What is Growth Hub Week and why does it matter?
Growth Hub Week is a government campaign, running from May 16 to 20, celebrating the country’s network of 39 growth hubs and their work in nurturing local business.
What is a Growth Hub?
Hubs work across the country with local and national, public and private sector partners - such as Chambers of Commerce, FSB, universities, Enterprise Zones and banks, co-ordinating local business support and connecting businesses to the right help for their needs.
They are locally driven, locally owned and at the heart of the government’s plan to ensure business support is simpler, more joined up and easier to access.
39 hubs giving 4.7 million businesses across England ready access to the support they need to start up, scale up and create more jobs are now launched.
Business Minister Anna Soubry said: “Small businesses are the beating heart of our economy and this government continues to build the right environment for them to thrive.
“We will keep cutting red tape and business taxes, improving access to finance and broadband, and taking forward the measures in the Enterprise Act to cement our position as the best place in Europe to do business.”
Funding of up to £24m is being made available over the next 2 years for LEPs to continue to develop their growth hubs and provide local business support.
Anna added: “Growth hubs have already helped thousands of businesses and, with the full network up and running, every registered business in England can access the expertise they need to succeed. They will help entrepreneurs boost their business and create more jobs for people in the local area.”
What is Growth Hub Week?
The government wishes to increase awareness of the hubs this week and promote the support available to entrepreneurs and smaller businesses.
The week will celebrate the completion of the growth hub network, which sees a live hub in each of the 39 Local Enterprise Partnership (LEP) areas, covering 100% of the business population in England. Growth Hub Week will raise the profile of growth hubs and the work they do to help local businesses start, grow and prosper.
Irene Graham, Chief Executive Officer of ScaleUp Institute said: “It has never been a better time for the public and private sectors to work together to support the growth needs of our fastest scaling businesses. The news that growth hubs now have a presence across the country is highly welcome.”
The North East Growth Hub
The North East Growth Hub is delivered by the North East LEP. Covering County Durham, Gateshead, Newcastle, North Tyneside, Northumberland, South Tyneside and Sunderland, its role is to drive economic growth in North East England by supporting businesses and creating more and better jobs for everyone - with one such resource being the Growth Hub.
More information about the North East Growth Hub, including how to join the network, is available at www.northeastgrowthhub.co.uk.
Events during the week can be followed on Twitter via the hashtag #GrowthHubs.
The UK is set to leave the EU on 31 October 2019. Are you preparing for Brexit? Complete the North East Growth Hub and Tees Valley Business Compass’ 3-minute survey →