chesterfield business support

Business community called to inspire future talent in Chesterfield

Businesses are being invited to play a pivotal role in shaping the future of Chesterfield by getting involved with local schools.

This is an opportunity not just to give back to the community but to help cultivate future talent to drive Chesterfield’s economy forward.

Local businesspeople are encouraged to engage with students by attending careers fairs, conducting mock interviews, and participating in employer question-and-answer sessions.

Beyond these events, some schools are also seeking work experiences for students in years 10 and 11., providing them with invaluable insights into the world of work.

The schools reaching out include Brookfield Community School, Outwood Academy Hasland Hall, Outwood Academy Newbold, Parkside School, Springwell Community School, St Mary’s Catholic High School, Whittington Green School and Netherthorpe School.

It is hoped that links with businesses will provide real-world experience and guidance to shape the career paths of young people.

Keith Hirst, Headteacher at Brookfield Community School, emphasised the importance of this initiative: “There is no better way to inspire our young people and give them insights into the world of work than by connecting them with local businesses. Engaging in activities like mock interviews, careers fairs, and Q&A sessions allows our students to understand how businesses operate and what it takes to build a successful career.”

Mr. Hirst added: “We aim to support our local businesses in developing strong workforces. These sessions offer mutual benefits—for our schools, our young people, and Chesterfield’s broader economy.”

Councillor Tricia Gilby, Leader of Chesterfield Borough Council and Vice Chair of the council’s Skills and Employment Partnership, echoed these sentiments, urging businesses to get involved: “It is vital that we bridge the gap between education and business to ensure our young people are equipped with the knowledge and skills needed to thrive in their chosen careers.

“Businesses have a crucial role to play in inspiring future talent, showcasing the diverse career opportunities available in Chesterfield, and preparing local students for their future steps. This is not just a chance to contribute to the community but an opportunity to connect with potential future employees, understand the emerging workforce’s expectations, and ensure that the skills they are nurturing align with industry needs.”

For more information on how your business can support local schools, including a list of schools and event dates, please visit the Chesterfield website.

Looking to upskill your workforce and boost your business? Explore available resources and support at: https://www.chesterfield.co.uk/business/business-support/

Businessperson speaks to room full of school pupils

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Free support helps Chesterfield businesses improve efficiencies and growth

Nearly 700 businesses across Derbyshire have already benefitted from free support to improve their energy efficiencies and growth, thanks to the Accelerator Project.

The project, which started last autumn, and funded by UK Government through the UK Shared Prosperity Fund, is already making a tangible difference to businesses across the county. So far, over 400 businesses have received an hour or more of Business Adviser support which guides them in accessing the most appropriate support, whether it be the raft of initiatives that make up the Accelerator Project, or local authority or national grant funding.

Of the businesses supported so far, there has been almost a 50:50 split of those in urban and rural areas. Some 53 businesses have tapped into growth vouchers of up to £2,000 towards specialist training or consultancy advice and 50 have taken advantage of fully subsidised energy audits.

Of the grants and growth vouchers awarded to participating businesses, it is anticipated that 62 jobs will be created or safeguarded as a result of this support.

One beneficiary of the support has been Images Costumes, based here in Chesterfield.

A designer, manufacturer and retailer of bespoke dancewear and logo uniforms, Images Costumes can make any costume design in any fabric combination for customers throughout the UK and overseas.

Managing Director Michelle Webb is working with Chamber business adviser Peter Lawrence on the Accelerator project to support business growth and future sustainability.

Michelle was referred to the Made Smarter East Midlands digital adaption programme and was successfully awarded an £8,300 grant to purchase a new CAD system, enabling the business to be more competitive and to offer a larger range of designs and sizes.

With this advantage, it will safeguard and create new jobs.  The business also hopes to reduce its energy consumption, reduce costs and improve efficiency through a funded energy audit.

Images Costumes Managing Director Michelle Webb said: “The support we received from the advisers on the grant project was key to the success of the funding application.

“Small businesses like ours don’t have dedicated procurement departments so such expert knowledge and experience was invaluable. In addition, they were able to bring additional areas of support to our attention, such as the energy audit, which we might otherwise have missed. It was exactly what was needed.”

East Midlands Chamber Deputy Chief Executive Diane Beresford said: “We are already seeing the Accelerator’s fully-funded energy audits making a tangible difference to businesses across the county.

“We all know it makes business sense to reduce energy usage, but every business needs a starting point when it comes to understanding their current usage and before they can consider improving their business operations and practices. An energy audit carried out by an expert shows a business exactly what’s needed to reduce costs and provides the evidence needed to apply for a decarbonisation grant.”

Derbyshire County Council Cabinet Member for Clean Growth and Regeneration Councillor Tony King said: “This investment to support businesses in Derbyshire to be greener and more efficient is most welcome and it’s great to hear how local companies are benefitting.

“The Accelerator Project builds on the success of our own Green Entrepreneurs Fund which supported businesses, organisations communities and individuals interested in developing skills in the green economy and investing in green energy and carbon reduction schemes.

“I’d encourage any local business to consider signing up to the Accelerator Project to help reduce their costs as well as their carbon emissions.”

Are you looking for business support in Chesterfield? Get in touch with us here, and we’ll refer you to the available schemes that are relevant to your needs.

 

Chesterfield Accelerator

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Chesterfield businesses urged to take up free green and digital skills support

Companies across Chesterfield and North East Derbyshire are being urged to take up the offer of free training.

North East Derbyshire District Council and Chesterfield Borough Council have joined forces to offer green skills and higher digital skills courses – made possible thanks to £200,000 worth of funding from the UK Shared Prosperity Fund.

The green skills courses will help construction companies access skills development that will help them comply with the Future Homes Standard (FHS) – which requires new homes built from 2025 to produce significantly less carbon emissions than under current building regulations – and will also contribute to the UK achieving its 2050 net zero target.

The higher level digital skills courses are open to businesses of any kind, interested in equipping their workforce with essential digital skills.

Cllr Tricia Gilby, Leader of Chesterfield Borough Council and cabinet member for economic growth, said: “We’re committed to ensuring that everyone can improve their skills and access new career opportunities. These programmes will allow people to upskill in their current roles, access promotions and ensure local businesses have access to the skills they need. The focus on green skills will also help ensure we can become a carbon neutral area and reduce the impact of climate change.”

Cllr Jayne Barry, North East Derbyshire District Council’s Cabinet member for Growth, said: “This is a great opportunity for businesses across our district to upskill their workforce as we move towards a greener and more sustainable future. Also, a future which is increasingly reliant on the use of technology, with all the rewards and threats that can bring.”

Chesterfield College will be delivering green skills courses, including the installation of wall insulation, solar panels, and heat pumps. As well as hybrid vehicle awareness and a qualification in sustainability.

While Derby-based training provider Althaus Digital will deliver a suite of higher level digital skills training, including generative AI in digital marketing, cyber security and green digital training programmes.

Courses start from 22 August 2024 and run until Feb/March 2025. Some are short one day courses, while others take place over several days.

They will be delivered face-to-face and also online – and are all free.

To find out about all the courses available at Chesterfield College and to book on a session, visit www.chesterfield.ac.uk/greenskills/ or call 01246 500500 for more information.

For more information about the Althaus courses, contact Am Seabright, Director of Transformation am@althausdigital.co.uk 07913424467.

If you can’t make any of the courses, don’t worry as there is some flexibility with dates.  Just contact Economic.Development@NE-Derbyshire.gov.uk for more information.

Looking for more support for your business? Find out more about the latest schemes available at: https://www.chesterfield.co.uk/business/business-support/

Two women wearing VR headsets and animation on big screen

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Local business support boosted with launch of Early Stage Angel Investment Fund

‘Early stage’ businesses based in Chesterfield can now pitch to access new funding to support growth.

The Early Stage Angel Investment Fund (ESAIF) was developed by the D2N2 Local Enterprise Partnership (D2N2 LEP) ahead of it becoming part of the East Midlands Combined County Authority (EMCCA) earlier this year.

The Fund, which has been launched at events in Derby and Nottingham.  aims to stimulate investment and growth in ‘early stage’ companies – those that have been trading between six and 24 months.

D2N2 LEP/EMCCA are contributing £4 million to the fund, match-funded by ESAIF fund manager, Haatch. Over the longer term these funds will be re-invested in the programme, to catalyse investment and growth for more early-stage companies.

The Derby launch event, held at Derby Arena, featured a video keynote address by Claire Ward, Mayor of the East Midlands , and presentations by D2N2 LEP Deputy Chair and EMCCA’s business representative David Williams MBE DL, Lewis Stringer of British Business Bank, Samantha Deakin of the University of Derby and Fred Soneya of ESAIF fund manager Haatch.

Claire Ward, Mayor of the East Midlands, said: “Supporting our local economy is one of my priorities as Mayor of the East Midlands and I’m delighted we’ve been able to launch the Early Stage Angel Investment Fund.

“I look forward to hearing all about the impact of this fund, how it supports our local businesses, and how it will help our regional economy thrive. I’m keen to see what we can achieve together through this significant investment and strong collaborative partnership.”

The Early Stage Angel Investment Fund was announced by D2N2 LEP Chair Elizabeth Fagan at the UK’s Real Estate Investment and Infrastructure Forum (UKREiiF) in Leeds earlier this year.

To find out more information about the Fund and to make an application visit: https://haatch.com/investors/haatch-d2n2-esaif/

If you’re looking for more support for your business, find out more about the schemes which may be applicable to you at: https://www.chesterfield.co.uk/business/business-support/

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More than 1,100 businesses engaged so far with Accelerator business support

A growing number of businesses in the East Midlands are benefitting from tailored business support, thanks to the Accelerator project.

Evaluation of the project’s performance at its halfway point has identified over 1,100 businesses that have been engaged and are working with a business adviser to boost their growth.

The project, which is funded by the UK Government through the UK Shared Prosperity Fund (UKSPF), was established in the autumn and is being delivered by East Midlands Chamber in Derby, Derbyshire, Nottinghamshire and Leicester.
Alongside one-to-one support from a business adviser, the project has so far also delivered the following:

• 102 growth vouchers up to the value of £2,000 to help businesses access tailored, 1-2-1 consultancy support to introduce digital technology and green measures.
• 300 workshops and webinars successfully attracting over 7,000 delegates.
• 50 energy saving and improvement audit approvals to help businesses create an action plan to save money.

Businesses signing up to the project have also been introduced to the wealth of additional support available from other regional and national sources. For innovative SMEs, this includes growth and scale-up support from Innovate UK Business Growth. Manufacturing micro and small businesses can also benefit from Made Smarter support on how to switch to advanced and automated technologies.

East Midlands Chamber Deputy Chief Executive Diane Beresford said:

“From our launch events onwards, we’ve listened to what businesses want in terms of what, where, when and how they would like to access Accelerator support.

“Chamber and D2N2 Growth Hub support is undoubtedly at its best when businesses are given a helping hand to apply for support from other sources, including grant funding and pitching for investor support.

“The Accelerator project has some challenging targets including the creation and safeguarding of jobs, creating new enterprises, accessing new technologies or processes and engagement in knowledge transfer activity. We’re certainly on the right trajectory to achieve that and for any business yet to sign up, I would urge them to seize the opportunity before the project ends in March of next year.”

Learn more about the Chesterfield accelerator scheme and other initiatives available to support businesses in the town: https://www.chesterfield.co.uk/business/business-support/

Chesterfield Accelerator

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Early stage businesses in Chesterfield to receive support from new funding

A new support fund for businesses which have been trading in our region for between 6-24 months has been officially launched.

D2N2 LEP Chair, Elizabeth Fagan announced the launch of D2N2 LEP’s Early Stage Angel Investment Fund at the UK’s Real Estate Investment and Infrastructure Forum (UKREiiF) in Leeds this week.

Speaking at the interactive panel session ‘Focus on the East Midlands, our Time is Now’, alongside East Midlands Mayor Claire Ward, Elizabeth said:

“I’m delighted to announce today that we are launching our Early Stage Angel Investment Fund here in Leeds at UKREiiF. The purpose of the Fund is to stimulate investment and growth in ‘early stage’ companies – those that have been trading between six and 24 months – that are based in Derby, Derbyshire, Nottingham or Nottinghamshire (the D2N2 region).

“D2N2 LEP is contributing £4 million to the Fund and this will be match-funded by our investment fund manager, Haatch. Our aim is that over the longer term, these funds will be re-invested in the programme, to catalyse investment and growth for further early stage companies.”

The partnership aims to drive economic growth by investing in emerging startups and entrepreneurial talent in the region.

D2N2 LEP is a leading force in driving economic growth and job creation in Derbyshire and Nottinghamshire. Haatch, is a leading venture capital firm known for its entrepreneurial roots and commitment to fostering innovation outside of London.

Over the next two years, the Haatch D2N2 ESAIF will invest in approximately 13 companies providing a significant step forward in unlocking the potential of Nottinghamshire and Derbyshire’s startup ecosystem and driving sustainable economic growth.

Further information about the Fund, visit https://haatch.com/investors/haatch-d2n2-esaif/

Delegates representing Destination Chesterfield and the town’s Property and Construction Group also attended the event in Leeds. Read our recent blog from Destination Chesterfield Manager, Dom Stevens reflecting on the success of the event.

For more information about the current business support on offer to businesses in Chesterfield, go to: https://www.chesterfield.co.uk/business/business-support/

D2N2 LEP supports the marketing and economic growth of the town through Chesterfield Champions, a network of over 200 organisations across Chesterfield and North Derbyshire.

Forum at UKREiiF

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Chesterfield business leaders encourage firms to take advantage of local support

Chesterfield business leaders are urging companies across the town to take advantage of a wide range of support being offered, to assist in their growth and innovation.

The recent Destination Chesterfield Round Table discussion, conducted in collaboration with the Derbyshire Times, brought together several organisations to celebrate the reasons why they love working, living and running businesses in the town.

Delegates highlighted how Chesterfield was a town full of opportunities for aspiring entrepreneurs, with its vibrant community, strategic location, access to skill and talent, and robust support ecosystem.

Firms across the Borough of Chesterfield can currently access a wide range of support options. From improving sustainability to upskilling their teams and exploring innovation and growth, the Round Table panel were keen to encourage other businesses in the town to take advantage of the schemes available.

Abigail Phillips, Start-up Advisor at East Midlands Chamber explained more about the Chesterfield Accelerator Scheme, which was launched in late 2023: “The programme provides one-to-one business support. The key thing about it is that our advisors can highlight potential improvements which you may not know about or haven’t considered. A series of workshops are being hosted across our region too.”

Celebrate Chesterfield 2024 exhibition

Cllr Tricia Gilby, Leader of Chesterfield Borough Council commented: “As a council, we hold regular conversations with businesses across a diverse range of sectors, so we have a good overall vision of what is happening across the borough. The Manufacturing and Property & Construction Forums held under the Destination Chesterfield umbrella are a real strength. I am also very keen to highlight the Skills Brokerage Service which Chesterfield Borough Council has launched for businesses, which allows us to talk to a range of organisations about their skills gaps and identify what they need.”

Chesterfield boasts a bustling community of more than 5,000 businesses. Whether you’re starting up, or looking to grow, a supportive network of organisations are more than happy to share advice. From informal meetups to large exhibitions and major summit events, the sense of camaraderie in Chesterfield helps to reassure people when faced with the challenges of starting a business.

Catherine Wenborn, Managing Director at Vines Legal Ltd spoke of her experience of moving her organisation to the town: “We were shy at the beginning, very much newcomers. However, we got involved in networking with other businesses, attending BNI and the Chesterfield Business Expo at Casa Hotel. We soon found that it was great to meet local businesses. It is always hard setting up in a new place, but people are so friendly here, and people always welcome you. There are so many opportunities here, and now I certainly don’t want to go back down south!”

For established companies, being ingrained into Chesterfield’s community becomes a natural progression. Matt Killingley, Business Development Director of NT Killingley Ltd, which has been trading for more than half a century, explained how important it is for business owners to step away from their day-to-day tasks and collaborate with others.

He said: “One of the most useful things for me was being part of a Chamber initiative which saw a group of managing directors meeting semi-formally once every month. It was very useful because we were all non-competing businesses, and it enabled you to step out of your own business, share problems and then discuss possible solutions. Running a business is totally encompassing, and to step away just for a couple of hours and meet with other business leaders is a great idea.”

Around 150 guests seated in rows facing the stage at the front in the function room at Casa Hotel

Abigail Phillips added: “Through adversity, businesses across Chesterfield have bonded together and it has been beautiful to see. People are being honest and helping each other, which provides a great environment for support and collaboration. The more we can have cross-sector conversations, the more we can continue to break down barriers.”

Cllr Tricia Gilby said: “It’s fantastic to see how businesses step forward when we ask them to – showing a real collective aspiration for our place and people. In terms of inward investment, businesses are always willing to come forward and support. We have seen a fantastic response to Destination Chesterfield’s call for new board members, and the appetite of businesses wanting to get involved in the new Chesterfield Town Board has been strong too.”

In addition, delegates at the Round Table explained how being located in Chesterfield, with its central location and proximity to several major cities, was helping to give them a strategic advantage.

Business man in suit with briefcase stepping off train onto platform at Chesterfield Railway Station

Chesterfield Railway Station

Mel Archbould, Managing Director owner of Cloud-Busting, commented: “The location of our town is its greatest strength. We are in the centre of the UK, next to the M1. When the upcoming work has been carried out at the rail station to provide a great welcome to Chesterfield, I think it will be really exciting.”

Catherine Wenborn added: “You can get to up Scotland, or down as far as the south-west either on the train or by road. We’re pretty much bang in the centre, which I consider to be a huge advantage.”

The town’s location also enables businesses to tap into a wide talent pool, with an estimated 7 million people living within an hour’s commute of Chesterfield. Attendees at the Round Table pointed out how they were ensuring they made the most of local skills opportunities to help grow their organisations and create jobs.

Matt Killingley said: “We are working with local schools, trying to promote apprenticeships and we are looking to engage with the potential workforce in our area. Sometimes in business, it is easy to have aspirations you can’t actually enact, but stepping away and speaking to schools and universities helps to promote your business and engage with the next generation.”

Paul Chapman, Owner and Editor of S40 Local Magazine added: “The sense of community in Chesterfield is so different to anywhere else. Look at the links we have between businesses and educators, such as Chesterfield College and the University of Derby. If you’re looking for particular skills, they’ll speak to you and ask what you’re looking for. They’ll then train people up to help get people into jobs, which is excellent.”

Are you a Chesterfield business looking for support to grow or upskill your organisation? Find out more at: www.chesterfield.co.uk/business/business-support

Round Table - Celebrate Local

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Chesterfield firms encouraged to apply for AI skills grants

The government has launched a scheme enabling businesses across the UK to futureproof their teams, by accessing funding for AI skills.

The Department for Science, Innovation and Technology (DSIT) recently announced a £7.4 million pilot scheme to subsidise the cost of AI skills training for small and medium-sized enterprises (SMEs) in the Professional Business Services sector. £6.4 million of grant funding is available.

Through this pilot programme, eligible business can apply for funding for up to 50% of the cost of AI skills training. This is training which supports employees to develop their technical skills and/or understanding of AI to be able to develop, deploy, or use AI in their role. The application window is open until 31 May.

Artificial Intelligence holds huge opportunities to drive productivity and prosperity across the UK economy. It has the potential to increase UK GDP by up to 10.3% by 2030 – the equivalent of an additional £232 billion – and businesses who adopt AI are more likely to be successful than those that do not.

But evidence shows that a lack of AI skills in businesses is hindering AI adoption, in part due to low investment in AI upskilling in UK businesses, particularly in smaller companies.

The new pilot programme will test whether training SMEs in AI maximises the value of adoption AI. Specifically, whether government support in the form of match-funding is an effective way of increasing employer-led upskilling in AI, and whether increased skills translate into AI adoption and firm-level productivity benefits.

Specifically, the pilot has the following objectives:

1. To stimulate employer investment in AI training
2. To address AI skills gaps in the UK workforce limiting AI adoption
3. To measure the impact of AI upskilling on business productivity and outcomes

The funding competition is open to applicants who:

  • Are registered and operate in the UK
  • Employ between 1-249 employees in the UK
  • Are defined as an SME per the BEIS SME Action Plan
  • Have been operating for at least 1 year
  • Are able to match-fund 50% of the cost of the training, and
  • Operate in the Professional and Business Services (PBS) sector

To find out more and apply for the support, go to: https://www.gov.uk/government/publications/flexible-ai-upskilling-fund

For more information on business support, funding and training available to Chesterfield businesses, go to: https://www.chesterfield.co.uk/business/business-support/

 

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Conference urges business growth and collaboration to boost Chesterfield’s economy

Businesses in Chesterfield are being encouraged to explore ways in which they can grow, as part of ambitious plans to improve the town’s economy and create higher-value jobs for residents.

Speakers at Destination Chesterfield’s annual Celebrate Chesterfield Business Conference highlighted ways in which local businesses can harness support to innovate and create new jobs.

They also identified that if all organisations in the town currently categorised as ‘low growth’ experienced just a 1% uplift, it would significantly boost the local economy.

Helping businesses to grow and ensuring people have the right skills are key objectives of Chesterfield Borough Council’s Growth Strategy (2023-2027). To support this, delegates at Celebrate Chesterfield heard from businesses which are innovating and overcoming challenges to boost growth.

Mike Isherwood, Managing Director of event headline sponsor, System Q explained how his business has evolved and adapted to become a supplier to major organisations, including the Ministry of Defence: “We are committed to providing our customers with the most innovative and advanced technology, ensuring their safety and security at all times.

“Our company is proud to be a part of the thriving high-tech community in Chesterfield, a town known for its innovation and progress. Despite the common belief that the best firms and talent are found in larger cities, this quaint town is home to a wealth of undiscovered talent.”

Ash Young, Managing Director of CarMats.co.uk recently relocated his business to the town.

He said: “If we hadn’t done things differently, we wouldn’t have seen the growth that we have. When we set up the business we were aiming for 100 orders per day, but because we changed the way we marketed the products, we are now shipping around 150,000 orders per year and we’re going to turn over about £7.5m this year.

“We’ve managed to hire a really skilled team in Chesterfield and the transport links mean it’s easy for us to get out to couriers easily.”

Amy Revell, of We Are Spaces Ltd recently expanded her business into larger office space at the Northern Gateway Enterprise Centre, having initially moved into the development last year.

She said: “We currently turn over around £7m and have 15 employees, and we are rapidly growing. Chesterfield has played a big part in our growth – we have a lovely office space here which we managed to grow from one of the smaller suites into a larger one. We’ve managed to recruit really good people in the area, and we are strategically placed really well. Being so central has allowed us to grow all of our core services nationally.”

At the conference, Destination Chesterfield also launched its ambitious new strategy and plan, which outlines the partnership’s aims to attract further inward investment, support businesses to grow and encourage more people to visit the town.

Peter Swallow, Destination Chesterfield Chair, commented: “This plan reflects our town’s ambition, and where we collectively see the biggest growth opportunities. Recent research has identified 26% of revenues from tourism, inward investment and talent growth are shaped by people’s perception of a town or city.  Meaning our collective work to promote the town are vital to achieving the towns growth aspirations.

Celebrate Chesterfield business innovation panel, Mike Isherwood, Cllr Tricia Gilby, Adam Doyle

“Since 2010, Destination Chesterfield has worked alongside Chesterfield Borough Council and Chesterfield Champions to promote the area as a contemporary destination to invest, work, live and visit, and our public-private partnership continues to play a central role in the town’s success. We must continue working together to raise the profile of Chesterfield to realise its significant potential.”

Cllr Tricia Gilby, Leader of Chesterfield Borough Council added: “Celebrate is always a fantastic event that showcases the very best that our borough has to offer. It was great to be able to meet with businesses to talk about how the council can support them to grow, but also to hear from them directly and discover what else we can do to drive growth and investment.

“I was also pleased to see a strong reception the new Destination Chesterfield strategy and plan – this aligns closely with our own growth strategy and together we can help grow our local economy, attract more investment and deliver benefits for both businesses and our residents.”

The 2024 Celebrate Chesterfield Business Conference was also sponsored by Markham Vale and the University of Derby. The event also saw almost 40 businesses exhibiting across the East Midlands Chamber Business Support Zone and the Invest in Chesterfield Zone.

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Midlands Engine Investment Fund II launches providing businesses with the funds to grow

The British Business Bank has launched its £400 million Midlands Engine Investment Fund II, unlocking additional funding to help smaller businesses in Derbyshire prosper and thrive.

The fund will drive sustainable economic growth by supporting new and growing businesses across the whole of the Midlands, through investment strategies that best meet the needs of these firms. It includes a range of finance options with loans from £25,000 to £2 million and equity investments up to £5 million to help small and medium-sized businesses start up, scale up, or stay ahead.

The Midlands Engine Investment Fund II aims to build on the success of the inaugural Midlands Engine Investment Fund, a £300m fund which has already supported 739 smaller businesses since its launch in 2017. The new fund will help hundreds more businesses to achieve their potential and further increase the supply and diversity of early-stage finance by providing options to firms that might otherwise be unable to secure investment. Funding is designed to help smaller businesses with activities including expansion, product or service innovation, new processes, skills development and capital equipment.

Five fund managers have been appointed to manage the fund. BCRS Business Loans and First Enterprise – Enterprise Loans will manage the smaller loans part of the fund (£25,000 to £100,000), Frontier Development Capital and Maven Capital Partners will be responsible for larger loans (£100,000 to £2 million) and Mercia Ventures will manage equity deals (up to £5 million).

Louis Taylor, Chief Executive Officer, British Business Bank said: Small businesses are at the heart of The Midlands’ economy. Since launching in 2017, the first Midlands Engine Investment Fund has so far created more than 4,000 jobs across the region by backing 739 smaller businesses, boosting the region’s productivity by 70%.

The first Midlands Engine Investment Fund provided a blueprint for how we can support entrepreneurs and founders, whoever they are and wherever they are in the region, to access the funds and support they need. This new fund will allow us to continue supporting business owners across the Midlands, whether they’re at the start of their journey or are already running an established firm.

Promoting growth by ensuring entrepreneurs can access the finance they need regardless of where and who they are is one of the Bank’s strategic objectives, and vital to unlocking the full potential of the UK’s smaller businesses.

Exchequer Secretary to the Treasury, Gareth Davies MP said: Small businesses are the engine of the economy, which is why having access to funding like this is vital to help them thrive and grow, creating jobs and spreading opportunity everywhere.

As the birthplace of the Industrial Revolution, the Midlands propelled the UK into a new era of technological and economic growth and now the next generation of entrepreneurs will have the support they need to continue this success.

Find out more about support available to businesses in Chesterfield.

Manufacturing at Weightron. Two men working on industrial weighbridge with sparks flying

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Chesterfield businesses encouraged to grow with University of Derby support

Business leaders in Chesterfield are being encouraged to explore how they can realise the potential of their organisations, with support to grow from the University of Derby.

Help to Grow: Management is a practical training course delivered by world-class business schools, accredited by the Small Business Charter focusing on building and strengthening people’s capabilities to lead a business, delivered by the University of Derby across Derbyshire.

This course incorporates hybrid learning, peer group networks and mentoring and will support managers and leaders of small and medium-sized businesses to boost business performance, resilience, and long-term growth. The 12-week course is 90% funded and the fee payable by participants is £750. The course has been designed to allow participants to complete it alongside full-time work.

A new cohort is now available to join this January. Benefits from taking part in the course include:

  • Enhance your management and strategic capabilities
  • Produce a growth plan for your business
  • Build resilience to future shocks
  • Learn how to innovate in your business
  • Adopt digital technologies to boost productivity and operational agility
  • Develop your value proposition and reach into growth markets
  • Improve employee engagement and responsible business practices

One of the course tutors, Dr. Elnerine Greeff, Lecturer in Marketing at Derby Business School, commented: “I’m especially excited to form part of this Help to Grow initiative. The beauty of this programme is that we have businesses which are just starting out now, and we have people with a wealth of experience.

“It is everything that you wanted to learn in your three-year business course at university, condensed and tailor-made to your business, with face-to-face time, mentorship, and absolutely everything that you need to make successful what you are already passionate about.”

Get more information on the Help to Grow: Management programme here. To explore the range of business support available to organisations in Chesterfield, go to: https://www.chesterfield.co.uk/business/business-support/

The University of Derby supports the marketing and economic growth of the town through Chesterfield Champions, a network of over 200 organisations across Chesterfield and North Derbyshire.

Branded stone wall in front of red brick building - University of Derby Chesterfield campus

University of Derby, Sheffield Road, Chesterfield

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