Business & IP Centre supports economic growth

Last week I attended our annual Partner Reception and enjoyed catching up with Goretti Considine from City Business Library, Mark Sheahan our inventor in residence, and many others from the over 150 attending.

This year we also announced the publication of an evaluation report showing how we have supported economic growth in London over the last few years. The report was conducted by economics firm Adroit Economics Ltd and included how many jobs and new businesses The Business & IP Centre has helped create, as well as highlighting some of its success stories.

In summary the report shows that:

  • We have created 829 new businesses for London and sustained 632 businesses
  • We have created 786 new jobs, or 1,615 including the new business owners
  • These businesses have increase their turnover by £32m in the past two years
  • For every £1 invested by the LDA and British Library, we have gained an average turnover increase of £4.61
  • We have generated a Net Present Value of £11.3m to the public purse

The report also shows how much entrepreneurs value our services:

  • 98% would recommend the Centre to others
  • 97% will continue to use the Centre
  • 89% achieved success with the Centre’s help

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