CW Growth Hub CEO Craig Humphrey looks ahead to Rachel Reeves’ highly-anticipated Autumn Budget.

Rachel Reeves’ first Budget as Chanceller of the Exchequer is already leading to business organisations across the UK publicising their ‘wish lists’ for the newly-elected Labour Government. Coventry and Warwickshire Growth Hub CEO Craig Humphrey looks ahead to the Autumn Budget at the end of this month and puts forward his own suggestions.

There has been plenty of positive messaging from Labour when it comes to business, leading up to their landslide success at the General Election polls and at their party conference in Liverpool.

This now needs to be turned into action which is why the Autumn Budget on October 30 is going to be so interesting.

We want the new Chancellor of the Exchequer, Rachel Reeves, to focus on stability which is key on several levels.

As a Growth Hub network, we are not asking for more funds but, like all businesses, we are craving stability within the eco-system. This is important because it allows firms in all sectors, whatever their size, to plan for growth, recruit new employees, or invest in capital machinery, while having a certain degree of faith that the economy is going to remain solid or experience an upward trajectory.

As economic eco-systems have shown around the world when there is stability, there are better results delivered, and that’s what we have been advocating back to Government in our regular communication with Ministers and officials.

In a response to my letter, Gareth Thomas MP, Minister for Services, Small Business and Exports, responded on September 24 to re-iterate the Government’s pledge to support small businesses – the beating heart of our economy – as well as developing and delivering an Industrial Strategy, for which I have been lobbying for many years.

At the Autumn Budget, I would like there to be a long-term funding model announced for the Growth Hub network instead of waiting each year to find out our funding settlements.

The 41 Growth Hubs are not demanding more money, but if we know each year what funding we will receive then we can plan better and it helps people in the industry looking at business support as a career rather than just a job.

And, more generally, I hope that Labour delivers on their policy of change because all businesses need to have the confidence to plan for their future and it is their growth that boosts the economy and wider society.

A few months after Labour’s overwhelming success in the General Election, the economy is not growing at the rate the party wants in order to achieve its targets, which is why Rachel Reeves’ Budget is going to be really important in giving businesses the confidence that UK plc is heading in the right direction.

I want there to be an air of confidence and feel-good factor in the Budget to encourage investment and we can start to lay the foundations for a positive economic future.

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Client testimonials

Without the Growth Hubs help and assistance, we would never have been able to increase our sales & output and also grow our local business. With this help in purchasing new equipment we have expanded our operations and gained a new and increased customer base.

Nuneaton Roof Truss,

Over the past few years, Armstrongs has built up a fantastic relationship with Gary Thyeson from the Growth Hub. His advice on grants and funding has been really valuable to both Armstrongs and some of our clients. His knowledge of local business support has been helpful in signposting us to relevant support agencies as required. We look forward to working with Laura Delahunty moving forwards.

Armstrongs Accountancy LTD,

In the short time since first engaging with the Warwickshire Growth Hub we feel that Laura has understood our vision and has been so very supportive in linking us to the specialist teams who are now supporting us with training, finance and recruitment. A great service that every growing organisation should connect with

MES Systems Limited,

I have had an excellent experience working with Laura from the Growth Hub, from day one, she was taking detailed attention to my concerns and ideas. She was able to put me in contact with different organisations and people to find out answers to my questions and help me to solve some inquiries I was having. I feel this support definitely had a positive impact in my plans.

PALACIOS LTD,

It’s been a fantastic inaugural eight months for the TalentTech Recruitment team and, although the reality of setting up and running a company can be a somewhat daunting experience, we have been extremely grateful for the superb help, advice and guidance given to us along our journey by Gavin Barnett and the team at CW Growth Hub. Gavin’s introductions to both Warwick & Coventry Universities and his wider business network have been absolutely invaluable.

TalentTech Recruitment LTD,

For many individuals out there, it is very hard to figure out ways and know which direction to go when it comes to setting up a business. The challenges of taking your idea and bringing it to life and not knowing where to go and who to speak to for advice. it can get very frustrating..

King of Saffron LTD,

This grant [which we received with the help of the Growth Hub and Coventry City Council] will really help us get on track for business growth and succeed with our vision. Personally, I would also like to thank the team for supporting me through the grant application process. You have been very approachable and attentive throughout.

Exeter Analytical (UK) Limited,

Thank you for the comprehensive and professional guidance

Burbidge & Son Ltd,

Over the years since the Growth Hub was set up we have habitually gone to our Account Manager as a one-stop shop for all business-related information. It has been a really convenient way of finding suppliers, advisors and, on one occasion, we even asked for assistance with finding customers. We are invited to a wide range of business events including business development workshops, Brexit roundtable discussions, seminars on various topics and have also been asked to speak at some events. When we have needed additional information, for example, finding finance sources or help with selecti

Marchantcain Design Limited,

Thanks to CW Growth hub getting us access to grant funding we have been able to invest in the latest computer monitoring system, which will enable us to compete with the national companies within our industry.

Comrie Leisure Limited,