A LOT of new businesses start very small, often working from home. Then, when they outgrow the home office and need more space they are faced with a move to larger offices with the all the cost that that involves. As a result they delay the move until they can absorb the extra costs but if they moved sooner their business could grow more quickly. That growth will be encouraged by the creation of specially supported incubation units.

As part of the South East Midlands Start-up (SEMSUP) project, the Northamptonshire Growth Hub is providing dedicated incubation space in Northamptonshire for new start-up businesses and social enterprises as well as individuals in the pre-start phase of development. This project will be supported at two locations in Northampton (Innovation Centre, availability to be announced) and Daventry (iCon, from January 2018). Each location will offer hot desks and provide users with easy access to free broadband, flexible use of meeting rooms and direct support from on-site, experienced growth hub advisers. The one-to-one mentoring and business coaching will normally be delivered at weekly clinics held in each location but access to Growth Hub advisers via telephone, email or face-to-face will usually be available throughout the week. The incubation space will be offered free of charge for six months. In addition to free incubation space and one-to-one adviser support, the SEMSUP project also includes skills workshops, information webinars, priority attendance for various networking events and access to grant support.

Match-funded grants of up to £1,000 are also available which can be used for external consultancy for business improvement projects such as:

* Improving marketing or sales

* Supporting website development

* Managing or raising finance

* Developing or improving systems and processes

* Recruitment and management of staff

* Business planning

* Professional/legal advice relating to the business

To be eligible for the SEMSUP project, which is part funded by the European Regional Development Fund (ERDF), applicant enterprises must be less than 12 months old. Social enterprise applicants must reside in the South East Midlands LEP area and applicants for start-up commercial enterprises must reside in Northamptonshire.

To enquire about the incubation opportunity and the SEMSUP project or for any assistance for your business call the Growth Hub 01604 212696 or email: enquiries@northamptonshiregrowthhub.co.uk

The Northamptonshire Growth Hub was established in November 2013 to fulfil a need for business support for Small and Medium Sized Enterprises (SMEs) in the county and in that time has helped over 6,000 businesses. Our team of advisers handle over 500 calls every quarter, 70 per cent of which are established businesses but with a significant portion from pre-start and start-up enterprises. We operate from two state-of-the-art facilities in Northamptonshire – The Innovation Centre in Northampton and the iCon in Daventry

 

 

 

 

Notes to Editors:

European Regional Development Fund

The projects receive funding from the European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Department for Communities and Local Government (and in London the intermediate body Greater London Authority) is the Managing Authority for European Regional Development Fund

Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations.

For more information visit https://www.gov.uk/european-growth-funding.