Member Article

C&W business support organisation engaging with more companies than other Growth Hubs

A business support organisation is engaging with nearly three times more companies across Coventry and Warwickshire than other Growth Hubs throughout England.

The UK has a national network of 38 Growth Hubs which were set-up by the Government via the former Department for Business, Energy and Industrial Strategy to support and improve businesses of any size or sector by accessing free, impartial advice.

The original target set by the Government was for Growth Hubs to engage with 2.5 per cent of England’s businesses.

Annual performance data and firm level data has shown that nationally Growth Hubs have engaged with eight per cent of all businesses in England.

And these same statistics reveal that the Coventry and Warwickshire Local Enterprise Partnership (CWLEP) Growth Hub has an average of 22 per cent engagement – almost triple the average of other Growth Hubs.

Craig Humphrey, the Managing Director of the CWLEP Growth Hub which was established in 2014, said the evaluation of its outputs was a fantastic reflection on its 20 staff and its collaborative approach.

“There is little doubt that setting up Growth Hubs to provide a single point of contact for business support in every area of England has been a major success,” he said.

“In terms of the original target set by Government to monitor how Growth Hubs are performing to be nearly three times above their objectives underlines the great work of our staff and the collaboration with partners.

“We work closely with Coventry City Council, Warwickshire Country Council and the area’s district and borough councils to provide businesses in all sectors with the support, advice, guidance, and funding opportunities that they need.

“When the CWLEP Growth Hub was established, we were targeted to reach out to businesses that had previously not engaged with business support – and that has been one of our key successes because we are in regular dialogue with companies who are now receiving the help they need. “Small and medium sized businesses are the bedrock of Coventry and Warwickshire’s economy and by providing assistance with grants to refurbish new premises or buy new machinery to help businesses expand this, in turn, can lead to increased productivity and more staff being recruited which boosts our local economy. “I think it is testimony to the work of our team that we have outperformed the national average performance of Growth Hubs.

“I have been relentless in my pursuit of being the best that we can possibly be and the sub-region should be justifiably proud of the Growth Hub that it has.” Cllr Jim O’Boyle, Cabinet Member for Jobs, Regeneration and Climate Change at Coventry City Council, said: “Good, accessible and timely business advice is vital for small and medium sized businesses. Coventry and the wider area is full of ambitious companies in all sectors who often just need a bit of support to enable them to create and safeguard jobs.

“And of course, that’s what this important business advice and support is all about – securing jobs for local people.”

Warwickshire County Council’s Portfolio Holder for Economy, Cllr Martin Watson said: “These findings are further evidence that businesses in this region have an incredible network of support to encourage their growth.

“The County Council funds a range of business support services and programmes including over £100 million of debt finance, small business loans and grants and we are pleased to work with the Growth Hub to promote this and other support to Warwickshire businesses.

“I would encourage any business interested in finding out more about the support available to them to contact the Growth Hub, and Craig and his team will be able to introduce you to the wide range of specialist public and private sector support organisations relevant to your needs.”

The Growth Hub is supported by funders including Coventry City Council, Warwickshire County Council and Warwickshire’s District and Borough Councils.

This was posted in Bdaily's Members' News section by Matt Joyce .