New growth – focused business support to fuel the local economy

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Growth Works launches a new season of strategic growth support and grant funding

These expert masterclasses and courses are a direct response to research highlighting top challenges faced by growth-focused businesses across Cambridgeshire & Peterborough.

Early diagnostic research based on high growth and growth ambitious businesses across more than 20 different sectors in the region highlights sales and marketing strategy, access to growth finance and finding and retaining the right people as core barriers to their growth.

These findings mirror recent research published by the Scaleup Institute that identified high-growth businesses as significant contributors to the UK economy both nationally and locally.  In 2018 they added £1 trillion to the UK economy – 50% of the total SME economy. They employed 3.5 million, had an average turnover of £29.5m and continue to outperform the economy as a whole.

Particularly as businesses power up their activities in a post-lockdown, post-Brexit economy, this data indicates that businesses recognise the need to remain agile to an evolved yet unconfident market, with heightened competition and a growing concern over access to skilled talent.

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