Part three of our action plan for the British beauty business covers the pillar for innovation – a hugely significant lifeblood area of our industry which deserves far better support, celebration and respect.
INNOVATION
The purpose of this pillar is to promote the British beauty industry’s public-facing image as a world leader in creativity, business and innovation. This will include providing business expertise, advice and support to budding entrepreneurs with digital. How we will do this:
- By creating talent support pathway aims to engage students, support emerging businesses and both celebrate and champion our global brands.
- By developing an online portal to create open access to business support information and seminars.
- By growing our social media platforms to further engage audiences in new and innovative ways.
- By creating a curated community of professionals and service experts to offer advice across key functional areas including accounting, law, merchandising, manufacturing, e-comm and finance.
- By creating a mentorship programme to feature established industry entrepreneurs and success stories to deliver practical, bespoke, hands-on support to new entrepreneurs to help them implement processes and values while bootstrapping their businesses.
- By informing educators, such as heads of courses and tutors about real-time industry developments and challenges, in order to arm them with the knowledge to better prepare their students and graduates for life post-graduation.
- By attracting more investors into the sector, establishing early stage investment vehicles, underpinned by philanthropy and to prepare beauty businesses to be investor ready.
