Tuesday, April 23, 2013

News: AMP firms grow with Goldman Sachs


Two Rotherham firms that have taken part in Goldman Sachs' 10,000 Small Businesses UK programme, have both taken on new staff.

Fripp Design and Research, one of the UK's leading product design, research and business consultancies, and engineering design specialists, Performance Engineered Solutions Ltd (PES) are both based on the Advanced Manufacturing Park (AMP). They both secured a place on the Yorkshire version of the scheme, funded by the investment bank and run by the Leeds University Business School.

The programme enables SMEs to achieve their growth potential with targeted support and resources. Each participant undertakes the programme as a member of a cohort of 25 to 30 entrepreneurs. The core of the programme, undertaken by all participants, is a cycle of 12 modules each focused on a different aspect of business growth.

Since the launch of 10,000 Small Businesses UK in October 2010, the program has reached nearly 500 leaders of high-growth small businesses and social enterprises across Yorkshire and Humber, the North West, the Midlands and London.

A progress report, published today, showed that two thirds – 66% – of participants indicated that, compared to the same period in the previous 12 months, their turnover had increased. 92% of participants reported that they are now more confident in their ability to succeed in growing their businesses.

The report also showed that 77% of participants are creating net employment after the programme, compared with 24 percent of the wider small business population. On average, participants reported an annual increase of 23 percent in their net employment.

In March, both Fripp and PES Ltd hired new designers.

On taking part in the programme, Tom Fripp, managing director of Fripp Design and Research, said: "The programme gave me access to a calibre of people, participants and presenters that I would never have had before. It was a privilege to be involved in such a high profile scheme, and we benefited enormously."

Speaking at The 10,000 Small Businesses UK alumni conference, Lloyd Blankfein, chairman and CEO of Goldman Sachs, said: "Our approach to 10,000 Small Businesses is that this is more than just philanthropy. This represents an investment that is self-sustaining and that has a compounding effect on local communities through economic growth and job creation."

Recruitment for the next cohort, due to start in the Autumn, is underway.

Fripp Design and Research website
PES Ltd website
Goldman Sachs 10,000 Small Businesses website


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