INBUSINESS
Looking to the long-term
If you’ve seen the latest figures released from Legal and General in August, you’ll see that they’ve reported ‘consistent delivery of growth’, with investment management up 4%, operating profit up 5% and group-wide investment up 38%.
Group Chief Executive, Nigel Wilson in an interview with the BBC, said that they’ve never had such a large order book in the UK, in housing, regeneration and investing in small growth businesses.
Making sure local businesses can get the information, advice and financial support they need to invest is more critical now than it’s ever been.
That’s why, SEMLEP is reviewing how to strengthen its Growth Hub service in line with the work they’re doing to prepare the area’s Local Industrial Strategy. This strategy is looking at what investment business say they need, and that contributes to boosting overall economic performance.
“As we head into our fifth year, SEMLEP’s Growth Hubs are supporting more businesses and more of those businesses are getting higher value, more intensive support,” said SEMLEP’s Growth Hub Manager Malcolm Johnston (pictured).
“Growth Hubs were set up with the mission to coordinate and simplify access to good quality, business support to help improve productivity, tackle barriers to growth and access the vast array of funding and finance opportunities available.”
“The number of businesses coming to us for intensive, one-to-one support to prepare for the future has more than doubled in this quarter compared to last year.”
Paul Griffiths, chief executive of the Chambers of Commerce for Northamptonshire and Milton Keynes, and Chair of SEMLEP’s Growth Hub Board, said: “Our area is very successful in business start-ups, a key indicator of a successful, growing economy. We also have higher than average business survival rates. But, we’re less successful in taking our businesses to the next stage and reaching their growth potential.”
Looking to the long-term, SEMLEP’s Growth Hub will be ramping up direct support for businesses with the potential to grow fast.
According the latest independent business survey commissioned by SEMLEP, businesses that achieve growth of 15% per annum – known as ‘scale-up’ businesses – were 25% more likely to have innovated in the past 12 months, and 31% more likely to innovate in the next 12 months.
“The Growth Hub Board is keen for SEMLEP to drive investment in this area.” said Paul Griffiths.
Malcolm Johnston said: “SEMLEP will continue to work with established businesses. We have secured Government funding to make sure that we remain a single point of contact for all businesses in the SEMLEP area seeking business support.”
For more information visit
www.semlep.comor call 01234 436 100
OCTOBER/NOVEMBER 2018 inbusiness 35
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