IN the summer of 2016, the Northamptonshire Growth Hub launched its European funded Ready2Grow project.
Ready2Grow’s purpose is to help Northamptonshire based start-up and established businesses achieve their full potential by providing professional, unbiased one-to-one advice, in addition to business workshops designed to enhance their skills. Where appropriate eligible businesses could also apply for grant funding.
After Ready2Grow was under way, it was time to introduce a complementary project. In October 2016 the Innovate Northamptonshire project was launched, with an aim to encourage Northamptonshire-based SMEs to engage in innovation within their business, from streamlining internal processes to introducing something new to the market which would give them a competitive edge. Much like Ready2Grow, businesses on the project benefitted from professional one-to-one advice, skill enhancing workshops and the opportunity to apply for grant funding.
After almost three years of successful delivery both of these projects will be ending in early 2019. Participation in R2G and IN has exceeded the Growth Hub’s original expectations. Many small to medium-sized businesses across Northamptonshire have realised a benefit from their involvement, as the projects have not only helped entrepreneurs reach their business goals but have also aided in creating more jobs and future opportunities within the county. Combined, the two projects have received over 1653 enquiries. The latest impact of the two projects is shown below.
Ready2Grow: Data from October 2018 shows that Ready2Grow has a 96 per cent customer satisfaction rating and has supported almost 300 new start-up businesses since its launch. The current total grant value that has been awarded to local SMEs is £605,000.
Innovate Northamptonshire: Within the same period, Innovate Northamptonshire has a 94 per cent customer satisfaction rating. More than 100 businesses have received three or more hours of non-financial support. The current total value of grants that have been awarded to local SMEs is £503,000.
With a further four months to run, the positive impact of the Ready2Grow and Innovate Northamptonshire projects have yet to be fully realised. However, despite the forthcoming closure of these projects, the Growth Hub still has other initiatives available to benefit local SMEs.
To find out more, head over to the website www.northamptonshiregrowthhub.co.uk or call 01604 212696.