The Entrepreneurial Spark business accelerator programme has released it’s ‘mind-blowing impact report’ which shows its start-up businesses turned over £176m last year.
Entrepreneurial Spark has released its annual report which shows it had an even bigger impact on the UK economy last year than ever before.
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 is has now helped over 1,700 businesses to grow and scale-up across the UK.
These 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. The number of jobs created is also a massive 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.
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 stats 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.”
Entrepreneurial Spark also 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.
Nicola Sturgeon, first minister of Scotland, said: “The entrepreneurial buzz around RBS’s HQ when I helped open the new entrepreneurial hub in 2016 was phenomenal and really signalled a change in the way the bank is being run.
“I am delighted that the bank’s partnership with Entrepreneurial Spark continues to go from strength to strength and more and more entrepreneurs are creating great businesses as a result.
“It is vital for the economy that start-up businesses are given all the support they need to succeed and the combination of the bank’s networks and connections and Entrepreneurial Spark’s know-how is a powerful mix.”
Kristen Hunter owner of Whisky Frames, which creates frames from reclaimed whisky barrels, commented on Entrepreneurial Spark’s invaluable support since joining the business accelerator programme.
Hunter said: “Entrepreneurial Spark has provided me with confidence and the knowledge I needed to make a big leap forward with the business. The workshops and clinics offered at the hubs have helped us a great deal, and we’ve been exposed to a lot of networking opportunities which has completely transformed Whisky Frames.”
Turnover has also significantly increased for Scott Weir, CEO of Pillow, a property management specialist and holiday home sourcing company. Weir added: “Pillow was just side project at first, but with the encouragement of Entrepreneurial Spark I changed my plan from targeting local properties under management to expanding nationwide. Already, that is worth hundreds of thousands of pounds in business we wouldn't otherwise have made.”