Representing more than 2.1 million businesses and 33% of employment in England, microbusinesses have seen substantial growth over the last decade. However, their failure rate is high, due to lack of support and high initial costs in the first few years of a business starting.
In 2022, Lyreco launched the Lyreco Goodness Microbusiness Support Programme to provide backing to microbusinesses for a 12 month period.
The programme was designed for microbusinesses (less than 10 employees) which:
Programme participants received a kick-start in the community and marketplace. Their products and services were sold on Lyreco’s online webshop with no listing fees, opening them up to a wider UK and Ireland market. Over the year, they gained exposure to over 900,000 potential customers across eight sectors.
Each microbusiness also had a dedicated product manager to support them over the year, ensuring fluid stock replenishment, and helping raise their profile.
The product managers arranged regular meetings as often as needed. Each microbusiness also had a stand-alone landing page, giving them the opportunity to tell their story in more detail and showcase their products.
Lyreco did not charge fees for the support programme. At the end of the year, they reviewed the products left in stock, and either sent them back or continued selling them until out-of-stock.
The total support that Lyreco provided to the microbusinesses equated to £20,000 per supplier, with an additional £5,000 per year per supplier for Lyreco's time management.
The Lyreco Goodness Microbusiness Support Programme tracks Social Value delivery using the Social Value TOM System™, contributing against the below Measures:
Provision of expert business advice to VCSEs and MSMEs: Product managers gave expert advice to the microbusinesses, equating to an average of 12 hours of advice a month across all project managers.
Innovative measures to promote and support responsible business: Lyreco invested £175,000 into the programme, including webshop plans, external marketing, access to sales team and faster payment terms.