A new initiative has been launched to help start-up businesses across the Tees Valley access the support they need to survive and thrive.
Start2Succeed focuses on enabling entrepreneurs to overcome the many challenges faced by start-ups, by providing the right support, advice and interventions at the right time for them.
Statistics show that eight out of 10 businesses fail within their first two years, and with the significant additional challenges of Covid-19, the need for support for early-stage ventures has never been greater.
The Start2Succeed programme, run by Tees Valley Business Hub, will begin with a series of Business Model Index (BMI) workshops, to check the health of start-up businesses and maximise their potential to succeed, especially through the current economic storm.
The free workshops are geared around the needs of start-ups in the Tees Valley and will provide tailored advice, guidance and support on setting up and starting a business, with a longer-term vision to grow and scale quickly.
The first will take place online on October 22, with further workshops planned for November and December, as the recently-established Tees Valley Business Hub ramps up its support for the region’s business community.
The Tees Valley Business Hub, powered by the SME Centre of Excellence, was opened last month to provide dedicated and on-the-ground support to the area’s business community.
Led by established Tees entrepreneurs Matt Atkinson and Jordan Dargue from its base in Middlesbrough’s Boho Zone, the venture provides expert support in areas including digital, new market entry and product development, to core back office functions including HR, accountancy and marketing.
Matt, CEO of the Tees Valley Business Hub, said: “We know from our own experiences of starting and growing businesses what a great place the Tees Valley is to be based, but we are also well aware of the many challenges a start-up business has to face, and particularly in the present economic climate where many are experiencing hardship and wondering whether they can continue.
“We are here to provide the tailored support to get start-up businesses through this difficult period and out the other side as confident ventures who know where they want to go and how to get there.”
Chief operating officer Jordan added: “Through our workshops, we are tackling the issue of business failure head-on and helping start-ups to address the root cause of these failings and learn how to overcome them.
“By giving the right support and the right advice at the right time, we can help start-up businesses at a crucial stage of development get through the current economic situation and support them in realising their vision for the future, and our workshops are the first steps in doing that.”