The business of creating 300 jobs
Small businesses across the North West created almost 300 new jobs and increased sales by almost £11 million following pioneering projects at the University of Cumbria. Business support initiatives–aimed at helping to transform the region’s fortunes–have seen dramatic results over the past two years, according to a new report from the University’s highly-rated School of Business and Enterprise.
The University’s “Connecting With Business” study reveals the major impact it is already having on the small and medium-sized business sector (SMEs) across Cumbria and Lancashire.
Since 2006 its projects have provided help and support to 968 businesses, social enterprises and community organisations through a range of economic regeneration programmes.
They range from new start-ups needing help and support to manufacturers looking to move their business forward.
The University is also looking to pioneer a new knowledge transfer centre for Cumbria. The University has helped create 294 jobs since August 2006, safeguarded 186 posts and increased sales by £10.95m, according to its latest figures. It has also safeguarded £6.17m of sales.
Funding for the various projects came from a range of sources, including the European Regional Development Fund (ERDF); The Northwest Regional Development Agency (NWDA); the Higher Education Innovation Fund (HEIF) and the Learning and Skills Council (LSC). Now more businesses across the region are being urged to take advantage of the expertise, help and support available.
£1 million to help unemployed graduates
The University has been awarded £1 million, the maximum amount available, by the Economic Challenge Investment Fund (ECIF) to deliver a project to help unemployed graduates in Cumbria find employment.
The University is the only higher education institution in the UK to be awarded the maximum amount for its bid, with 77 proposals in total across the country gaining funding from the ECIF.
In the midst of an economic downturn, the projects funded by the ECIF will provide real help in a variety of ways to graduates currently unemployed or under threat from redundancy.
The University’s project will provide a Cumbria-wide information, advice and guidance programme to unemployed graduates.
Individuals will be provided with a unique skills audit, tailored training and development in work-ready skills such as communication, business planning processes and introductory project management.
Placements with businesses will be available, as will graduate enterprise schemes to encourage graduates to create their own businesses.
Responding to demand from employers and sector skills representatives, taster courses will be made available to help graduates acquire new skills.
Discounts on course fees will also be available to unemployed gradates and small businesses, as will reduced fees for postgraduate courses.
This project will involve significant collaboration between educational institutions and organisations in the region, such as Cumbria Higher Learning, Carlisle, Furness, Kendal and Lakes Colleges, Cumbria County Council and the North West Development Agency.
The funding from the ECIF is provided by the Higher Education Funding Council for England (HEFCE) and amounts to £27 million nationwide. It is hoped that the project will help 11,700 businesses and 6,000 people across the country by helping to fund internships, placements, short targeted courses and help graduates look for work.
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