A leading North East provider of workspace and business support has provided a £2.5bn boost to the region’s economy since opening its doors 30 years ago, research has revealed.
An impact report conducted by the North East BIC shows how one of the region’s largest social enterprise – which currently houses over 300 companies across four business centres – has helped create and support thousands of jobs.
Providing a home to over 1,100 businesses over three decades, the economic impact of the BIC’s flexible workspace is estimated to be in excess of £1bn, with its free business start-up support also helping to launch over 6,000 firms, representing an economic contribution of over £750m.
Add to that the numerous other business support initiatives the BIC has delivered, including innovation advice and grant funding, and the research has calculated an overall economic boost of over £2.5bn.
