Posted on 27th April 2020Category: News
Humber Businesses who were in a position to ‘scale up’ before the coronavirus hit could become more resilient, access new markets, and set new targets for their businesses with the support of the Scale-Up Business Development Programme.
The Humber Local Enterprise Partnership’s (LEP) Business Growth Hub’s Scale Up programme has supported several cohorts of Humber businesses who needed support to grow their operations since launching in October 2019.
The Scale-Up Business Development Programme had initially been designed to support established businesses that are ready to scale up their operations to take their next steps, and that had either grown turnover or staff numbers by 20% in the previous 12 months, or who had a genuine ambition to do so within the coming 12 months.
Although some businesses are understandably having to make difficult decisions on their future direction in the wake of the coronavirus crisis, there are businesses with ambitious growth plans who can still benefit from this scheme – which has been tailored to boost the resilience of businesses who would have been set to scale up before the economic impact of the UK and international lockdown.
The scheme can help Humber businesses to plan for the eventual ‘return to work’ or a ‘return to production’ following the lifting of the lockdown. It can also support them to plan for the recovery and their growth in the medium to long term, while also helping them explore and capitalise on new market opportunities that this crisis may generate.
Kishor Tailor, Chief Executive of the Humber LEP, said: “While we understand many businesses are currently facing difficulties with extremely challenging trading conditions due to the economic impact of the coronavirus crisis, others are in a position to keep growing their companies, but may need support to become more resilient and more adaptable during this time.
“Whilst we have much support available for businesses that are currently struggling to deal with the impacts of Coronavirus, we want those businesses who were in a position to scale up before the lockdown to know that support is very much still available to help tailor their direction and path to scaling up, and that we can help them to adapt to these difficult current conditions.”
Jon Brunton, Growth Hub Manager, said: “This programme will support businesses so that they are placed in the strongest position possible come the lifting of restrictions for businesses.“There’s never been a better time for business owners and leaders to adopt the old adage of ‘taking time away from working in the business to work on the business’. I would therefore strongly encourage any business with ambitious growth plans and ambitions for the future to engage with our Scale Up programme.”
To be eligible for this fully-funded scheme, businesses must be an SME, operate within the Humber region, have at least 10 full time (or equivalent) staff, and have a genuine ambition to scale up. Interested businesses should contact the Scale Up Programme by emailing: HumberLEPscaleupprogramme@winning-pitch.co.uk
Full information on the Scale Up Programme can be found here.