Three Lessons from Thriving Entrepreneurs

While headlines focus on economic headwinds, thousands of small businesses across Britain are quietly defying the trend. They’re growing faster, hiring more people, and achieving higher productivity than their peers. Goldman Sachs has had a front-row seat to more than 2,500 of these success stories, as we enter the sixteenth year of our 10,000 Small Businesses (10KSB) UK programme. In our latest Impact Report, published in December, the Enterprise Research Centre at Aston University examined the trajectories of the 2,509 high-growth businesses that have graduated from 10KSB UK and compared them to businesses of a similar size and growth profile.  The findings are striking. Within three years of completing 10KSB UK, our alumni outperform their peers by increasing their revenues by 43% and number of people employed by 35% on average, as well as achieving  approximately 14% higher productivity. If this effect was replicated for all 153,000 comparable businesses across the UK, then we could see almost one million new jobs created and over £100bn in estimated additional revenue. We’ve learned that this success rests on three pillars: combining rigorous business education with tailored, one-to-one support; building networks that can create lasting commercial value; and creating the space for strategic thinking.  These lessons offer a roadmap not just for 10KSB UK alumni, but for any business owner seeking to accelerate their own growth in 2026 and beyond.

Pair learning with real-world guidance
The 10KSB UK programme centres on globally renowned  business education delivered by Oxford University’s Saïd Business School – it is essentially a mini-MBA-style programme delivered over three months and refined over 15 years designed to equip small business owners with the frameworks to understand markets, manage finances, and develop a strategy for growth. But what transforms this education into results is pairing it with individualised support. Each participant works with a dedicated “Growth Expert” – experienced business practitioners who help apply classroom frameworks to real challenges. While a module might cover market entry strategy, a Growth Expert helps you navigate entering your specific market with your particular constraints.

John McArthur, whose company McArthur BDC designs grain storage systems for cereal farmers and distillers, credits this combination with transforming his business. “Without the financial organisation I learnt, we’d have been flailing during Covid,” he says. “The access to finance information and grant application advice meant we were well-structured and stayed financially robust.” The programme also gave him confidence to pursue acquisitions, buying both a supplier and a customer, with one of his advisors from the programme still sitting on his board.  For any entrepreneur, it’s a demonstration that structured learning matters, but so does having someone who can help you translate general principles into specific actions. Seek out mentors or advisors who know your industry and can provide practical guidance on applying what you’re learning to the particular challenges your business faces.

Build networks to open new doors
10KSB UK graduates consistently report that relationships formed during the programme prove as valuable as the education. Businesses from their cohort become customers, suppliers, and collaborators. They recommend each other’s services and sometimes launch ventures together. Paris Blackwell, who runs Pario Holiday Parks in North Wales, exemplifies the lasting power of these connections. “Eight years after our time on the 10KSB UK programme, our cohort are still in regular communication. We ask questions and share stresses that other entrepreneurs can relate to.” 

These aren’t just professional contacts – they’re personal relationships built on shared entrepreneurial experience. And increasingly, they extend internationally. Connections with our US and French programmes have opened export markets and cross-border relationships for UK alumni, creating opportunities they wouldn’t have discovered in isolation. There is so much value in connecting with people who understand your challenges and can become collaborators or guides into new markets. For 2026, business owners should actively prioritise investing in these peer relationships – whether through business education, attending industry groups, or working with others to create peer advisory circles.

Make time to work on your business rather than in it
The 10KSB UK programme also creates dedicated time for business owners to step back and think strategically. When you’re immersed in daily operations it can be difficult to maintain the broader perspective needed to spot bottlenecks, identify growth opportunities, or develop coherent plans.

Naynesh Karia discovered this when he joined the programme in 2016. His family food business, Food Attraction, had £2.5m  in annual sales and 25 staff, but was hitting a ceiling. “The opportunity came just at the right time. It gave me the mental capacity to be pragmatic and realise we needed to start hiring to grow.” Stepping back allowed him to see that he couldn’t be an expert in everything. He recruited key managers and formed a board of senior management, freeing himself and his brother to focus on marketing and product development. Today the business employs 130 people with £15m in revenues. Creating this space deliberately is something all entrepreneurs should seek to do. Block out time regularly – monthly or quarterly – to work on your business rather than in it. Use it to assess what’s working, identify constraints, and explore opportunities you’ve been too busy to consider.

Three things you can control
The year ahead will bring challenges no business owner can predict or control. But amid the unpredictability, there are concrete actions you can take right now. Invest in structured learning and find advisors who can help you apply it. Build new relationships with fellow entrepreneurs who understand your challenges. And carve out time to step back and think strategically about where your business is heading. These three priorities won’t insulate you from every headwind, but the evidence from 2,500 growing businesses shows they can put you in a stronger position to navigate whatever 2026 brings. The businesses most likely to thrive this year will be the ones that start now.