As part of Dafferns’ ongoing engagement with Coventry & Warwickshire First, Emily Ball-Goldfinch went along to a CW First Breakfast Briefing with Growth Hub CEO, Craig Humphrey.
Below are some highlights from his presentation:
Business support is more important than ever
With an economy generating over £22bn in output, comprising 22,065 businesses employing some 320,000, Coventry & Warwickshire has seen some of the fastest growth in productivity in the UK.
At the heart of this is Craig Humphrey and the CW Growth Hub celebrating a decade of support. Run by business for business with account managers who understand the area, the Growth Hub has engaged with 10,000 local businesses, directly supported 5,000 enterprises, secured 2,300 grants totalling £40 million, leveraged £315 million private sector investment and added £410 million GVA creating 11,000 jobs. This level of commercially experienced 1-2-1 support has earnt Craig and his team national recognition as a model hub.
Keeping a relentless focus on effective delivery
Craig goes on to say “It is important that we have the autonomy to deliver against objectives” – to this end there is a focus on 365 scale-up businesses across the region with 20% year on year growth. With the latest C&W Chamber QES proving further evidence of growing confidence, the Growth Hub’s local business intelligence is vital to “visualise the future ahead”.
A big push required on upskilling around EV maintenance, AI/software development. Increased referrals to the net zero programme and demand for energy audits. The need to keep product development onshore (US/India competition), deep dive into materials supply chain with an eye on cashflow so staff can be deployed to align with deliveries and deploying EDI (Electronic Data Interchange) software to remain approved suppliers or pitch to win contracts. There is a genuine appetite to set up industry apprenticeships to ensure traditional skills are not lost whilst embracing the new.
We remain the front door for business support system in our area
That is a global front door. As Birmingham reaches a decade high for Foreign Direct Investment (FDI), across the wider West Midlands, Coventry & Warwickshire remains best performing area for FDI job creation with 56 projects delivering 3,195 jobs. Focussed on future mobility, digital creative and logistics, the region is the second largest recipient of UK Manufacturing Investment, around 25% Growth Hub support is directed to this sector.
Coventry & Warwickshire is the jewel in the crown
Why Warwickshire? Did you know that we have a high rate of international patenting, commercial space can be up to 60% cheaper than in London, top 30% strongest performing economies of all upper tier local authorities, 75% of England within a 2-hour drive with research led universities on our doorstep, a hot bed of R&D, excellence in advanced manufacturing and low carbon technologies and home to Silicon Spa creative quarter.
Why do businesses choose Warwickshire? For the availability of grants and incentives, strong local skills base and the availability of business partners/suppliers.
Chatting to businesses every day
Given the depth and breadth of businesses engaged with, the Growth Hub is set fair to support businesses for the next decade. Contact Craig and the team at [email protected] to access a decade’s worth or Warwickshire wisdom!
Simon Cossey is Dafferns’ Business Development Consultant and part of our Strategic Advisory team.
