Entrepreneurs generate £176 million turnover in mind blowing 2016 figures for world’s biggest free business accelerator
· 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 UK economy than ever before.
The mind-blowing figure in the Impact Report demonstrate beyond doubt that the world’s largest free business accelerator is at the forefront of an entrepreneuring revolution and continues to make significantly more entrepreneurs credible, backable and investable every year.
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 enabled over 1,700 businesses to grow and scale-up across the UK.
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. The number of jobs created is 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.
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 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.”
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.”
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.”