What are Growth Hubs?
Growth Hubs are a government-led initiative designed to provide businesses with access to a range of support services to help them grow and thrive. These services may include access to funding, advice on business strategy and planning, and connections to local networks and resources. The Growth Hub programme was first launched in 2014 as part of the government's Industrial Strategy, and has since expanded to cover most regions of the UK.
How do Growth Hubs work?
Growth Hubs act as a single point of contact for businesses seeking support and advice. They provide a range of services tailored to the needs of each individual business, and can connect businesses with relevant partners and resources in their local area. Growth Hubs may also offer training and workshops on topics such as marketing, finance, and leadership, as well as one-to-one advice and mentoring.
Why are Growth Hubs important for businesses?
Growth Hubs are a valuable resource for businesses looking to expand and grow. By providing access to a range of support services and resources, they can help businesses overcome common challenges and barriers to growth, such as access to finance, lack of skills, and limited networks. Growth Hubs also provide a platform for businesses to connect with each other and with local networks, which can help them to build new partnerships and collaborations. Ultimately, by supporting businesses to grow and succeed, Growth Hubs play an important role in driving local and regional economic growth.
