, cultural influence, and economic impact, making it a dominant force in contemporary society. Branded clothing influences not only how we dress but also how we perceive ourselves and others.

Our Mission is to support Start-Ups and SMEs in the UK

In the UK, Small and Medium-sized Enterprises (SMEs) are defined by three main criteria: the number of employees, annual turnover, and balance sheet total. These criteria help to categorize businesses into micro, small, and medium-sized enterprises. This classification is crucial for policy formulation, statistical analysis, and the provision of targeted business support by the government and financial institutions.

The standard definitions used in the UK is aligned with the European Union’s SME definition, are as follows:

Micro Enterprises: These are businesses with fewer than 10 employees and either an annual turnover or a balance sheet total not exceeding €2 million.

Small Enterprises: Businesses that have fewer than 50 employees and either an annual turnover or a balance sheet total not exceeding €10 million.

Medium-sized Enterprises: These are businesses with fewer than 250 employees and either an annual turnover not exceeding €50 million or a balance sheet total not exceeding €43 million. (Source: BEIS)

The significance of SMEs in the UK economy is substantial. There are 5.7 million SMEs in the UK with a workforce of more than 16 million people and a turnover of approximately £1.9 Trillion (Source: BEIS). But this is not

just about numbers, it’s about the vitality of this sector of the economy. During the Covid period when everything else was on its knees, the SME sector reported unprecedented levels of growth. This resilience and capacity for growth, even amidst varying challenges, highlights the dynamic role of SMEs in fostering economic development.

We, at Silver Foxes, have worked with SMEs for over 30 years either as individuals or through the company. In the early days, the main requirement

was help with a business plan and finding finance. As the world moved on, the main requirement started to focus on digital presence, website creation, social media. More recently we are being asked to help with video creation, Google advertising and today dynamic technologies such as AI, Augmented Reality and Virtual Reality.

But there is one constant that has never changed. Most Start-Ups are sole practitioners working in isolation. They are lonely and need a sounding board. Not a business mentor or a business coach but someone to talk to. All the services above are important but they are nowhere near as important as being at the end of the phone, on email or in today’s environment on a virtual chat. Of course, there is no substitute to sitting down with someone and having a face-to-face chat.

In our experience, people start up their own business for one of three reasons. There are entrepreneurs out there who always intended to work in their own business. They do have a business vision and quite often have the basis of a plan in place. There are also people who are forced into working for themselves. They may have been laid off due to downsizing or other reorganisation, but the result is the same. These people are thrown in the deep end, usually without a plan and an urgent need to generate cash. The third group are the people who want a change of career and come to the marketplace, with a vision, some idea of a plan and often with some private funding. Our approach to all three groups is the same – we are

there to support them and help them through acting as a conduit to suppliers, customers, and third party outsourced support organisations. For example, they may need an accountant, a marketing company or even a production facility.

In 1992 the government set up the Business Link network of 40 offices across the UK to support Start-Ups and SMEs with advice, access to finance, and related support. This was phased out by the coalition government (circa 2008 -2012) as an austerity measure. Although it was meant to be replaced by local enterprise partnerships (LEPs), these are totally ineffective. Despite all their bullish words, successive administrations from the 2010 Cameron / Clegg coalition to the government of today, there is little or no support to this sector, despite its importance to the economy. The bulk of the money allocated to this sector is swallowed up in Quango salaries and administration charges. Less than 10% gets to the SMEs at the cliff face, who need it.

At Silver Foxes we have worked with over 300 Start-Ups and SMEs right across the economic landscape from sole proprietors to more established structures. At one end of the spectrum, small businesses such as nail bars, decorators and stand-alone IFAs have benefitted from our support. At the other end of the spectrum, small production companies, importers and exporters and other more formal organisations have used us to set up their

facilities and generate growth. In addition, we run courses and workshops for Start-Ups and people wanting to understand the basics of Digital Marketing, formally through City, University of London, and informally, both online through Zoom based webinars, and through Workshops / Masterclasses at scheduled events.

Our services include general business support and digital marketing support. For more details visit our website https:// silverfoxes.uk or contact us on the details below.

Silver Foxes is a marketing company focusing on supporting business Start-Ups and SMEs.

Our services include both business support and digital marketing.

If you are thinking of starting a business or have just started a business please take time to talk to us.

We would also like to talk to people running Start-Up Business Clubs

Phone: + 44(0) 330 330 8326 WhatsApp Martin: 07570 256726

WHY IT IS IMPORTANT FOR US TO SUPPORT OUR COMMUNITY

Written By John Turner - CEO - Simply Business UK

If the last few year have shown us anything, it must be the fact that our community matters, it is important, and we need to embrace it. Our outlook on life has changed and as a business I need to be aware of this shift.

Many studies have been carried out around this and it has been proven that consumers and other businesses are influenced by whether a company is philanthropic and are more likely to spend and work with these companies.

The most obvious benefit of working with a charity for me is the positive impact that it makes to the cause. Supporting through help can be worth a lot more to them than a small donation, raising awareness of the cause is also invaluable to them.

My personal involvement goes far beyond simply donating money, helping to raise awareness, for example a few weeks ago my family and I walked the 21 bridges walk from Richmond Rugby Club to Tower Bridge (We only did 14 of the bridges as our 5 year old son wanted to walk with us and so we decided 25 miles was a bit far for his first go. I also help the Mizen Foundation through Simply Design UK with their website and branding.

Our community needs our support, if we all supported one or two good causes we would notice the difference they make to our local area.

Simply Business Club supports a number of causes throughout the year, including Movember: We support Stuart Wilson when it comes to November and he becomes a ‘Bro with a Mo’; We also support Community Driving School and when our members are raising money we get involved in any way we can to try and support their efforts through sponsorships and physical

support. Take a minute to think about how many charities have had a direct impact on you and your family, I am sure it will be several. Now think, what if they didn’t exist? Not a nice thought is it?!

And so we need to show our support as often as we can, in whatever way we can, its not always about money although that certainly helps

Written by

Samantha Cruickshank BA MFL (Hon) & PGCE Oxon

Unlocking Business Success: The Power of Learning a Foreign Language

In today’s interconnected global marketplace, the ability to communicate effectively across cultures and languages has become a vital asset for businesses of all sizes. While English remains a widely spoken language in the business world, there are compelling reasons why UK businesses should bother learning a foreign language such as French or German.

Firstly, learning a foreign language opens doors to better understanding and collaboration. Imagine sitting in a crucial meeting with potential international partners where everyone speaks a language unfamiliar to you. Without a fair grasp of their language, you might find yourself at a significant disadvantage, leading to misunderstandings or misinterpretations. However, with even a basic understanding of the language, you can demonstrate respect and interest in their culture, fostering stronger relationships and smoother negotiations.

Moreover, making an effort to speak your client's language can significantly enhance your credibility and rapport. Picture a scenario where a French-speaking client visits your office, and you greet them with a warm “Bonjour”

Their faces light up with surprise and appreciation, instantly creating a positive impression. Even if your language skills are limited, the effort you put in will be remembered and valued, setting you apart from competitors.

Improved language skills will also help to improve understanding of a client’s working culture. Each language has its own cultural nuances and business etiquettes. By delving into the language and customs of your target market, you gain useful insights into their values, priorities, and communication styles. This knowledge empowers you to tailor your approach accordingly, demonstrating sensitivity and adaptability, which are key ingredients for successful business relationships.

Furthermore, learning a foreign language opens up new markets and opportunities for expansion. As businesses increasingly look beyond domestic borders for growth, the ability to communicate in the language of potential markets becomes indispensable. Whether you’re exploring opportunities in French-speaking Canada or German-speaking Europe, speaking the local language gives you a competitive edge and facilitates smoother market entry.

The benefits of learning a foreign language for business are undeniable. From enhancing communication and building trust to gaining cultural insights and expanding markets, language skills can be a game-changer in today’s global business landscape. So why not take the plunge and embark on the rewarding journey of language learning? Your business success might just depend on it!

Simply BUSINESS Club

Unveiling the Benefits of Running Your Own Business

Embarking on the entrepreneurial journey, running your own business, is an exhilarating and empowering endeavor. While it comes with its challenges, the rewards are often profound. In this article, we delve into the numerous benefits that entrepreneurs experience when they take the leap to establish and manage their own business.

Freedom and Autonomy:

One of the most enticing aspects of running your own business is the freedom it affords. Entrepreneurs have the autonomy to make decisions that align with their vision and values. This independence allows for creative expression, strategic planning, and the flexibility to adapt to changing market dynamics.

Would you like to attend business networking that is relaxed and efficient? Simply Business Club is that place, come along to 4 online meetings for FREE, share in the support we offer to everyone who comes along, get to know the other people in the room, remember, a rising tide lifts all boats, if we all help each other we will all win!

Have you ever wondered what are the real, tangible differences between online and in person networking?

Well, you get to talk to people from all over the world; you also save time, you don’t need to travel and so it will take 30 seconds to log on; the third thing it will also save on the cost of travel, when you go somewhere it will, most of the time, cost you fuel or train ticket, it doesn’t cost extra to go to your desk.

Passion Pursuit:

Starting your own business often stems from a deep passion for a particular industry, product, or service. When you’re doing what you love, work becomes more than just a means to an end; it becomes a fulfilling and purpose-driven journey. The ability to turn your passion into a profession is a unique and rewarding aspect of entrepreneurship.

Financial Control:

Entrepreneurs enjoy greater control over their financial destinies. While the initial phases may be financially challenging, the potential for unlimited earning is significant. Successful businesses can lead to financial stability and the ability to invest in personal and professional growth.

Innovation and Creativity:

Flexible Work-Life Balance:

Running a business encourages innovative thinking and creativity. Entrepreneurs constantly seek solutions to challenges, introducing new products or services, and adapting to market trends. The entrepreneurial environment fosters a mindset of continuous improvement and the pursuit of innovative ideas.

Achieving a healthy work-life balance is often a struggle in traditional employment settings. However, running your own business allows you to set your own schedule. While the early days may demand extra effort, the long-term goal is to create a business that works for you, affording the flexibility to prioritize personal and family commitments.

Learning and Personal Growth:

Entrepreneurship is a continuous learning experience. From managing finances to marketing strategies, entrepreneurs wear multiple hats and develop a diverse skill set. The challenges encountered on the entrepreneurial journey contribute to personal growth, resilience, and adaptability.

Impact on Community:

Running a successful business positively contributes to the community. It creates job opportunities, stimulates economic growth, and, in some cases, addresses societal needs through innovative products or services. Entrepreneurs become integral parts of the social fabric, making a lasting impact beyond their immediate business ventures.

Building a Legacy:

For many entrepreneurs, the desire to create a lasting legacy motivates their efforts. Building a successful business that can be passed down through generations or sold as a valuable asset is a fulfilling way to leave a mark on the business landscape.

Conclusion:

Running your own business is a journey that goes beyond the balance sheet. It’s about freedom, passion, financial control, creativity, and personal growth. While challenges are inevitable, the rewards of entrepreneurship are numerous and often extend far beyond individual success. The ability to shape your own destiny, contribute to the community, and leave a lasting legacy makes running your own business an empowering and gratifying pursuit.

Simply Conversational Podcast -

When Simply Business Club first started we wanted to offer our attendees the opportunity to discuss business, talk about themselves, offer advice and provide value to each other.

Well, we are now pleased to be offering our own podcast, an opportunity to interview members of the club and also find really interesting topics to discuss with people that will bring value to the ears of business professionals.

Our Podcast, given the name of ‘Simply Conversational’ launched in March 2024 our founder John Turner, was interviewed about his vision, the goals for the podcast and the club as a whole.

Since then John and Rachael Bryant from Your Video Team have interviewed some of our members, currently being released once per month.

Zoe Bowles - Director of Sales and Marketing

SFM Sales and Leads. Nathaniel shares insights into the dual branches of his business, focusing on lead generation across various platforms and the burgeoning field of renewable energy solutions like solar panels and heat pumps.

In April, John and Rachael interviewed Ian Wade from WBS Copiers and Printers, the dynamic founder of WBS Copiers & Printers. With a track record of over a decade in the business, Ian shares the compelling story of how personal challenges and a commitment to ethical service transformed his life and career, leading to the birth of WBS. As a fervent advocate for networking, Ian explains how 98% of his business success stems from building genuine connections.

Dive deep into the specifics of how WBS delivers exceptional service, particularly to local schools and businesses, through rapid response times and thoughtful customer care. Ian’s innovative approach, including a strategic partnership that spans technicians across Scotland, showcases his dedication to efficiency and customer satisfaction.

We also explore the future of WBS, highlighting recent strategic hires and Ian’s vision for continuous improvement and environmental sustainability. The episode is packed with insightful tips on customer service, the power of networking, and the vital role of honesty and accountability in business.

In May, John and Rachael sat down with Nathaniel Couzens the enterprising founder

Explore Nathaniel’s journey from a scattered beginning in sales to establishing a business that emphasises quality leads over quantity. Learn how his passion for providing financial freedom and flexibility for himself and his family has shaped his business ethos. Nathaniel opens up about the challenges of entrepreneurship, the importance of qualifying leads through innovative digital strategies, and his vision for SFM’s future, including expanding into recruitment and further developing its digital marketing services.

This episode is a blend of personal anecdotes, professional strategies, and forward-thinking goals that will inspire anyone looking to create a legacy through their business ventures.

And in June John and Rachael took a deep dive into the world of search engine optimisation (SEO) when they met up with Stuart Wilson, co-founder and director of Bottle Green Websites. Discover how Stuart and his team help businesses enhance their online presence through expert SEO strategies and website management. Learn about the origins of Bottle Green Websites, the importance of keyword research, and how the Simply Business Club supports business growth and networking. Whether you’re a seasoned entrepreneur or just starting out, this episode is packed with valuable insights and practical advice to elevate your online visibility.

Over the coming months we will be interviewing more of our members alongside some special guests who we believe will bring value to your ears. To listen to our podcast click on one of the links below, currently available on Apple Music, Spotify and YouTube, so choose the platform that works for you.

Disaster Recovery Plans for Cyber-Attacks

UK SMEs should prioritise creating disaster recovery plans for cloud data to ensure business continuity and prevent data loss amid rising cyber-attacks

Cyber crime is a significant issue for businesses of all sizes in the UK. Although we usually hear more about cyber security incidents impacting large businesses, smaller businesses are also a target.

Recent reports have revealed that a staggering 81% of all UK businesses who have fallen prey to cyber attacks belong to the small to mediumsized category, but only 19% have implemented a cyber incident response plan (IRP) as recommended by the National Cyber Security Centre. This alarming statistic underlines the urgent need for SMEs to take proactive measures to secure their digital assets against cyber threats.

Dave Adamson, CTO at Espria, stresses the need for UK SMEs to devise and implement a disaster recovery plan for cloud data.

“It is crucial for businesses to have a clear, well-defined plan of action to respond quickly and effectively to cyber-attacks. Doing so can significantly reduce the impact of such attacks and ensure that business operations are not disrupted.

“When an organisation encounters a complete shutdown, it not only brings the entire workflow to an abrupt halt but also results in losing access to critical systems and essential data.

“This in turn, can cause a significant delay in responding to customers and suppliers, negatively impacting the organisation’s revenue, productivity, and reputation. It is vital to acknowledge that these consequences can be severe and lead to financial and operational setbacks. Therefore, planning for, and then taking immediate and effective action is imperative in such situations.”

Adamson stresses the significance of establishing and executing IT disaster recovery plans to guarantee business resilience and continuity.

“It is extremely important to take measures to mitigate any downtime or data loss in business operations. SMEs should take proactive steps to establish and maintain IT disaster recovery plans to safeguard their operations. Regular testing and maintenance of the disaster recovery plan is essential to ensure it is up-to-date and sufficient.

“Cloud-based disaster recovery offers many advantages to organisations. One of the most significant benefits is its flexibility and scalability, which allows SMEs to tailor their service selection according to their specific needs through cloud migration and back-up services. SMEs can ensure their data is protected and recoverable in the case of an attack, while also being able to adapt to changing business requirements over time.”

According to Adamson, cloud-based solutions have a significant advantage over traditional recovery methods in terms of the financial aspect of disaster recovery. “Traditional methods require substantial investments in physical infrastructure, such as servers, storage devices and secure offsite locations for storing data. The cost of maintenance and periodic replacement of such resources is often a significant financial burden.”

Adamson concluded, “UK SMEs must prioritise cloudbased disaster recovery to ensure resilience. Without a plan, businesses risk losing their competitive edge and weakening their position within their industry. Given the constant threat of cyber and ransomware attacks, businesses must have a robust disaster recovery plan in place to mitigate potential disruption to their operations. By leveraging cloud-based disaster recovery, in the event of a data breach operations can be quickly restored, minimising downtime, enhancing customer trust, and safeguarding reputation.”

AI is a golden opportunity for developers and not a ‘destroyer of jobs’

More investment in AI means that developers will be needed to build and maintain powerful AI infrastructure and products

Earlier this year, the Bank of England (BoE) has offered assurances to workers that AI should not be seen as a ‘destroyer of jobs’ and instead, its potential should be embraced. Much investment has poured into AI-based skills and services, prompting alarm bells to ring for those concerned with human-operated jobs being made redundant at the hands of AI.

The comments from the BoE should provide reassurances to business leaders and their workforce that AI is here to help, rather than a threat. For developers – experienced, juniorlevel or aspiring – now is the time to invest in themselves and take the time to learn about the possibilities AI development can offer them.

Jane Gormley, Director of Employer Engagement at Code Institute comments: “Demand for AI knowledge and skills is on the rise across many sectors. The discourse surrounding AI as a ‘destroyer of jobs’ has rightfully been put to bed by a key institution. Whilst there may be some change, the new opportunities arising from AI will outpace the negatives.

“In the Developer space, engineers will see an uptick in demand for expertise in artificial intelligence. More investment in AI means that developers will be needed to build and maintain powerful AI infrastructure and products – either as part of, or a core responsibility of their daily roles.

“The first step for any aspiring developer is education. Seeking comprehensive and fully accredited education pathways will build the knowledge foundation for a developer to lead a successful career in the emerging AI-dominated landscape. As competition increases, the requirement to stand out in the candidate job market is also growing. Be that for experienced Developers or those looking for a career change – the avenues are out there for professionals to invest in their futures and upskill or reskill themselves towards AI development.

“Right now, there are a growing number of positions in the AI space which need to be filled by qualified developers. For these developers, taking proactive steps to educate themselves with key languages such as Python and Java to name just two, with an accommodating education partner will be the beginning of the journey for many to fulfil this surge in demand in the industry.”

Gormley concludes: “The level of concern around the potential of AI has been ongoing for a number of years now. The comments made by the Bank of England will hopefully spell an end to the large proportion of fear around AI advancement.

“Coders should look at this time as a golden opportunity for their personal growth and career progression. Embracing an AI-driven future is a potentially limitless one for the sector and will undoubtedly trigger a surge in demand for roles and education courses too. Rather than a ‘destroyer of jobs’, we are on the cusp of seeing a tidal wave of knowledge and innovation flood in and advance businesses and public services into a new world powered by automation.”