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The University of Nottingham and Nottingham City Council are working together to offer a support package for 100 small businesses in the city that want to fulfil their growth potential.
The new Growth 100 programme, a key element of the Nottingham Growth Plan, is offered free of charge to eligible businesses. The programme will help to develop the skills and knowledge that the owners and directors of businesses with growth potential require to help them exploit their opportunities and lay the ground for future investment.
Nottingham University Business School, supported by experienced business professionals, will provide this practically focused support for the management teams of the businesses selected to join the Growth 100 programme.
Bespoke training and development
Each company will undertake a detailed business needs analysis to determine the kind of support required. This will then lead to a bespoke training and development plan for the owners and directors of the business, covering areas such as leadership skills, finance, human resources, marketing, innovation, peer networking and other key subjects.
A business growth plan for investors
A key outcome of the programme will be that each business develops a Business Growth Plan. This will also articulate the strategy and possible expansion plans of the business, which can in turn be used as a basis of a presentation for potential future investors.
Nottingham City Council's Deputy Leader, Councillor Graham Chapman,said: “We believe our Nottingham Growth Plan has the potential to completely restructure this city’s economy.
"This Growth 100 Programme is the first of many initiatives within the Growth Plan and is aimed at two types of business owners – those who might not have thought about expanding before but believe their enterprise has the potential to grow and those who own businesses with high growth potential requiring financial investment so needing a bespoke business plan to present to investors.”
Aimed at businesses with growth aspirations
The programme, which is part-funded by the European Regional Development Fund (ERDF), is aimed at small and medium businesses in Nottingham which have the potential and aspiration for growth, job creation and a need for investment in the future.
Professor Martin Binks, Dean of the Nottingham University Business School, said: “I am very pleased that we have been selected by Nottingham City Council to deliver the Growth 100 project. We have worked closely with small and medium sized businesses for many years and our expertise will help business owners to innovate and create the competitive edge they need to develop and expand over the coming years.”
Helping to create new jobs and wealth in Nottingham
Places on the Growth 100 programme are free and business owners and directors need to commit to 12 days of training over the course of the year. Each place represents over £5,000 of investment in terms of the programme content and the networking, mentoring and peer group support.
Mike Carr, Director of Business Engagement and Innovation Services at The University of Nottingham, added: "At the University, we recognise that it is vitally important to the local economy that we work to support those businesses that have the potential for significant growth. It is these businesses which will form the backbone of the future economic landscape of Nottingham, creating new jobs and wealth in the city.”
Any businesses that are interested in Growth 100 can obtain an application form and more information by emailing businessgrowth@nottinghamcity.gov.uk