South: Thames Valley Berkshire LEP announces breakthrough initiative for ambitious businesses

Thames Valley Berkshire Local Enterprise Partnership (LEP) has been successful in its application for Wave 2 Business Growth Funds – which is supported by the Government’s Regional Growth Fund (RGF) – and secured a grant of £1.23 million to establish a Business Growth Hub. The new initiative is being managed by VitalSix which has been appointed as the Hub operating partner.

The ultimate aim of the Hub is for it to be central to driving business growth in Thames Valley Berkshire. It will enhance and accelerate business performance, help more businesses to take advantage of national support programmes, increase jobs, raise levels of exporting and help deliver the Strategic Economic Plan for the region.

Through the Business Growth Hub, Thames Valley Berkshire’s SMEs will be able to benefit from support from experienced business people and have easy access to facilities and networks. It will provide a focused, co-ordinated, business services offer, which will boost economic performance by bringing coherence and visibility to local business support, and refer clients efficiently and effectively into national and local programmes.

The Hub will be accessed through a digital platform, complemented by local face-to-face support. It will provide opportunities for businesses to meet and discuss needs and solutions, access networking events and local incubator centres.

David Gillham, non-executive director of the Thames Valley Berkshire LEP, commented: “We are thrilled to be launching the Thames Valley Berkshire Growth Hub as a one-stop shop for businesses in the sub region that want to succeed.

"Over 40% of companies in region are knowledge-based, many with a significant propensity to grow. We aim to reach approximately 10% of this group that would benefit from our hub services or a fast track to the Chamber of Commerce and Government’s business support helpline. We will be providing a service that will drive the level of growth even higher and support businesses at every stage of their development, as well as encouraging the creation of new, sustainable jobs and safeguarding existing positions. This really is a positive step for ambitious businesses in the sub region.”

Susan Elliott, managing director at VitalSix, added: “We are delighted to have been chosen to work with Thames Valley Berkshire LEP to provide this valuable service for local ambitious businesses. Our experienced team has a long history of supporting Thames Valley Berkshire businesses to make their plans a reality. This new injection of funds will enable us to work closely with the leaders and top teams in those innovative businesses that are hungry for growth. We know that with the right advice and guidance, and where necessary a little more finance to make things happen more quickly, Thames Valley Berkshire’s SMEs have a greater chance of success against their national and global competitors.”

Allocation of this Regional Growth Fund money will be through Lancaster University. As well as helping to decide which cities’ proposals received funding, Lancaster University academics will also be providing ongoing support and evaluation of the cities.