News - 04 August 2023

D2N2 Growth Hub delivers £14m GVA to the D2N2 economy

Following the national review of the Growth Hub programme across England, the D2N2 Growth Hub was reviewed by The Insight Works Limited. Their review looked at the D2N2 Growth Hub 2.0 programme which ran from June 2018 to June 2023, following the success of the original Growth Hub programme.

The review’s key findings were as follows:

The D2N2 Growth Hub 2.0 has achieved the following impact:

  • Created an additional £14m of value to the D2N2 economy (based on GVA calculations)
  • Delivered over 192 jobs
  • Provided a ‘go to’ destination for inclusive business support, advisor support services and signposting, to help local Small to Medium Sized Enterprises (SMEs) develop and tackle issues which restrict their performance
  • Delivered business support services to over 1,340 businesses
  • Supported 696 enterprises through the project lifecycle, with over 186 receiving grant support to help with their digital needs, capital equipment and specialist consultancy costs
  • Delivered around 360 events per annum with nearly 10,000 participants attending
  • Achieved excellent value for money; its costs for the services it provided were a third of the cost of comparable business support programmes

The Business Investment Fund, delivered by the Growth Hub, has been particularly successful and has enabled applicants to achieve better performance and operational efficiencies. 78% of businesses that have accessed the funding stated they were more innovative as a result, and 73% had access to new technologies, equipment or facilities. The funding has allowed businesses to increase their Research and Development activities and subsequently increase their growth potential as a result.

The summative assessment for the Growth Hub 2.0 project shows it has delivered a strong level of support across the region for our SME base and achieved good levels of intervention in existing and new enterprises. The results of the assessment show incredibly strong results over the period, with 98% of businesses stating they would be likely to access future business support programmes, due to their experiences with the Growth Hub. An overwhelming majority of the businesses supported rated the Growth Hub services as good or excellent, with 92% of the respondents rating the Growth Hub Advisor support as good or excellent.

Tom Goshawk, our Head of Economic Growth and Strategy, said:

“We’re really pleased to see this report. It highlights the excellent work of the D2N2 Growth Hub team and its delivery partners, and outlines their great success in delivering support to over 690 businesses across our region. The D2N2 Growth Hub has continued to focus on the productivity challenges businesses are facing in the LEP area and through its delivery, has supported job and GVA creation, thereby helping to boost the D2N2 economy.”

For further details about the D2N2 Growth Hub, including case studies, click here

For media enquiries contact:

Nicola Swaney, Head of External Affairs, D2N2 LEP

nicola.swaney@d2n2lep.org

Latest News & Events

19 July 2024

Local business support boosted with launch of Early Stage Angel Investment Fund

Read Article

21 June 2024

Spotlight on our Board: Scott Knowles, Chief Executive, East Midlands Chamber, on the D2N2 LEP transition and East Midlands devolution

Read Article

11 June 2024

The D2N2 LEP staff team joins the East Midlands Combined County Authority (EMCCA)

Read Article

07 June 2024

Becky Rix, Marketing Director at Roadgas, explains why Roadgas is a proud member of the East Midlands Hydrogen Consortium

Read Article

05 June 2024

Spotlight on our Board: D2N2 LEP Board Member Natasha Johnson, Director of Partnerships at Global Entrepreneurs UK

Read Article

05 June 2024

Free Expert Business Advice and Support available through East Midlands Chamber’s Accelerator Programme

Read Article

03 June 2024

Spotlight on our Board: D2N2 LEP Board Member Professor Edward Peck CBE, Vice-Chancellor and President, Nottingham Trent University

Read Article

24 May 2024

Focus on the East Midlands: our time is NOW!

Read Article

24 May 2024

D2N2 LEP CEO, Will Morlidge, shares our East Midlands Hydrogen ambitions at UKREiiF

Read Article

24 May 2024

East Midlands Freeport and Freeport East Sign Green Freight Corridor Initiative at UKREiiF

Read Article

Get in touch.

Subscribe to our newsletter

Sign up
Address

D2N2 Local Enterprise Partnership
8 Experian Way
Nottingham
Nottinghamshire
NG2 1EP

Social

Our Partners