How to grow your business in Newcastle

Newcastle is one of seven local authorities’ and the bustling capital in the centre of the North East of England, a prime area for businesses to locate and thrive with one of the UK’s fastest growing economies.  

Maven caught up with Newcastle Council’s economic development team to help local businesses understand the opportunities available when starting and growing a business in the city.

With one of the fastest growing technology hubs outside of London, Newcastle boasts a vibrant digital cluster. The city also has four centres for excellence in ageing, big data, energy and, subsea and offshore engineering and two great universities working proactively in the business community.

Local businesses such as employee engagement Software-as-a-Service (SaaS) platform, Hive HR, and in-house developed, innovative ecommerce platform, Aero Commerce are already benefitting from the North East Development Capital Fund to support business growth and create jobs across the County.

In Maven’s latest blog, John Musham, Manager of the Business & IP Centre, highlights the opportunities for local businesses and how to access advice and funding for SMEs across Newcastle and the wider North East.

1. Please can you tell us a little bit about yourself – what does BIPC Newcastle do and what’s involved in your role?

Business & Intellectual Property Centre (BIPC) Newcastle Business is one of a network of 14 BIPC’s located in England and Scotland. All BIPCs are located within main city libraries and the network is free to access and coordinated by the British Library BIPC. .

We have a team of staff, trained by the Intellectual Property Office, who help start-ups and businesses to understand intellectual property and how it can be used to protect innovations and ideas and used as a tool for growth. The team delivers twice-weekly IP Surgeries, which can be booked online providing IP information and guidance and support to carry out trademark and patent searches. Where we need to bring in an IP professional to provide additional advice we can arrange an appointment with one of our IP Experts in Residence HGF, Bailey-Walsh or Ward Hadaway.

BIPC’s other core services include:

• Business Information to help businesses to start-up and grow.
• Business Events and Workshops: an extensive programme of business events and workshops on a range of topics.
• Experts in Residents: providing advice and information on their area of expertise.
• Start-Up Support: targeting residents contemplating self-employment or in the process of setting up a new business venture.

Part of my role within Newcastle City Council’s Economic Development Team, is to manage the BIPC and generate new activities, supported by Nicky Campbell,  Alice Rippon at Skills Hub and the excellent IP and business information team, here at the Library.

2. Since the North East Fund launched in 2018, what is the biggest change you’ve seen amongst the region’s business community?

Awareness of the North East Fund has grown steadily since the 2018 launch. Information about the funding options available is easily accessible and the North East Fund team are often to be found at business events and expos. Businesses are becoming increasingly aware that there are a range of regional funding options available and of North East Fund’s place in that ‘mix’. Many businesses have put expansion plans on-hold, gripped by Brexit paralysis, but 2020 should see more clarity and, hopefully, businesses will have more confidence to invest. North East Fund could have a big year in 2020!

3. What would you say to a business that is put off by taking on investment and would prefer to grow their business organically?

Having a well-informed growth plan and seeking the right investment, at the right time, can help growth to be achieved more quickly and on a larger scale than would be possible if the founder relied on organic growth to deliver results. However, it is also important to remember growth is not just achieved by the injection of cash it also requires an injection of expertise to apply it effectively.

4. What do you think are the main obstacles to accessing finance to grow that North-East businesses face today?

Funders will need to see that a business has a well-constructed, well informed and realistic growth-plan. Too many companies still approach funders ill-prepared to present a viable case for investment. Support is available from funders and from within the North East’s business community, including BIPC Newcastle, to ensure that a business is investment ready.

5. As a growing business in North-East, where should you start your funding journey?

The North-East Growth Hub website should be the first point of reference for any business looking to explore funding opportunities and sources of business support that can help them to achieve their growth aspirations.

6. What is the one thing local entrepreneurs might not know about BIPC Newcastle?

Whilst BIPC Newcastle offer a range of services to support anyone setting up a business or looking to grow, the importance of understanding intellectual property is still under-estimated by many north-east businesses. Business owners really do need to understand IP at the outset, in order to ensure that their ideas are protected and that they do not infringe another company’s IP. Intellectual property should be a crucial element of every business plan, underpinning growth, supporting funding applications and helping businesses to avoid making, potentially, costly mistakes. Go to www.bipcnewcastle.co.uk to see how we can help you.