- Entrepreneurial Spark launches impressive 2017 Impact Report
- 3,152 jobs created by its entrepreneurs
- 85% of businesses still trading compared to 40% nationally
- New programme underway to reach even more entrepreneurs
Entrepreneurial Spark Powered by NatWest launched its annual report today, with an even bigger impact on the Birmingham hub and wider UK economy than ever before.
The mind-blowing figures in this Impact Report demonstrate beyond doubt that the world’s largest free business accelerator is at the forefront of an entrepreneuring revolution in Birmingham and continues to build even more people who build better businesses.
A focus on creating growth mindsets and hands-on enablement by Entrepreneurial Spark with the key support of all its partners in NatWest, KPMG Enterprise, Dell Technologies and Pinsent Masons means that over 1,700 businesses have been helped to grow and scale-up across the UK.
Since opening the hub in Birmingham at St Philip’s Place in 2015, entrepreneurs have created 385 jobs and generated more than £20 million in turnover, an average of £102,000 per business. Working shoulder to shoulder in the hub are the Entrepreneurial Spark Enablers Joe Trodden and James Powell and NatWest Entrepreneur Development Manager Lee Currier.
The impressive figures are reflected across all four nations of the UK, with 2016 seeing hubs now open in England, Scotland, Northern Ireland and Wales and across all sectors. Crucially the number of jobs created by those businesses is 3,152, all of which have a positive impact on the UK economy.
In the areas of turnover and investment the figures are even more impressive. The businesses supported by Entrepreneurial Spark have now turned over £176m and secured £151m in investment.
A people-centric and action-orientated approach means businesses that have been through the Entrepreneurial Spark programme have focussed and resilient leaders, and a fantastic chance of growing as a business. 85% of the businesses accelerated are still trading which is more than double the national average.
Entrepreneurial Spark recently created a new suite of programmes which will build even more people who build even better businesses. This evolved model will provide specialised, bespoke enablement for entrepreneurs on all stages of their journey.
Lucy-Rose Walker, Entrepreneurial Spark CEO, said: “We’ve given this Impact Report the title ‘Blow Your Mind’ and it’s not hard to see why. The st
ats are truly mind blowing and we’ve enabled our entrepreneurs to create real jobs, huge turnover and significant investment via our focus on developing their entrepreneurial mindsets and behaviours. Our entrepreneurs have turned over £176m, so it is clear what an impact we are having on the UK economy.
“Our vision is to create positive social change by giving people the chance to grow and create jobs, and value in the economy. It’s really gratifying to see
that those entrepreneurs have now created 3,152 jobs across the UK, all of them creating social change by contributing to their communities and local economies.
“Our partnership with NatWest is such a powerful one and enables us to give hands-on practical help to start-ups of every kind, from that first spark of an idea, right up to bigger businesses needing to scale and grow. We also love working with KPMG, Dell Technologies and Pinsent Masons because as the experts in what they do they offer so much to our entrepreneurs.
“We have another exciting year ahead as we bring our entrepreneuring revolution to London with our 13th hub and launch the first free, dedicated fintech accelerator in Scotland. It’s going to be another mind-blowing year.”
Alison Rose, CEO of Commercial and Private Banking for NatWest, said: “The Impact Report shows that the support our free accelerators are giving to entrepreneurs is working, enabling them to create jobs across the UK, secure millions of pounds of investment and support their local economies. Our hubs are now in every nation of the UK, in many major cities and we are excited to be opening a London hub later this year.”
Since joining Entrepreneurial Spark, Lee Nazari has grown his business, Mobile Pay Systems, a one-stop mobile payment system which ties in Epos, CRM, App and cloud management. He said: “I’ve become much more self-aware and see the impact of the decisions I make. This is particularly valuable now the business has grown in so many areas. I’m breaking new ground in how far I’m taking an idea, and it’s been great to have that shoulder to lean on when needing advice.”