Aims and objectives
Programme aims
The main aim of the Enterprise for Success Startup Programme is to build sustainment and improve new business survival rates for the region. Figures for the West Midlands currently show the highest regional enterprise births at 14.2%, but also the highest number of enterprise deaths as a region at 13%.
Across the region we are seeing shifts in the economy, as a result of:
- emerging sectors
- new processes with digitalisation and ecommerce
- efficiencies, particularly around energy use
This presents significant opportunities for entrepreneurs with a potential for accelerated growth.
A successful business startup has:
- desirability - they know there is a market
- feasibility - they have tested their model and business plan
- viability - they know they can deliver their plan through adequate resources and finance
The programme will ensure survival and growth for startups by bringing in specialist support, guidance and peer-to-peer networking. This will be provided by our contractor Blue Orchid Enterprise Solutions Limited, in conjunction with the Prince’s Trust and Rock Solid Consulting.
Programme objectives
Our objectives are to:
- support the registered number of startup businesses within the region
- support business survival rates within the region
- enable startups to access relevant support including finance, premises, and skills
- support startups with a credible business plan and financial forecasting
- equip entrepreneurs with the leadership and management skills to support their early stage business
- link to wider mainstream and specialist support across the region to support their continued growth and development
- facilitate local recruitment, business growth and productivity
The programme will be focused on key target markets to stimulate economic growth, including:
- high-value startups with high projected growth potential
- priority clusters, as identified in the WM Plan for Growth
