Buckinghamshire businesses to be given a boost

Businesses in Buckinghamshire are set to be given a boost by Buckinghamshire Council thanks to a £1.1m investment from the UK Shared Prosperity Fund (UKSPF) into targeted programmes of support delivered by Buckinghamshire Business First.

The funding will be used to strengthen the Buckinghamshire economy by providing tailored support to help businesses grow, increase productivity, and drive innovation and employment. In line with Buckinghamshire Council's ambition to reach Net Zero by 2050, some of the funding will also help businesses reduce energy costs through energy efficiency measures and other net zero initiatives. There will also be a programme of bespoke business advice focused on supporting businesses in rural areas to access funding and to diversify.

Buckinghamshire Business First is the Growth Hub for the county and over the last decade has developed stand-out business support programmes that have been proven to help businesses grow, innovate and be more sustainable.

Despite the pandemic and a host of other challenges in recent years, nearly three-quarters (73%) of businesses that received support from Buckinghamshire Business First's Growth Team increased their turnover, and nearly half (44%) increased productivity. This support is forecasted to produce a combined increase in turnover of £103 million and a £36 million boost to the economy in Gross Value Added (GVA), as well as an incredible 200 new full-time jobs.

Philippa Batting, Managing Director of Buckinghamshire Business First, said: "This investment of UKSPF funding brings a unique opportunity to build on our successful stand-out Growth, Net Zero, and Rural business support initiatives that have helped thousands of local businesses grow, innovate, and create new local jobs."

Philippa continued: "Helping to create a thriving and prosperous economy will in turn support the wider Buckinghamshire community. We want Buckinghamshire businesses to grow sustainably in a way that protects our natural environment and improves the social wellbeing of its residents and workforce."

Martin Tett, Leader of Buckinghamshire Council, said: "We are delighted to be able to allocate this funding across a range of business support organisations who will help develop and grow Buckinghamshire businesses and equip our next generation of entrepreneurs. In Buckinghamshire, we pride ourselves on being a county where small and medium businesses thrive and this funding helps us to ensure that legacy continues. Lots of our local businesses have faced real challenges in the past few years, but I hope that the initiatives we are funding here will give them a much-needed boost and ensure continued growth and development for our local economy."