The North East Growth Hub: levelling up the North East
By Colin Bell, Business and Sector Growth Director at the North East Local Enterprise Partnership
I don’t think it will surprise any individual or business who has searched for business support or funding when I say that the landscape can be confusing and difficult to navigate.
This is why the North East Growth Hub was created; to simplify the landscape through providing a single point of access to business support, and to offer specialist guidance in pinpointing how targeted interventions can help individuals and businesses make progress towards their vision and goals.
The North East Growth Hub, which between 2018 and 2022 directly engaged with 115,134 people and businesses, also performs an important role in coordinating the business support ecosystem. It works with 75+ partners and 300+ delivery programmes to align collective activities towards the achievement of the North East Strategic Economic Plan, and the creation of more and better jobs.
Whilst not having direct control over business support funding, the North East Growth Hub has worked with the North East LEP’s Business Growth Board, and business support delivery partners, to identify gaps in businesses’ journeys from start up to scaleup. Targeted interventions have been developed to fill these gaps, which has led to the creation of a range of services including, Scaleup North East, Supply Chain North East, High Potential Startups, the Scaleup Leaders Academy, Peer Networks and Made Smarter Adoption North East – to name a few.
The approach to partnership and coordination has also enabled the region to quickly react to and deliver targeted services and funding to support businesses through seismic economic events, such as Brexit and the COVID-19 pandemic.
It’s great therefore that the impact of the North East Growth Hub has been recognised through a recent independent evaluation, which to directly quote found that:
“Businesses that have engaged with the North East Growth Hub demonstrate tangibly higher rates of business growth than similar businesses that did not receive support, with each of employment, turnover, and labour productivity being stronger among supported beneficiaries than the control group.’’
Taking a deeper look, the study found that the 2602 business that received medium to high intensity support between 2018 and 2022 achieved higher levels of employment growth, 16% higher turnover growth, and an average £8.8k increase in turnover employee one year after engagement.
What this demonstrated is that the targeted support delivered through the North East Growth Hub works, and if scaled could have a significant impact in levelling up the region’s productivity performance.
What I’m particularly proud of is that despite facing ambiguity and cuts in funding, the team has been unwavering in their commitment to the people and businesses we serve, delivering exceptional person-centred support with passion and compassion, consistently achieving 96%+ customer satisfaction levels.
As we look to the future, it’s great that the North East has established many proven programmes and approaches – including the North East Growth Hub – that can be built on and taken to their next level.
You can access more information on the North East Growth Hub evaluation through the North East Evidence Hub.
If you’re looking for support to start, grow and improve your business then get in touch with the North East Growth Hub at www.northeastgrowthhub.co.uk.