A new business start-up initiative that will build on the success of the Ready for Business programme has been announced by Nick Clegg, Deputy Prime Minister today. The programme funded by Round 6 of the Government’s Regional Growth fund will be delivered across England by the Cavendish Consortium in areas where there are lower levels of business start-up. The Consortium, that is made up of six regional Enterprise Agencies together with National Enterprise Network, has helped to create 10,000 new jobs through the current Ready for Business programme. The new Start and Grow programme will specifically target start-up businesses who are investing to stimulate growth and create employment from an early stage. It will offer a package of support to help those new businesses grow faster, achieve higher survival rates and employ more. The support will include one to one advice, business skills training, mentoring, access to finance support and business planning.
The award is subject to completion of satisfactory due diligence.
Kevin Horne, Chairman of the Cavendish Consortium said:
“We are delighted that we have received an offer of RGF funding for the next two years. The Cavendish Consortium is made up of the leading enterprise agencies in the country alongside National Enterprise Network and it is dedicated to supporting entrepreneurship and enterprise across the country. The RGF funds will allow us to run an intensive support programme for new businesses that have growth ambitions. We will support them to start and grow in a manner which will improve their survival chances and create sustainable jobs. We will target our efforts in those areas which have lower levels of entrepreneurship and which will therefore benefit most from our intervention. This offer of funding enables us to build upon the work that we have been doing in the last three years which has helped to create 10,000 new jobs.”
Andrew Wilson, Head of Enterprise Services, at local delivery partner Nwes said:
“It is fantastic that we will now be able to support more start-ups through this RGF funded programme, using our proven expertise to offer a unique and dedicated support package to new businesses.
“With the commitment made to this programme, Government has demonstrated the value that start-up businesses have in our local economy and the role they play in business growth. We are incredibly proud to have been successful in our bid to support additional start-ups through the development of this new programme.”
The Government’s Regional Growth Fund has invested nearly £3 billion to help businesses in England to grow; so far generating over 100,000 jobs.
56 new awards in Round 6 announced today, and seven through exceptional RGF support, gives £297 million to 63 projects and programmes to create and safeguard thousands more jobs and unlock an additional £1.5 billion private sector investment.