BIC Client benefits from Grow on Growth Fund
A PR agency based in Stafford has benefitted from the Regional Growth Fund’s Grow on Growth Initiative allowing the company to move from its existing office within the Business Innovation Centre to a beautiful town centre building, immediately opposite St Mary’s Church in Stafford.
The Grow on Growth Fund provides grant funding to support businesses moving from incubation, allowing them to enter a new stage of expansion and development. Financed by the Regional Growth Fund and managed by the University of Lincoln, grant funding can be used to support capital investment in property, refurbishment, commercial rent, equipment, IT and new technology investment as well as staff recruitment and training costs.
Stone Junction, an agency that specialises in PR for technology and engineering firms is recruiting a further four members of staff hence their need to move and invest in new technology to help manage its growth.
“One of the key things about Grow on Growth is that it covers commercial rent – as well as everything from fit out to training and technology,” explained Stone Junction Managing Director, Richard Stone. “This is the holy grail of business funding really – increased rent is a key fixed cost that stops many small companies leaving incubation space.
“Our own incubation unit was on Staffordshire Technology Park, in the Business Innovation Centre. Initially we were in a two man office operated by the BIC and later we moved to an eight person unit managed by the local authority. Both spaces have been key parts of our development and both were equally brilliant. I can’t recommend them enough.
Stone Junction – Stafford
“I would urge other small business owners to take the next step upwards, particularly as there are now so many funded, part funded and subsidised options for offices.”
Businesses interested in taking advantage of Grow on Growth to move out of an incubation environment should contact Arnaud Drapier at the University of Lincoln on +44 (0)1522 837847 http://growongrowth.co.uk
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