Boost programme creates over 400 Lancashire jobs
Boost a popular business mentoring service has helped 500 Lancashire firms achieve growth after seeing “unprecedented demand”.
Latest figures show the Boost Growth Mentoring programme has helped Lancashire firms create 418 jobs and added an estimated £7.8m to the region’s economy.
Available through Boost, the county’s business growth hub, the programme is funded by Lancashire County Council and the European Regional Development Fund (ERDF), and managed by Community & Business Partners.
It pairs growing business owners with experienced entrepreneurs to help them overcome challenges and identify new opportunities.
Growth Mentoring has been so successful that funded places are now fully subscribed. Community & Business Partners has moved to satisfy demand by launching the Northern Mentoring Programme, allowing businesses to access similar support on a self-funded basis.
Jaydee Davis, operations manager for Community & Business Partners, said: “We expected to run Boost Growth Mentoring until the autumn, but we’ve seen unprecedented demand which has seen all the Boost-funded places filled early.
“We’ve launched the Northern Mentoring Programme to continue matching Lancashire businesses with experienced business mentors to get advice in areas such as business planning, finance, sales, marketing and HR management.”
County Councillor Michael Green, Cabinet member for economic development, environment and planning, said: “It’s great to see Lancashire businesses making the most of the support on offer through Boost. The fact this support is leading to job creation and increased economic activity is a clear indication of its effectiveness.
“Growth Mentoring has been incredibly popular, so we welcome news that Community & Business Partners can continue meeting demand with a paid-for service with the Northern Mentoring Programme.”
The Northern Mentoring Programme allows the service to be opened up to businesses who previously didn’t quality under the ERDF funding criteria, including businesses-to-consumer companies and firms that aren’t necessarily high-growth businesses.
Boost is currently submitting a bid for a third phase of funding support with the aim of allowing a new programme of fully-funded business mentoring support to be made available from 2019.
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Boost Business Lancashire (Boost) is the name for the Lancashire Business Growth Hub. It is led by the Lancashire LEP (Local Enterprise Partnership) and Lancashire County Council and supported by funding from the European Regional Development Fund (ERDF).
The role of Boost is to help growth-hungry Lancashire businesses realise their potential by providing simple access to a range of leading-edge funded programmes, delivered by specialists with a track record of growing established and innovative start-up businesses. Boost also helps businesses access specialist private sector business support, as well as other nationally funded programmes, where relevant.
Between July 2013 and July 2015, Boost provided growth advice and support to over 2,800 local businesses across Lancashire, with many benefiting from tailored programmes of consultancy, grants or mentoring to support their growth. Boost has so far helped to create over 1,200 jobs and new economic activity valued in excess of £10m.
In November 2015, Boost secured £7.8m of new funding to run for a further three years from January 2016.
Boost Business Lancashire has received £3.8m of funding from the England European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Department for Communities and Local Government is the Managing Authority for ERDF. Established by the European Union ERDF funds help local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information, visit https://www.gov.uk/european-growth-funding.