Business Growth Service

What is the Business Growth Service?

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