More than 660 businesses across the Sheffield City Region have now benefited from the Growth Hub’s Enhancement Project since it launched in April 2016, with more than 360 supported in 2018 alone. The support offered to high growth businesses in the region has contributed to the creation of 170 jobs and supported the development of the regional economic growth.
The Project, which is financed by the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020, offers support to high-growth companies including intensive one-to-one support from a Key Account Manager and access to free Masterclasses delivered by private sector experts.
In reaching the landmark, £1.1 million of specialist business support grants have been committed to the regions businesses, while Masterclass sessions on specific aspects of business have been attended by 390 SMEs across the city region.
Businesses to have taken advantage of the support span a wide range of different sectors from high-tech software development to advanced manufacturing.
They include the likes of Trans-Sport.TV, a Retford-based company that creates broadcast equipment for clients covering events like the World Snooker Championship and saw turnover rise by 20% after accessing funding and advice.
Sheffield digital agency Appt also sought the Enhancement Project’s help to expand into China. The expansion into new international markets proved to be a success for Appt, creating 2 jobs overseas and leading to significant growth in Sheffield where they now employ 12 staff.
Also blacksmith firm Nigel Tyas Ironwork and family-owned manufacturer Wentworth Pewter have shown that the steel region can still make products desired around the world, having adopted new strategies after working with the Enhancement Project that have increased sales by almost 10 per cent and 20 per cent respectively.
Dave Grimes, Head of the Sheffield City Region Growth Hub, said: “The impact that the Enhancement Project has had on businesses throughout the region has been fantastic to see.
“Whether we are providing funding to help a company develop a sales and marketing plan, offering information on locations for new premises, making recommendations to help directors reach their goals, or delivering Masterclasses to improve a business’ core skills, it is great to witness the changes and growth that our support often leads to.
“There are thousands of regional SMEs with real potential to expand and thrive with the right practical and strategic guidance, and we hope to work with many more in the future to realise their ambitions.”
For more information about the Sheffield City Region Growth Hub Enhancement Project, visit www.scrgrowthhub.co.uk/growth-hub-enhancement-project, email growthhub@sheffieldcityregion.org.uk or call 03330 00 00 39.
The Sheffield City Region Growth Hub Enhancement Project is receiving up to £2.7m of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Ministry of Housing, Communities and Local Government (and in London the intermediate body Greater London Authority) is the Managing Authority for the European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit https://www.gov.uk/european-growth-funding.