NatWest launches new business hub for entrepreneurs

A new business hub to help entrepreneurs build up their business has been launched by NatWest. The company has opened the Entrepreneurial Spark business hub at its Hardman Boulevard office in Manchester.

Research carried out by market research company Populus for NatWest showed that 23 per cent of people in the North West wish to start up their own business, but over a third believe that the process is too risky.

Support

Research also revealed that over 70 per cent of people in the region believe that the Government’s Northern Powerhouse proposal, which aims to boost economic growth, will only have a positive impact on businesses if entrepreneurs are provided with support.

The new business hub aims to tackle some of the problems faced by budding entrepreneurs by helping them with starting up and growing their business. Eighty startups have now secured a place at the hub and will be given the opportunity to take part in the programme for six months. Businesses that show the most potential will be given the option of staying on for a further 12 months.

Businesses will receive assistance with starting up their business, including mentoring from advisors from KPMG, who NatWest has launched the hub in partnership with. Training and workshops will also be provided.

Big difference

The Manchester hub is part of a number of hubs that are currently being set up around the UK. There will be a total of 13 hubs by 2017, which will provide support for around 7,000 entrepreneurs over the next five years.

RBS CEO of Commercial and Private Banking, Alison Rose, said: “The region is highly entrepreneurial, but with over a third of people in our latest research too worried about the risk, it’s really clear that the right support could make a big difference to would-be entrepreneurs.”