FEATURE
ENTERPRISE & INNOVATION
Newark Beacon – more than just a location
When it comes to deciding on a location for a business, there are numerous options to consider, chiefly location, size and, of course, cost. But an increasingly important factor is considering how the location will support and guide a business to reach its full potential. The team at Newark Beacon takes this to the
next level. Apart from offering managed workspace options, there is a genuine desire to see the businesses under its roof flourish and grow. David Smith (pictured), Business Coach at Newark Beacon, explains the reasons behind the success of the resident businesses.
TALKING BUSINESS Newark Beacon welcomes the opportunity to find out more about its businesses, so that it can be better positioned to help them. By understanding the issues faced by its businesses, Newark Beacon can identify and introduce solutions – part of the business coaching process that is available to all resident businesses.
LEARNING NEW SKILLS It’s a fast-paced world and there’s always something new to take on board. But where to start? Newark Beacon hosts a regular programme of seminars and events, delivered by experts, providing its businesses with the latest tips and techniques to grow and many of these are free and available to non-residents too. Newark Beacon also works closely with other support programmes, such as the Chamber’s Digital Growth Programme, to bring high quality, informative events to its residents.
DO BUSINESS LOCALLY How well do you know your business neighbours? It’s often the case that businesses locally need your product or service, but if they don’t know about you, then they are unlikely to buy from you. Newark Beacon hosts regular networking meetings and actively encourages businesses to work with each other. It’s a great feeling watching our businesses supporting and doing business together.
FLEXIBILITY IS EVERYTHING Newark Beacon recognises that the needs of any business changes over time. The ability to move to larger or smaller units is crucial to the development of a business, and residents have the opportunity to do so at Newark Beacon. Its 30-day terms also mean that businesses can react to changes very quickly without fear of being tied into long-term contracts.
SPECIALIST ACADEMIC HELP IS AT HAND The ability to tap into research and development provided by universities is not just limited to city-based businesses. Newark Beacon has close working links with the University of Nottingham and Nottingham Trent University. As a result, The University of Nottingham is presently working with a Newark Beacon resident to develop a prototype for a new product.
INCREASED START-UP SPACE Demand for smaller offices, typically for one to two people, is on the up. Thanks to support from Nottinghamshire County Council and Newark and Sherwood District Council, Newark Beacon has been able to react to this increase in demand by reconfiguring three of its larger units into nine new, small offices, ideal for a start-up or recently-launched business.
FUNDING AWARENESS There is a huge amount of support out there, but we know that the residents of Newark Beacon are very busy doing what they do best. That’s why Newark Beacon understands the support arena and brings anything that is relevant to the attention of its businesses. It has helped its residents to access over £200k in financial support from grants and banks, by understanding their needs, identifying suitable programmes and assisting them with all aspects of the application process, including developing financial forecasts.
36 business network October 2017
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