Growth Hub’s £55m boost to economy

BUSINESS Growth Hub has contributed almost £55m gross value added (GVA) to the Greater Manchester economy and has helped to create 6,000 jobs as it celebrates four years of working with businesses across the region.

Since inception in 2011, the Hub has been at the heart of Greater Manchester’s economic growth plan and is claiming to have safeguarded 10,792 jobs in the process.

Business Growth Hub, part of Manchester Growth Company is backed by the City Deal and the European Regional Development Fund.

It says the demand for its services, which include mentoring, access to finance, digital skills and green growth has increased year-on-year among the region’s growing businesses.

To date, it has engaged with more than 19,105 businesses and helped to secure £57.45m worth of funding for companies across the North West through its Access to Finance team.

Richard Jeffery, director at Business Growth Hubm said: “What we’ve achieved over the last four years in Greater Manchester has been phenomenal.

“The figures speak for themselves, and it’s been down to the hard work of the team at the Hub, along with our solid network of advisers, mentors and partners.

“We’re now at a stage where we can continue to build on our successes and look ahead to the next phase for Business Growth Hub. Manchester is at a tipping point in development. We have seen some fantastic innovation take place here, and we must ensure there is the support service behind this movement to keep businesses in the region.

Vanda Murray, Co-Chairperson of Business Support and Business Finance at MGC said: “It’s fantastic to see the Hub’s continued success and the growth of client companies across the region.

“The team’s work is vital in supporting our local entrepreneurs and business leaders and in turn, economic growth in Greater Manchester and the statistics are testament to this.”