Start-ups give Sheffield an economic boost

SHEFFIELD'S reputation as one of the UK's leading centres for entrepreneurship has helped create 600 new jobs, according to the Sheffield Enterprise Agency (SENTA).

Moreover, the launch of more than 400 business start-ups in the city has not only created employment but is set to inject £50m into the city's economy by 2009.

But start-up agency bosses claim that the healthy annual figures are just a sign of things to come.

Mandip Dosanjh, SENTA enterprise director, said:

“Sheffield's economy is booming, when perhaps other cities nationally are beginning to feel the pinch of worldwide recessionary concerns.

“One of Sheffield greatest economic strengths is its emphasis on innovation and entrepreneurship and our annual figures would suggest this is will play a big part in the city's ongoing fiscal success.”

He added that Sheffield's start-up survival rate after the first year was nearly nine in 10 and that over the past 12 months, around 2,000 people had contacted SENTA, which is part of Sheffield Chamber of Commerce and provides fully integrated support to new business start-ups and businesses up to two years old.

Among the new start-ups are 39 nurtured in partnership with the Make it your Business initiative, which SENTA is delivering.

Over four years, the £24.4m programme will boost enterprise in Sheffield by helping more people to set up in business, supporting sustainable business growth and increasing the success rate of locally-owned businesses.

“Through this programme SENTA is ensuring that even in some of the city's less economically developed neighbourhoods, the effect of the entrepreneurship boom is still being felt,” said Mr Dosanjh.