Business growth and finance Archives - Page 25 of 29 - North East Local Enterprise Partnership

The North East has reached an exciting point when it comes to innovation. There is a cluster of companies, big and small, helping to position our region as a leader in the field of low carbon vehicles and clean technologies and this is somewhere that is making a real difference to industry.

Hyperdrive Innovation is based at the Future Technology Centre in Sunderland and for the past three years we have been developing electric vehicle and energy storage systems, including advances in battery packs and Li-ion battery management.

In simple terms, we provide companies with high specification batteries for use in electric and hybrid transport, industrial robots, off grid and portable energy storage.

Our ethos is to develop and manufacture new technology solutions that not only improve products but also help get them to market. It’s about approaching things differently and lowering costs of leading-edge technology. People come to us because they can’t find an off-the-shelf item; what we provide is designed around a specific need.

We’re currently working with an organisation to improve performance, availability and running times for a fleet of warehouse robots. We’ve been able to design a bespoke power system that achieves their unique requirements and this has given them a competitive advantage.

One of the most exciting developments at Hyperdrive Innovation is our new battery factory, which opened earlier this year. Previously we focused on engineering and developing new products, making them in prototype numbers but we now have the capability to fulfill orders for up to 10,000 units per year.

This provides us with an opportunity to use our technology to create products that are designed, developed and manufactured here in the North East. It also means we can look to expand the business and we are introducing a standard range so customers can benefit from economies of scale.

There is a lot of talent in the region and we work closely with Newcastle University on placement opportunities, which have resulted in full time employment. The Future Technology Centre is an impressive facility and the infrastructure is developing in the right way to drive the sector forward.

What I’d like to see is more collaboration between companies based in the region. The North East Automotive Alliance has recently been set up to provide a platform to share knowledge and best practice. We need to get people working together across sectors and ensure big businesses work with small businesses to develop new products and capability.

Ongoing technological development is key. If we develop it here in the North East we should strive to make it here too, generating more jobs and growing our economy.

I agree with the North East LEP helping to lead the way by positioning the automotive industry centrally within its innovation programme. The inclusion of automotive ensures a clear vision for the sector that will benefit organisations like Hyperdrive Innovation moving forward.

It’s an exciting time to be working in the innovation sector and we need to be ready to realise every opportunity that comes our way.

Steve Abbott, Business Development Manager at Hyperdrive Innovation

North East Growth Hub ‘User Engagement Strategy’ tender opportunity now live

Since launching the Beta version of the North East Growth Hub we have been working closely with the North East business community to drive the development of the platform forward.

We have now reached another important milestone in the North East Growth Hub’s development as we seek to appoint a company to develop and deliver an integrated user engagement strategy for the business support platform.

Working with the North East LEP and delivery partners Escher Group, the successful company will be responsible for building a loyal customer base for the North East Growth Hub. A key objective will be to develop strong relationships with businesses in the North East who will benefit from the services offered by the North East LEP’s Growth Hub.

What we’ve learned through the Beta testing phase is that businesses want to play an active role in the North East Growth Hub and continue to influence and direct its future development. Creating a strong network of users from the business community is key to the platform’s success.

The appointed company will build an engaged customer base that fully understands the opportunities and services available to them via the North East Growth Hub.

When launched, the North East Growth Hub will be the go-to resource for North East companies looking for information and advice on business support and finance. It will be home to the largest listing of business events happening in the North East as well as aggregated news and updates from the North East business community. For more information visit www.northeastgrowthhub.co.uk

Companies can register their interest by visiting the North East Procurement Organisation website.

The North East LEP has unveiled an early version of its new online business support platform – the North East Growth Hub, www.northeastgrowthhub.co.uk

Designed to be the go-to resource for North East companies looking for information and advice on business support and finance, the Beta-version of the Growth Hub is currently being tested by businesses across the region.

Bryony Gibson Consulting, Readysalted Design and Flo-culture are just some of the North East companies that have signed up to try, test and contribute to the Growth Hub’s content and feature development over the coming months.

There is still time for businesses interested in playing a part in the ongoing development of the North East Growth Hub to join the Beta testing phase.

Bob Paton, chief executive of the North East Local Enterprise Partnership, said: “The North East Growth Hub will flourish with the support of the business community, which is why we’re keen to welcome as many organisations as possible to test the Beta.

“Collaboration is key to the success of this project. We want the business community to share their thoughts and ideas about what the Growth Hub should do and how its features should support businesses in the North East.

“When finished, the North East Growth Hub will be a valuable resource that will champion peer-to-peer networking and conversation, as well as help anyone looking to sustain, develop or grow their business.”

The Growth Hub is a key project of the North East LEP’s Strategic Economic Plan. The North East LEP is working with delivery partners Escher Group, Cobweb Information and The Roundhouse, to deliver the project.

A number of core functions are already available on the Beta North East Growth Hub including a comprehensive business-to-business events database and relevant business news showing the breadth of what’s happening in the North East business community.

Information on the range of business support and finance advice available in the North East LEP area, including national, local, public and private support, is currently being built into the platform.

Anyone interested in taking part in the Beta testing phase of the North East Growth Hub can sign up via www.northeastgrowthhub.co.uk/register-your-interest

For more information, email [email protected]

The North East LEP will be attending a number of business events, exhibitions and conferences in the coming weeks and months to showcase the new platform.

Over the last month the debate on devolution has featured in many of my discussions with business leaders and politicians. The question around whether devolution is right for the North East is one I can answer quickly and one that many agree on – absolutely.

However recent conversations and press articles have focussed more on the details of the devolution offer including the proposition for an Elected Mayor. The Chancellor has promised that Devolution Bill will create a “revolution in the way we govern England” – whether the offer of Devolution truly meets this ambitious statement is still to be seen, but for the North East and its people it is an opportunity that cannot be missed.

Over the last two years we have developed a strategy for long term and sustainable economic growth. Through a detailed and evidence based understanding the North East’s economic challenges, set out in our Independent Economic Review led by Lord Andrew Adonis, we have written a strategy that will take the North East economy to where it needs to be – creating more and better jobs for everyone.

We have already secured a substantial investment through the North East Growth Deal to deliver this plan for growth and with the future calls from the European Structural and Investment Funds we can support more programmes and projects that will provide tangible and sustainable solutions to our employability, inclusion and skills, business support and access to finance and innovation challenges.

However the opportunity that devolution presents is one that can take the North East beyond just reaching national levels but to truly excel.

Our proposals for North East devolution must be ambitious and move beyond what we have already committed to deliver through our economic plan. And we need to be united and ahead of the game in our negotiations with Government.

We are in a strong position nationally to be one of the first regions to take advantage and maximise the offer of devolution, with a clear proposal ready to take to Government.

Government have been very clear on their position – intrinsic to the offer of Devolution is an Elected Mayor.

An Elected Mayor will not only provide a single point of contact that creates a united leadership and visible accountability locally, it will enable the North East to challenge and negotiate nationally with a stronger voice in the Northern Powerhouse and for greater autonomy and share in future funding. A devolution deal for the North East means embracing this opportunity and uniting behind the call for an Elected Mayor. Without it there is no devolution and the North East is at risk of not only appearing divided but being left behind.

The North East has a unique economy – it is important that it takes control of its future and becomes more accountable for its actions. The future of real ambitious economic success and long term change is through devolution.

Paul Woolston
Chair

It’s our role at the North East LEP to facilitate economic growth – targeting investment to create an environment where companies can feel confident and thrive.

A busy, fertile, connected marketplace where ideas and information are freely available and exchanged between small and medium-sized firms underpins an exciting new online platform we are developing at the North East LEP.

The North East Growth Hub is a pillar of our Strategic Economic Plan. It is an innovative digital platform which we believe will open up a wealth of new opportunities and information for the SMEs which drive so much of our economic growth.

The description that I like best is that the Growth Hub will be the business support nucleus for the North East.

It will be the single point of access to go to for companies, a knowledge centre in which to enquire, advise, share, support, help and be helped by other businesses.

We hope to build an online ecosystem which will co-ordinate and simplify business support, joining up national, local, public and private sector support.

A whole host of functions are currently being trialled with businesses, such as talking with each other to solve common issues through community forums and providing a comprehensive list of support and sources of finance to businesses and their advisors.

It’s imperative that the Growth Hub works for business. We are inviting more companies and member organisations to register to try out the platform. You can sign up at http://www.northeastgrowthhub.co.uk/register-your-interest/ .

Once you’ve signed up you’ll be sent an email with an online survey where you can give us feedback on the Growth Hub, which we will then use in the development of the site.

We’ve got a talented team on board to help turn our vision into reality. Escher Group are working with Cobweb Information and The Roundhouse to deliver the Growth Hub.

Colin Bell is the Growth Hub’s newly appointed project manager. He can be contacted at [email protected] and is keen to hear from companies with ideas about the Growth Hub’s development.

We are also spreading the word through our social media channels and are encouraging as many businesses as possible to help us by using the hashtag #negrowthhub.

It’s a bold ambition but is one we are confident we can deliver. The trial is progressing well. We’re fine tuning the Growth Hub’s functionality based on user feedback and from workshops we are hosting and hope to launch the full platform to business in the Autumn.

I hope that the Growth Hub will become the home page for regional businesspeople – the first site they turn to everyday when switching on their mobiles or laptop.

A more informed and better connected North East can only be good for our economic prospects as we look to create more and better jobs for all.

A guest post by Gillian Marshall, Chief Executive of the Entrepreneurs’ Forum.

The future of leadership and entrepreneurship were at the fore during our recent Entrepreneurs’ Forum’s spring conference, ‘Together We Can Take On The World’.

Top entrepreneurs from across the UK and around the world joined those in the North East for what turned out to be a truly inspirational day of sharing knowledge and creating valuable new business connections.

There was a real, positive upward trend that could be felt amongst the 300-strong audience of business leaders, who were also joined by some of the region’s aspiring entrepreneurs.

Floyd Woodrow, founder of Chrysalis Worldwide, has an international reputation for designing and running leadership and elite performance training for business, government, sport and the police. The ex-head of the Counter Terrorist Unit and decorated former Parachute Regiment and SAS soldier told the audience: “The ability for you as leaders to create the right environment for the leaders of tomorrow is critical, because that’s what leaders do. They create the future.

“You’ve got to have courage. Without courage, nothing happens, none of the things worth having in life are going to be given to you. You have got to fight for them. You have got to have discipline, especially as a leader you have to perform at that level.

“I’ve been involved in leadership my entire life and I still don’t think I’ve got it. It’s evolution. The best leaders are going to listen to everybody in the room and say ‘help me make my plan better’. In my entire career in business and in the military, I’ve only ever twice had to go against my team. Every other time, they have helped me to make my plan better.”

Charlie Mullins is the archetypal entrepreneur, having started his business, Pimlico Plumbers, from scratch in 1979 and building it into a multi-million pound enterprise. Born in Camden and growing up on an estate in South London, Charlie left school with no qualifications but, after completing a four-year apprenticeship he started his own firm, with just a bag of tools and a very old van bought at auction. The company now generates a turnover in excess of £25m, employing more than 260 staff, including 170 professional plumbers and 35 apprentices.

His advice to entrepreneurs and young people starting out in business harked back to his days as a young boxer in London. He said: “To succeed, you have got to put all and everything into it. You’ve just got to go for it. I know it’s corny, but you’ve got to be confident, have the will to succeed and believe in yourself. A bit like a boxer, if you take a knock in business, it’s important to get back up. I find in business, the harder I work, the luckier I become. You are not going to get nowhere without hard work.”

Richard Tait, of Golazo, is one of Seattle’s most accomplished entrepreneurs. He started his career at Microsoft where he had 12 start-ups within the company and pioneered four waves of innovation. He then founded Cranium Inc, which became the third largest games company in the world, selling more than 4 million board games in 22 countries and winning a world record five game of the year awards. He then worked with Howard Schultz at Starbucks, pioneering healthier alternatives in more than 10,000 stores, before founding BoomBoom, the Seattle branding and innovation lab, where he co-founded four companies in the last two years, including Golazo, a football mad company making natural sports fuel.

Richard talked of having a clear sense of purpose within business, saying: “We had a clear sense of purpose and mission that we would let people get lightened and enlightened with the creation of Cranium. We gave them a platform to show the world what they are capable of, it gives them a chance to shine.

“Rule number one in our book is ‘have a mission’. There is nothing more inspiring as humans than having a sense of purpose. If you can’t say to me what that mission is right now, either change it or learn it. Life’s too short.”

Jamie Combs, the unorthodox American entrepreneur, activist and educator behind the industry-leading NAKD brand, is a champion of the wholefood revolution. NAKD bars are the UK’s best-selling health food bars, outperforming global competitors on a fraction of their budgets. A fitness trainer, wrestler and pole vaulter, Jamie moved from San Francisco to Oxford with his brother and business partner Greg, feeling it was the perfect place to set up their new venture in 2004.

He concluded the conference with a message of simplicity: “Simplicity precedes confidence. It’s impossible to be confident if the world around us is too complex. For me, the insight that simplicity precedes confidence shows that the first step, if I am going to get something done is simplicity – simple, like falling off a boat kind of simple.”

The day offered a unique insight into how a number of hugely successful and respected entrepreneurs have built their businesses and lead their organisations. It was a chance for our region’s entrepreneurs to learn from the experience of their peers. To take time out of the day-to-day and have the opportunity to listen to those that have been there and done it.

Everyone you meet in life teaches you something and, although each speaker had a totally different background and experience, they all shared the same underlying message that excellence is not a single act. It takes great vision, strong values, a sense of purpose, team work, courage and a whole lot of support if you’re going to lead and grow a great business.

North East construction company Howard Russell Construction has seen its annual turnover double after signing up with GrowthAccelerator, the government-backed service which helps businesses to grow.

GrowthAccelerator works with SMEs with up to 250 employees or up to £40m turnover, offering bespoke support to help the business move forward.

Julie Skevington, Business Development Manager at Winning Pitch, said: “GrowthAccelerator is led by some of the country’s most successful growth experts who work with ambitious firms to upskill senior team members and identify barriers to growth.

“Every company is different so the solutions we provide are bespoke and include coaching and access to expert advice which helps North East SMEs to thrive.”

Cramlington-based Howard Russell Construction works with clients throughout the UK, offering a design and build service.

Craig Muldoon, Pre-Construction Manager at Howard Russell Construction, said: “We signed up to GrowthAccelerator and were assigned a coach which turned out to be very beneficial.

“We remained strong throughout the recession with a steady turnover of around £7 million however this coming year, we’re predicting a turnover of around £15 million. It’s a massive increase and I believe GrowthAccelerator has contributed to that.”

As well as a tailored package of support which can include advice on access to finance or coaching by innovation experts, GrowthAccelerator also provides access to up to £2,000 match funding for senior managers to hone their leadership and management skills.

Craig Muldoon said: “The help that Howard Russell Construction got from the scheme has been a strong factor in the company’s growth. We’ve increased our turnover, won new business and taken on more employees. Without a doubt I would encourage other businesses to look into what GrowthAccelerator could do for them.”

GrowthAccelerator is just one of the business support services available to SMEs in the North East.

There’s a tangible sense of positivity in the North East business community.

I hear it when I speak with business people and I feel their sense of excitement at seizing the opportunities that a more buoyant regional economy presents.

Employment in the North East has risen to record levels and unemployment is falling at a rate faster than anywhere else in the UK – key ingredients in making the North East the economic success story we know it can become.

Of course, there is still a long way to go to and many hurdles to be overcome. The North East LEP has its part to play in helping create the economic conditions for more and better jobs to take hold.

Our Strategic Economic Plan underpins everything we do to help us achieve this. Since we launched it back in March last year, we have secured £330m from Government as part of the North East Growth Deal, helping us secure substantial private and public sector investment to deliver up to 5,000 new jobs.

And we have appointed two world class business leaders to ensure we have the best people in place to help lead this change.

Securing Bob Paton, Accenture’s managing director for its North East Delivery Centre, as our interim chief executive and Hans Moller as our innovation director, formerly the chief executive of Sweden’s acclaimed Ideon Science Park, is excellent news for the North East.

Innovation, skills and business support are all inextricably linked in a fast growing economy. Bob and Hans have the experience, knowledge and proven track record to ensure these three pillars of our strategic plan are driven forward to benefit business.

Opportunity knocks for the North East as the dust settles on the General Election result. Our region is firmly on the political radar and the appointment of Stockton South MP James Wharton as the minister responsible for the Northern Powerhouse can only be good news for our ambitions.

We look forward to working with Mr Wharton, using our influence to ensure that the North East is fully included in Northern Powerhouse plans. The pre-election announcement by the Chancellor George Osborne of a six point long term economic plan for the region to help rebalance the UK economy through the Northern Powerhouse is very welcome.

Adding an extra £6bn to the North East economy in real terms by 2030, 50,000 new jobs by investing in strengths such as chemical innovation and exports and a £4.5bn investment in our transport infrastructure are bold ambitions with potentially huge prizes.

The North East LEP has its role to play in helping the region reach those goals. We are clear what we need to do, how we can get there, and now is the time to build on the region’s hard work by working with our partners to deliver on our plan.

We are holding a workshop for SMEs interested in shaping the development of the North East Growth Hub.

Taking place on Monday 20 April at 2pm at Watson Burton office, 1 St James’ Gate in Newcastle, the workshop will give SMEs based in the North East the opportunity to feedback on initial plans for the new online business support platform.

Led by Escher Group – recently appointed to build and develop the Growth Hub – and delivered in collaboration with Digital Leaders and the FSB, the workshop will help us better understand the needs of the businesses community and what different types of businesses want from the Hub.

The workshop will focus on early plans for the business support platform and give SMEs the chance to have their say on how its initial functions should develop.

A Beta version of the Growth Hub will be launched in the coming weeks, at which point the wider business community will be able to test and trial some of its features.

We are working to make the North East Growth Hub become the nucleus for business activity in the North East. The peer-to-peer platform will provide a digital environment for businesses to network and collaborate, as well as develop strong links with business support organisations in the region. The aim is to create a community of 2,000 active Growth Hub users by September 2015.

The Growth Hub’s success will be determined by the engagement and support of the business community. By developing a trusted platform where users can generate enquiry streams and stimulate business growth, it is hoped the online business support platform will become an invaluable tool for the North East that is ultimately managed and owned by North East businesses.

SMEs interested in playing an active role in the development and testing of the North East Growth Hub are invited to submit an Expression of Interest here. Escher Group, on behalf of the North East LEP, will be in touch with businesses that register interest.

To attend the North East Growth Bub Business Workshop, please contact Steve Blanks.

Category: Business growth and finance

In conversation with Steve Abbott, Business Development Manager at Hyperdrive Innovation

In conversation with Colin Bell, North East Growth Hub Project Manager

North East LEP invites businesses to test new business support platform

Devolution is essential for long term growth

New Growth Hub will be crucial for economic growth

Together we can take on the world

Firm doubles turnover with GrowthAccelerator

In Conversation with Paul Woolston

SMEs invited to attend North East Growth Hub workshop