The regional development agency One North East approved an innovative business support project with intensive, specialised coaching assistance to fast track the performance and growth of over 150 local enterprises.
The Agency has commissioned Entrust, a business development organisation, to manage and co-ordinate the the “Coaching for High Growth” project for North East SMEs with high growth potential. Working with other organisations including Business Link, MAS North East, regional universities and centres of excellence, Entrust will identify businesses and help them move on to the next stage of development.
Potential candidates will be recommended by these organisations and assigned to client managers and coaches, individuals capable of supplying mentoring and coaching activities, business support and training, who will work with them to develop growth plans with specific targets. The average value of coaching support per beneficiary company is expected to be over £20,000.
The “Coaching for High Growth” project is being part financed by £1.18m from the European Regional Development Fund (ERDF) 2007-13 and matched by One North East contributing a further £1.78m as part of Solutions for Business, the Government’s package of publicly funded business support designed to help companies start and grow.