Last month, I shared on LinkedIn that I’d attended a reception at the House of Lords, and several people asked for more details.
It was a fascinating experience, so I’m happy to share what I learned — and why it matters to you as a business owner.
The reception was hosted by the Heritage Railway Association, where I serve as a director, together with the cross-party All-Party Parliamentary Group (APPG) on heritage railways. Our aim was to engage MPs and members of the House of Lords who represent constituencies with heritage railways—important local employers and tourist attractions—so they could better understand our concerns and represent them.
The setting was everything you might imagine: a magnificent room overlooking the Thames, with organisers in formal regalia and tea served in House of Lords-branded cups. It was quintessentially British and steeped in tradition!
Around 100 people attended, including a dozen MPs, three Lords, two Baronesses, and the Rail Minister, several of whom spoke.
And we weren’t just making polite conversation; our discussions led to tangible outcomes. For instance, I was asked to provide statistics on heritage railways to be included in speeches about tourism and the budget — directly helping raise awareness of our sector’s challenges and opportunities.
This experience underscored an important point: cultivating relationships with your political representatives can be very beneficial.
Do you ever connect with your MP or local councillors? If not, it’s worth considering. Just as I’ve encouraged building relationships with your bank manager, engaging with political representatives is another way to future-proof your business.
Your MP and councillors are there to represent your interests — not just as an individual, but as a business and employer. Your views on taxes, regulations, green initiatives, and other issues will be of interest to them and can influence their decisions.
They can sometimes also address specific local problems. For example, we’ve had several issues with the road leading to our office park. Thanks to our relationship with our local councillor, we were able to resolve it efficiently.
That’s how we got to know them, their colleagues, and our local MP, Kemi Badenoch.
Unusually, there isn’t a financial angle to this email. But it does feed into a related theme: the importance of running your business in a professional, grown-up, and proactive way, especially as it grows beyond £1 million turnover.
Successful business owners don’t just focus on day-to-day challenges. They keep an eye on external factors that might influence their trajectory and plan for growth.
Building political relationships is just one more way to manage your business strategically and ensure long-term success.
At Insight Associates, we help businesses like yours establish strong financial foundations while keeping the bigger picture in view. From fostering relationships with key stakeholders like your bank manager or MP to navigating the evolving financial, political and regulatory landscape, we ensure every aspect of your business is geared for growth.
If you’d like to find out how we can help your business thrive, just email garry@insightassociates.co.uk or call us on 01279 647 447 — we’d be delighted to discuss your needs.
Warmly,
Garry
