New figures reveal support provided by CW Growth Hub

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New figures have revealed the help and support provided to businesses in Coventry and Warwickshire in 2024, by a leading business support organisation in the sub-region.

Coventry and Warwickshire Growth Hub had another busy 12 months referring 3,353 businesses to programmes run by a wide range of partners throughout the region, including support for hospitality, leisure and tourism businesses, scaleup SMEs, manufacturers, and net-zero and sustainability support.

Almost 1,200 individual local businesses were supported by its account management team during the calendar year.

All of this wide-ranging support is predicted to have created 2,505 jobs and safeguarded another 9,783 jobs.

The value to the local economy is expected to reach £53.9 million while the investment from the private sector totalled £13.3 million.

Craig Humphrey, CEO of Coventry and Warwickshire Growth Hub, said the figures underlined the need for the independent organisation in the region, after a turbulent year for businesses.

He said: “The General Election in the summer of 2024 created optimism which was dampened by the Budget in October, which had an adverse effect on business confidence.

“At the Growth Hub – and this was reflected by other business organisations – when confidence is low, there are more enquiries coming to us from companies seeking help and support.

“We have seen an increase in enquiries for our programmes available throughout Coventry and Warwickshire.

“The business landscape hasn’t really settled since Labour took power on the back of Brexit, the pandemic, the war in Ukraine, the rise in energy prices, and the strain on the labour market - the cumulative impact has made it a really difficult time to do business.

“I’m hoping that even though the economy is still struggling – although the latest inflation figures were slightly better than some predicted with a surprise fall – when the Spending Review finishes in the Spring there will be more positivity, because this will be critical to the Government’s ambitions and the institutions that are here to help businesses with support.

“Coventry and Warwickshire Growth Hub is often cited by Government as an exemplar in the Growth Hub network and our figures emphasise the success of our account management system providing businesses with the right type of support at the right time to meet their needs.

“We’re here to help and provide advice for everyone from micro businesses to global giants and the key themes for engagement and support over the calendar year were access to finance, general advice and guidance, overcoming economic challenges, and referrals and signposting to programmes such as The Warwickshire Manufacturing Growth Programme and Made Smarter.

“2024 was our tenth anniversary year and we remain as committed as ever to providing businesses with all the support, advice and funding opportunities they require to expand, recruit extra staff, export, or learn new skills.”

Looking ahead to this year, Craig is planning to increase Coventry and Warwickshire Growth Hub’s lobbying with Government.

“In 2025, I would like to establish an All-Party Parliamentary Group for Growth Hubs. One has been established for the West Midlands and we need 20 MPs to support our plan, so I have had some early discussions with MPs in our area.

“It would give us an opportunity to inform Government about what’s going on in Growth Hubs around England and, since we have access to over one million businesses throughout the Growth Hub network, it is an opportunity I’m pursuing over the next few months.”    

 

 

Made Smarter WM

Made Smarter is a national movement to drive growth amongst UK makers and advance the UK economy. Backed by world renowned businesses and the UK government, it will improve the development and adoption of emerging technologies. Making a real, everyday difference to people from the boardroom to the factory floor.

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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,

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Part of the Government-supported growth hub network