A COVENTRY and Warwickshire business support organisation has helped create around 11,000 jobs in a decade.
The growth hub is celebrating its tenth anniversary and demonstrates its impact to date in the sub region in the current SmartRegion report.
It offers independent advice, guidance, and ongoing support at no charge to businesses – since the closure of CWLEP last March it has become a stand alone organisation with two shareholders – Coventry City Council and Warwickshire County Council.
Over the last decade, CW Growth Hub has built working partnerships with local partnerships with local partners including Local Authorities, Universities and Catapult Centres to ensure businesses have been able to access support and programmes that best suit their needs.
This has added £410million in gross value to the local economy and has leveraged around £315million in private investment for business in Coventry and Warwickshire.
Over the last ten years, the area saw an increase in the employment rate and a decrease in the unemployment rate for the working age population – the total number of businesses in Coventry and Warwickshire has increased from 31,590 to 37,345.
Phil Peak, deputy chief executive of the hub, said the organisation has helped over 10,000 businesses in the last decade.
“We have supported tens of thousands more through our work as Cluster Lead for the West Midlands Growth Hubs, but there are still many more businesses to reach, as well as taking businesses that we have already helped to the next stage of their growth.
“We also have new shareholders following CWLEP’s closure which is testament to all the work that we have done over the last ten years, and becoming embedded into Coventry and Warwickshire’s business community.”
Craig Humphrey, chief executive at the hub, said “Run by business for business, we are continually learning about what is, and what is not, working in terms of supporting businesses with their most challenging needs.
“It is recognised that engaging businesses with support is difficult, and we know that businesses often prefer to take advice from trusted sources and at trigger points when faced with challenges.
“The Growth Hub has become a trusted and invaluable resource for the business community of Coventry and Warwickshire, and my thanks goes to all of the partners that have supported us, and to everyone that has played a part so far.”
