Category: Business growth and finance

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In conversation with Paul Lancaster: Newcastle Startup Week and Newcastle Scaleup Summit

When I first started planning our 5-day, region wide and multi-venue ‘Newcastle Startup Week’ festival way back in September, the North East LEP were one of the first organisations to get behind us as they could see the value of creating a new event to inspire and encourage more people to start and grow a business in the North East.

Having spent almost 15 years helping other people start and grow their own business whilst working for local enterprise agencies, youth enterprise schemes, community groups and Government organisations, I know there’s a huge amount of advice, support and goodwill in our region and a close-knit business community of people who want others to succeed. Even so, if it’s not your job to be aware of what’s on offer, it can be difficult to know who and where to go for the best advice for your business which is why we set out to put everything on a plate in one week.

It was an ambitious event to put on, with many different aims, but I’m delighted to report that our event on 15-19 May 2017 was a huge success with over 600 people coming together across the week. One of the things I’m most pleased about was that we managed to attract people from the whole business community, of all ages and walks of life, from other regions and countries, and from many different sectors too. This wasn’t just a ‘tech’ conference. It was a festival for anyone with an idea for a new business or project, or who enjoys helping innovators and entrepreneurs bring their ideas to life and fulfil their potential.

Throughout the week, we saw new ideas emerge, connections being made, products launch, business partnerships form and money exchange and I’m happy to say this has continued to happen in the weeks since which is very exciting to see and something we will continue to help delegates with over the coming weeks and months.

Our first Newcastle Startup Week really worked, so my fantastic festival co-producer Sarah Crimmens and I have already started planning our next one in May/June 2018 which we expect will be an even bigger success for everyone involved! In the meantime, we’ll be running a 1-day ‘Newcastle Scaleup Summit’ at the Live Theatre on Thursday 23 November 2017 which will help delegates grow their business or at least see exactly what they need to do to move to the next level.

Going deeper into the topics we covered on our ‘Growing & Scaling’ day during Newcastle Startup Week (sales, marketing, PR, recruitment, innovation, mindset), our full-day Newcastle Scaleup Summit will feature a range of speakers in the morning who will share personal and practical insights on how they grew their own business, or can demo products, services or programmes they provide to help others fulfil their potential.

These will then be followed by facilitated workshops, breakout sessions and 1-2-1s where delegates can put the ideas into practise and immediately start using any products, services or programmes that will help them grow and scale.

We’re delighted to say that the North East LEP is already onboard as one of our Headline Sponsors and will be on hand to not only explain why ‘scaleups’ are important to the North East economy but show how businesses can benefit from the wide range of mentoring, coaching, training, networking and growth funding packages they are supporting from that day onwards.

A full schedule and speaker line-up will be announced soon but ‘Early Bird’ tickets are on sale now for just £80 at http://newcastlescaleupsummit.eventbrite.com

We look forward to seeing you there!

Paul Lancaster
(aka @lordlancaster)
Founder & Event Producer
Newcastle Startup Week +
Newcastle Scaleup Summit

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“There’s no limit to what you can learn,” with Yvonne Gale, NEL Fund Managers.

Yvonne Gale is CEO of Newcastle-based NEL Fund Managers, which provides tailored funding solutions to ambitious and growing businesses in the North East.

As CEO, Yvonne is responsible for setting the direction for the team at NEL, working with investors and overseeing investment strategies.

After being partnered with a personal business mentor though the North East LEP’s Growth Through Mentoring programme, Yvonne reflects on the experience:

I’d heard about the LEP’s mentoring programme and then I bumped into Helen Lee, the Mentoring Co-ordinator at a networking event.

I firmly adhere to the idea that there’s no limit to what you can learn and how you can improve. There’s lots of information online which we can learn from but it’s totally different from someone’s lived experience and I was keen to have the opportunity to learn one-to-one from a business leader, using their personal experience.

Yvonne and her mentor met for three sessions over the course of four months.

It’s an iterative process. In between meetings there’s time to let what you’ve discussed soak in and think about the next steps. Personality-wise, my mentor was a very good match and made me feel confident that I could discuss business matters confidentially.

With mentoring, you get out what you put in – you need to be prepared to talk about what’s genuine and challenging to you.

If you’re facing a challenge, just because it’s something you’ve never done before, doesn’t mean that no one else has. Other people have wisdom they can share and the beauty of mentoring is that you don’t have to take the advice offered. If it’s not right for you then that’s fine.

I believe it’s important to interact with people from outside your own business and be open to learning from how others run their businesses. Mentoring for me has been a positive, shared experience.

The North East LEP has recruited a bank of experienced mentors who are available now to mentor leaders of North East businesses which have the potential to scale up. Find out more about Growth Through Mentoring

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Furniture businesses go for growth thanks to specialist manufacturing scheme

Furniture manufacturers from across the region have been encouraged to focus on their expansion plans thanks to the North East Local Enterprise Partnership’s (LEP) Manufacturing Growth Programme (MGP).

South Shields-based fitted furniture business Roundel Manufacturing and rustic solid wood specialists Funky Chunky Furniture have both used the support of MGP advisers to advance their business plans and aim for further growth.

Specialist MGP consultants helped Roundel to identify skills gaps in their current management structure, in turn supporting a more united team with a clear direction for the future.

Roundel Manufacturing Sales & Commercial Director Jim Bebbington said:

The more personal support from MGP advisers made us take the time out of our business to consider the future, then create a plan to deal with it. Their advice was so worthwhile. We now expect to continue our growth (17% projected for the next year) with development into new product sales.

Currently relocating to larger premises, the timing of MGP support was just right for Funky Chunky Furniture. Through identifying areas to improve the business, MGP specialist consultant Graham Sleep suggested a new Material Requirement Planning system for the company to streamline their processes and gain more control over their operations.

Managing Director Kevin Johnston said:

We have now identified a suitable system and we are in the process of setting it up. It will significantly improve operations and help us grow quicker than anticipated

Our manufacturing efficiency will increase, we are investing in new machinery and are employing 2 new members of staff. We’ll have the opportunity to expand our furniture range and will also be exploring new markets domestically and internationally in the next 6 months. It’s very exciting times.

The programme’s Senior Project Manager Simon Allen said

It’s fantastic to see the development our region’s manufacturing businesses thanks to this specialist pilot programme, and I’m looking forward to seeing how both Roundel and Funky Chunky grow in the coming months.

Designed to help senior managers within manufacturing companies to assess and identify barriers to growth, the MGP pilot programme has worked intensively with 20 North East manufacturers to date on improving their business performance and increasing sales, with over 20 more currently going through the programme. The North East LEP is urging other companies to participate, based on the successes reported so far.

Colin Bell, Growth Hub project manager at the North East LEP said:

Offering four fully funded sessions with a dedicated and highly experienced business improvement specialist, the MGP pilot will run until July 2017 and aims to work with businesses across the North East LEP area.

The programme forms part of our Strategic Economic Plan to foster growth within key sectors of the economy to create more and better jobs. I’d urge ambitious businesses to sign up now.

If you are a manufacturing business looking to grow in Tyne & Wear, County Durham or Northumberland, find out more about how to take advantage of this fully funded support at www.ne-mgp.co.uk.

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Preparing for Brexit

Colin Bell, North East LEP Business Growth Director, on preparing for Brexit:

Last week we joined forces with the CBI and law firm Ward Hadaway to hold a breakfast seminar, advising businesses in the North East on how we can all begin to prepare for the impact of Brexit.

 

We were joined by representatives from sectors including manufacturing, engineering, healthcare and finance gathered for the event, which took place almost exactly a year since the referendum which saw the UK vote to leave the EU.

 

Even though we’re still in the dark about the consequences of Brexit on the way we do business, it’s vital that we begin to get ready for the changes which are sure to come.

 

Sarah Glendinning, Regional Director of the CBI, began the morning by outlining the CBI’s six key principles which it says should guide UK negotiations with the EU: barrier-free trading; certainty on regulation; a migration policy that gives companies access to skills and labour; an approach that protects social and economic benefits of EU funding; and a smooth exit from the EU, avoiding a “cliff-edge” that causes disruption.

 

Sarah’s advice was that we have to ‘get on with business’ despite the uncertainty and indications of support from the business community for staying within the EU.

 

During the event I asked the question ‘How can we develop a culture within businesses that can adapt and flex in relation to the risks and opportunities Brexit will bring?’

 

Even though we’re now in a time of change and uncertainty there are still ways in which businesses can be preparing for Brexit’s impact and it’s not too early for us to be putting strategies in place.

 

During the session I outlined a number of ways in which business leaders can begin to prepare including making links with organisations such as the Department for International Trade and looking into opportunities within growing overseas markets such as Asia and China. Above all, business leaders must offer strong leadership to their teams and know that it is never too early to start to make plans for change.

 

We also heard from Colin Hewitt, Partner and Head of Commercial at Ward Hadaway, who spoke about the legal implications of Brexit, saying: “It may be early days for the Brexit negotiations but with less than two years before those negotiations are due to conclude, the situation has the potential to change very quickly so businesses have to start taking steps now to ensure they are not caught out.”

Colin H also discussed the impact on areas including employment, procurement, competition and commercial contracts and outlined some practical steps which businesses can take now.

It was encouraging to see so many people from the North East business sector turn out to learn more about how we can make the best of this time of change. It’s important that we work together as a region, not only taking steps to mitigate risk and uncertainty but also identifying and maximising new opportunities which may also be a result of the new business landscape.

We will be holding more partnership events like this across the region, helping business to prepare for Brexit. Sign up to the North East LEP mailing list to be kept informed about future dates.

 

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Welcoming the Northern Powerhouse Minister to the region

Andrew Hodgson, Chair of the LEP Board, welcomed the Northern Powerhouse Minister to the North East in his recent column for the Journal newspaper.

It was good to welcome Jake Berry, the new Northern Powerhouse Minister, to the North East this week.

 

Taking the time to meet with regional business leaders just days into his new role and learn about our world class subsea sector on a visit to North Tyneside, confirmed his commitment to the Northern Powerhouse programme.

 

As they say, actions speak louder than words and blocking out his diary to press the flesh in the North East and Cumbria resonated with businesses.

 

The minister was clear in his meeting with the North East LEP and its partners at The Sage that on his appointment, the Prime Minister Theresa May tasked him with reinvigorating the Northern Powerhouse.

 

He said she reaffirmed the Government’s support for the Northern Powerhouse which is viewed in Westminster as the key economic policy tool to rebalance the North-South divide.

 

Liverpool-born and a North West constituency MP, it was clear that the minister gets the North and has its best interests at heart.

 

His commitment is to help narrow the productivity gap which has blighted the North and stopped it contributing its full economic worth to the national economy.

 

No small task. But a cause with which he will find many allies across our region.

 

We took the time to emphasise to him the central role the North East plays in this economic rebalancing.

 

Our refreshed Strategic Economic Plan underpins all the economic activity in the region to help it reach its target of 100,000 new jobs in the decade to 2024.

 

The minister was encouraged to learn that we are ahead of schedule, creating 58,500 new jobs to date – with 60% of these posts in the ‘better jobs’ category of technical, managerial and professional roles.

 

A visit to Newcastle University’s new National Centre for Subsea and Offshore Engineering in Wallsend emphasised to the minister in the clearest possible way the region’s commitment to driving new economic growth through focussing on key   business sectors.

 

The LEP told the minister of the importance of subsea, offshore and energy technologies,   advanced manufacturing and engineering especially in automotive and medicines, life sciences, digital and financial, professional and business services to North East economic growth.

 

These areas of world class excellence are helping generate the wealth, new and skilled jobs and productivity fuelling record levels of employment and cutting the numbers of people out of work.

 

The fundamental role the North East has to play in the success of the economic rebalancing of the North of England economy was recognised in the recent Northern Powerhouse Independent Economic Review.

 

The evidence confirmed the importance of the North East and its growing economy in driving overall growth in the North of England.

 

Far from being on the periphery, our region is front and centre to the progress of the Northern Powerhouse.

 

 

 

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North East business leaders urged to begin preparations for Brexit

Businesses in the North East are being urged to prepare for Brexit by the North East Local Enterprise Partnership (LEP).

In association with the CBI and Newcastle-based law firm Ward Hadaway, the team at the North East LEP is hosting a free briefing event called The Impact of Brexit on Business, at which speakers from each of the organisations will provide local, national, legal and practical perspectives on the changes Brexit will bring for the region’s businesses.

Colin Bell, Business Growth Director at the North East LEP, said: “The reality is that we don’t yet know the minutiae of how Brexit will affect business but that doesn’t mean that we can’t begin to prepare for the changes it will bring.

“The key question therefore is how can businesses best prepare for what’s largely unknown? We’ll be talking more about managing risk, developing a flexible and adaptive culture, and advising business leaders on where they can go for advice as the implications of Brexit become clearer.”

The free seminar, which takes place on Wednesday 21 June, is aimed at senior management in the private sector.

Sarah Glendinning, Regional Director of the CBI, will talk about the national perspective on Brexit, Colin Bell will give an update on the North East perspective, and Colin Hewitt, Partner and Head of Commercial at Ward Hadaway, will talk about legal and practical considerations.

“This event will be particularly important for any companies trading within Europe or looking to establish markets overseas,” said Colin Bell.

“Having the ability to manage and lead your business and its people through change is going to be critical and it’s never too early to start the process of planning for this.”

Colin Hewitt from Ward Hadaway said: “There has been an awful lot of talk about Brexit since the vote to leave the EU last June, obviously many businesses are unsure about what it will mean for them and how they can best prepare for what is to come.

“The general election result has of course thrown further uncertainty into the mix, with a potential change in the approach to negotiations.

“Despite this, there are some issues that businesses can start to address and some practical steps which companies can take now in order to prepare themselves for what the Brexit negotiations may bring.

“Attending this seminar will give senior managers a useful overview of some of the key issues, where we currently stand, what they can expect over the coming months and what they can start to do now to be ready to meet the challenges.”

The North East LEP will be holding regular events on Brexit in association with Ward Hadaway and the CBI throughout the period of the negotiations.

The Impact of Brexit on Business takes place on Wednesday 21 June, from 8am to 10.30am at Ward Hadaway on Newcastle’s Quayside. There are still some places available and you can book on our eventbrite page here.

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Scaleup and grow: North East LEP seeks entrepreneurs for mentoring programme

Entrepreneurs looking to grow and scale their business are being sought for the North East Local Enterprise Partnership (LEP’s) Growth through Mentoring programme.

Six months after launching, a bank of experienced North East business leaders are ready and waiting to act as mentors for business owners keen to learn from others’ experiences.

Companies experiencing rapid growth or rapid growth potential need to learn to cope quickly with changing demands, but many find it hard to develop their managerial and leadership talent while their organisations are growing so fast.

It can also be lonely at the top and having someone to talk to outside of the business, that recognises and understands these challenges, can be invaluable.

The programme is led by North East LEP Mentoring Co-ordinator Helen Lee, who matches mentors with mentees based on each person’s individual skills and experience.

Helen said:

The programme is off to a great start with mentors actively working with North East businesses with high growth ambition.  Importantly, all the mentors we’re working with have first hand experience of growing and scaling business. There is a phenomenal range and depth of experience within our pool of mentors and the pool is growing.  If you are the leader of a growing business and would like to be matched with a mentor, we want to hear from you.

These mentors can help people to gain the skills and knowledge required to scaleup their businesses, which is vital for the growth of the regional economy and an important part of the North East LEP’s Strategic Economic Plan for the North East.

Pamela Petty, ex Managing Director of family-run business Ebac, is participating in Growth through Mentoring as a mentor and has been matched with Sam Wass, from the Great British Meat Company. Pamela added:

I’m really passionate about the North East, and feel that if I can help grow the economy by sharing my experience then I should.

I love people that are passionate about what they do, so working with people like Sam is a pleasure.

Sam Wass, Director of the Great British Meat Company, has benefited from Pamela’s background in manufacturing and selling online. The company is an online butcher, which has taken a traditional business diversifying into digital retail. As a result, they are currently on target to increase revenues by 50% this year.

Sam said:

After just one session I knew I had a good and positive match and in fact we’ve already honed in on an issue that we are likely to focus on.

It really helps when there are lots of comparable experiences, and your mentor has the same mindset as you – for us that’s in terms of manufacturing. I’m looking forward to continuing with the programme and seeing where this dedicated support takes the company next.

More details are available on the Growth through Mentoring webpage.

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North East LEP – Election response statement

Andrew Hodgson, chair of the North East LEP said: “How Britain negotiates its exit from the EU will have a huge impact across the United Kingdom and especially here in the North East.

“We will continue to work with all parties to achieve the best outcome for the region as the Government strives to secure the best deal for the UK.

“We remain committed to delivering the North East’s Strategic Economic Plan, which has already created an extra 58,200 jobs in the local economy, and which will inform our response to future Government policy.

“At this time of change and uncertainty we reaffirm our commitment to working in close partnership with the business community to ensure the North East’s strategic priorities remain high on the national agenda.”

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Helen Golightly launches our 2016-17 annual review

Our Executive Director, Helen Golightly talks about a year of change and achievement as we publish our annual review.

Presenting our annual review for 2016-17 gives us time to take stock of our achievements and look at how far the North East economy has progressed.

It is also a valuable staging post to examine how growth aligns with the longer term targets the region has set to contribute more to the prosperity of the UK economy.

Our annual review reports on progress made against targets set out in the Strategic Economic Plan (SEP) – the North East’s roadmap to creating 100,000 more and better jobs by 2024.

Our senior team details work carried out over the past 12 months in key areas to fuel economic growth – finance and investment, business growth, skills, innovation and Enterprise Zones.

The SEP itself was given a refresh to recognise a changing economic and political climate since the first version was published back in 2014.

Newly revised and based on wide-ranging consultation with partners and the latest economic data, it sets out how we can make the North East economy stronger and wealthier.

Economic analysis shows us we are in an extremely strong position to continue driving the plan forward.

I am delighted with the results of the SEP refresh process. We have a strong strategy that is supported by robust economic data and presented in a way that works for all our stakeholders.

It’s pleasing to be able to report that as of December 2016, there are an extra 58,200 jobs in the North East economy – a major step taken down the road to our 100,000 target.

We’ve raised our sights to strive for 70% of these new jobs to be better jobs – that’s in posts such as management, professional and skilled roles.

Our annual review reflects greater collaboration with the region’s business community.

Their input into the refreshed SEP and on-going support for work to hit its targets is vital.

Andrew Hodgson, the LEP chair, and all our board members are leading the strategic direction and delivery of the SEP with widespread business backing.

In skills, Ryan Gibson, our Good Career Guidance Benchmarks National Facilitator was named Career Educator of the Year at a prestigious UK awards ceremony.

Resounding endorsement of Ryan’s work and the huge steps taken by the LEP skills team to embed opportunity into schools with business advisors, to give pupils the chance to realise the job of their dreams through the Gatsby Foundation National Career Benchmarks Pilot.

I was also delighted to see the North East Growth Hub go from strength to strength over the past 12 months, successfully delivering hundreds of referrals to finance and business support providers.

And securing the £145m North East Fund for exclusive investment into hundreds of North East companies was a hugely positive achievement for regional business and future economic growth.

Booming levels of employment and low unemployment mean the North East economy is well placed to drive the SEP forward.

Its aims are set high, but we believe are within our reach, with the region’s stakeholders united and focused on the job in hand.

Read the annual review online now