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Developing the Business Growth Hub

Cath WalshBusiness Growth Relationship Manager

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Key Drivers?• Business growth is key to job creation & GVA

– High growth firms account for 50% of all new jobs– Gov policy

• Demand from businesses with growth aspirations

• Ensure quality business support projects and programmes continued post NWDA– Heavily involved with the transition of business support from NWDA to LEPs

• Endorsed by Regional Leaders Board (North West LEPs)

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Development informed by:• Working with growth firms through:

– The Economic Solutions group – The GM Chamber of Commerce– Recruiting to the new 10,000 small businesses programme

launched in the NW in Feb 2011– Recruiting the LEAD programme– Delivery of other growth related programmes including UKTI,

Investors in People, Consultancy, Mentoring programme, NW Business Angels

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Governance & Funding• Economic Solutions – not for profit• Private sector sponsorship (banks, legal)

– Deliberately target a broad church of sponsors• RBS sponsorship = secondment of staff• Not just about money but access to private sector business support

services, provides endorsement & credibility• Access to targeted client base

• Public funding streams: LAs (The Combined Authority) BIS, ERDF, RGF etc• Growth Hub Board = sub board of the LEP

– Private and public CEOs

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How will it work?

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BusinessGrowth Hub

Private Sector led …..

Target Businesses

Public/ private

referral partners

Business Growth Products & Services

Range of suppliers

local & national

Network groupsHub Events

Website & dedicated hub

team

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Critical Success Factors• Creating communities – sense of belonging to a club:

– Of like-minded business leaders – GROWTH GROUPS– Of referral partners and suppliers – REFERRAL & SUPPLIER NETWORKS

• Not for all businesses – highly targeted – Ambition and drive to growth– Have potential - 10-15% growth / ann– Already growing by at least 20% / ann

• Open supply chain – get best solutions to clients– Specialist targeted support – Strong referral network in place– Private sector endorsement– Right mix of services

• Highly visible and highly integrated with the local support structure

• Aligned with gov. policy but with private backing and local flavour

• Creating a win win for partners - referrals and shared revenue

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What next?• Launch – 17th November

– Completion of full website– Register interest on holding website for more

information– www.businessgrowthhub.com

• Continuous review products and services• Continue to expand referral networks

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