To deliver on our Local Industrial Strategy, a comprehensive Business Growth Service has been designed to fuel growth in Business & Skills across all of Cambridgeshire and Peterborough. Our vision for this service is to accelerate the rebound and regrowth of our economy, to lead the nation out of recession and rebooting it to achieve our ambition of doubling GVA over 25 years, in a way that is more sustainable, greener, digitally enabled, and inclusive.
What will the Business Growth Service achieve?
A key intervention potentially providing around half of all jobs growth generated by the Business Board over the next 6 years, accelerating start-ups, scale-ups & set-ups.
How will it work?
The Business Growth Service will have four pillars:
Growth Coaching Service
Inward Investment Service
Skills and Apprentices
Capital Grants and Equity Investment
1: Growth Coaching Service
Proactively targeted to businesses
Helping businesses break down and overcome growth-barriers
Market Growth Advisors as trusted and impartial brokers
Bespoke packages of advice and coaching for the business leaders
Exclusive Nudge Grant to encourage businesses into taking up BGS
2: Inward Investment Service
Targeting investors to place
Effective lead generation
High quality landing support
Inward Investment Specialists as trusted and impartial experts
Develop longer-term relationships with target companies
3a: Skills Service – Digital Talent Portal
Support employers providers, schools, colleges, higher education, parents and residents to navigate effectively through the complex skills landscape
The portal will equally support employers with tailored support.
Employers will complete a diagnostic assessment that places them on the Maturity Index, and be signposted to support and resources appropriate to their level.
3b: Skills Brokerage Service
Support the promotion of Apprenticeships to connect employers, providers and learners.
Encourage and increase work experience, T Level Industry placements, traineeships, apprenticeships, and graduate placements particularly through wider employer engagement and involving supply chains.
Expansion and development of Apprenticeship Levy Pooling Marketplace
The creation of 1,600 apprentices and 1,000 additional learning outcomes
4: Capital Growth Investment Fund
Blended grants, loans, and equity products unavailable commercially
Combined pot value in excess of £11 Million
Tailored investment packages blending products to match needs