Member Article

Business growth scheme captures funding to continue in 2017

Captured, the business growth scheme run by Newcastle University Business School, has secured funding to extend it into 2017.

Launched earlier this year as one of 32 projects in the UK Futures Programme, Captured aims to help small firms develop the personal and business skills needed for business growth.

Tthe scheme has so far assisted more than 40 small firms and received the backing of some of the region’s largest companies including tech specialist Sage, engineering firm Siemens and pharma giant GlaxoSmithKline.

Initially piloted in Tyneside, phase one of Captured came to an end in July but is now recruiting for new participants from this month (November) after it secured additional funding from the Business School and the North East Local Enterprise Partnership (North East LEP).

In the next phase of the programme, the aim is to help a further 48 small firms develop and grow their business with support from experienced professionals from larger organisations.

Dr Fiona Whitehurst, Captured project lead at Newcastle University Business School, said: “In the initial pilot phase, it was clear that both small firms and the larger regional organisations saw benefits from the Captured approach.

“As a result, we’re delighted to be able to extend the programme to other micro and small businesses who are keen to explore ways of developing their business.

“Eighteen larger regional organisations participated in phase one and we are keen to recruit more.”

Colin Bell, director of business growth at the North East LEP, said: “We’re thrilled to be supporting an initiative that clearly has had a positive impact on the North East business community.

“This type of scheme is essential if we want to grow our economy and enable the region’s army of small firms to prosper.”

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