Northamptonshire’s Business & IP Centre was launched in February 2017, and is one of 14 Centres nationally offering entrepreneurs the opportunity to take advantage of free intellectual property and business information and expertise.
Figures released last month by the British Library reveal the extraordinary impact the Northamptonshire Library’s Business & IP Centre is having on the local economy, entrepreneurs and small business landscape. The independent report shows that over a three-year period, the Business & IP Centre Northamptonshire has helped to create:
- 217 new businesses
- 197 additional jobs
- A boost to local economies: £1.7million gross value added for Business & IP Centre supported businesses
- An impressive return on public investment: £6.95 for every £1 of public money spent, across the Business & IP Centre Network
Deputy Leader of Northamptonshire County Council, Councillor Lizzy Bowen said:
“We are delighted that our work with the British Library has enabled so many local business and entrepreneurs to succeed. I hope that these figures encourage more prospective small business owners to access the help available.”
Between January 2016 and December 2018, the Business & IP Centre Northamptonshire supported over 1,100 people through direct face-to-face support. This personalised, accessible approach is breaking through traditional barriers to starting and growing a successful business, reaching people who are under-represented in the business community.
Of those who started a new business with them:
- 67% are women – over three times the national average
- 26% are from a Black, Asian and Minority Ethnic background - over five times the national average
- 9% are people with a disability
- 23% are aged 35 and under
- 31% are from the most deprived areas of Northamptonshire
- 55% are driven by making a social or environmental impact
Businesses that have started with the libraries’ help continue to demonstrate strong survival rates. On average, over 40% of businesses fail after their first year of trading, yet of the businesses started with the National Network’s support between 2012 and 2018, nine in ten were still trading in 2019.
Find out more about the services on offer on Twitter @BIPCNorthants.