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Mansfield in top ten for business start-ups

Councillors at Mansfield District Council have welcomed the findings of new research which shows that Mansfield is in the top ten locations to start a business in the UK.

New research shows that Mansfield came ninth out of the 63 largest UK towns and cities studied by Informi, a website offering free practical advice and support for small businesses.

It based its findings on the number of business start-ups and closures over three years, as well as other factors that can prove important for small and medium-sized businesses (SMEs) to thrive. These include digital connectivity, property prices and pollution levels.

Mansfield scored well because of its low number of business closures in 2015 along with a low overall 'business churn' rate. The churn rate is calculated by comparing the number of business births with the number of business deaths. Among businesses that have set up in the past couple of years are Prior's Well Brewery (pictured). 

Ipswich topped the list, predominantly due to its low pollution levels, high levels of ultra-fast broadband, and a low rate of business closures. Dundee was second, mainly due to a low churn rate. Third placed Derby enjoyed a high number of patent applications and had the eighth best digital connectivity in the UK. Nottingham was the only other East Midlands location to make the top 20, coming in 12th.

Recent figures about Nottinghamshire's top companies based on company turnover and compiled by the University of Derby and leading tax advisory company KPMG, show that five of the top 200 are based in the Mansfield district.

Cllr Dave Saunders, Portfolio Holder for Regeneration and Growth, said: "It is fantastic news that Mansfield is proving a great place in the UK to set up a business. 

"The council is very supportive of new ventures and there are various grants and services available to help both new enterprises and more established businesses. This support can only have positive effects for the local economy and jobs market."

In 2012, Mansfield District Council and Ashfield District Council set up a joint Regeneration Service with the main objective of stimulating business growth across the two districts. So far in 2017, more than 70 businesses have benefited from a range of grants available including:

  • Business Start-Up Grant - up to £1,000 to be used towards start-up costs such as buying machinery and equipment, and marketing costs such as advertising and web design. Call 01623 463174 for details.
  • Business Growth Grant - up to £5,000 for established businesses who produce a viable growth plan that creates at least one full-time job. Call 01623 463174 for details.
  • Business Rates Relief - subject to certain qualifying criteria, 100% relief available for  business properties with a rateable value of up to £12,000 and partial relief for business premises with a rateable value of between £12,001 and £15,000.  Call 01623 463162 for details.
  • Apprenticeship Grant - up to £1,500 available for SME employers.  Qualifying criteria apply. Call 01623 463152 for details.
  • Mansfield Market trader support new traders, selling under-represented products, could get a rent-free stall for up to 12 months. Call 01623 463733 details.
  • Shop front improvements grant for independent retailers, wishing to enhance their shop front. Call 01623 463174 for details.
  • Vacant shops grant for independent retailers taking occupation of a vacant property to help cover the cost of improvements to premises, fixtures and fittings, rental payments, insurance premiums, advertising and marketing. Call 01623 463174 for details.

The service can also offer information on other grants that may be available from other sources, too. Two local businesses have benefited from significant Nottinghamshire County Council grant funding for which the Regeneration team helped them to apply.  

In addition, it offers other forms of support for businesses, including: business information events, jobs fairs, a business network directory, information on how to procure local public sector and private sector contracts, help to identify suitable business premises in the area, events to celebrate success and showcase the area as a place to do business, and business surveys to help companies identify areas of work. Call 01623 463499 for help or see online.

Published on 5 October 2017

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