Velocity Growth Hub to merge with Northamptonshire Growth Hub in a move to help boost business growth

27 November 2018

A new single business brokerage service will improve support on offer for businesses

Velocity Growth Hub is to merge with its sister organisation, Northamptonshire Growth Hub, as part of plans by South East Midlands Local Enterprise Partnership (SEMLEP) to create the best environment to start-up and grow a business.

SEMLEP – the government created, business-led partnership between public and private sector, which operates both Growth Hubs – is to restructure its ‘Growing Businesses’ workstream from 1st January 2019 as part of its Local Industrial Strategy.

To improve and develop support for businesses, a new, single Growth Hub will be created, replacing the current Velocity and Northamptonshire Growth Hubs.

The new service will be the go-to place for business support in the South East Midlands, offering a single entry point for enterprises looking for help and advice around innovation and growth. The single Growth Hub will work proactively with private and public sector organisations to signpost businesses to the organisations with the best skill set to diagnose and solve any challenges they face.

This new operating model will ensure businesses have access to the very best support aligned with their needs, while offering a more efficient experience.

Malcolm Johnston, SEMLEP’s Growth Hub manager, said:

We know from speaking with thousands of businesses each year how beneficial they find our business support services and how our Growth Hubs play a critical role in unlocking barriers to growth and innovation.

 This move enables us to enhance the support we are offering businesses, building on the fantastic work that has been done at Velocity and Northamptonshire Growth Hubs and taking this to the next level in partnership with public and private sector organisations. 

Governed by a business-led board, SEMLEP has a central role in determining local economic priorities and securing investment to support business innovation and growth. This is achieved through its ‘Growing Business’, ‘Growing People’ and ‘Growing Places’ workstreams, which link public and private sectors with academia to drive productivity, job creation and long-term sustainable and inclusive economic growth.