NatWest have announced their intention to open a free business accelerator hub in Milton Keynes this September.
The programme, supported by their partner Entrepreneurial Spark, provides entrepreneurs with free office space, Wi-Fi, access to NatWest’s networks and business advice. Banking with NatWest is not a requirement and they will be taking no equity.
In addition to the future centre in Milton Keynes they have already opened hubs in Leeds, Manchester, Bristol, Brighton, Edinburgh, Glasgow and Ayrshire and they plan to open hubs in Belfast, Cardiff, Newcastle and London in the future. They plan to support around 7,000 entrepreneurs over a five year period.
The business accelerator scheme has been successful so far, NatWest claim that over the last three years they have supported 660 companies with an aggregate turnover of nearly £86 million and that they have helped secure just over £45 million worth of investment and created 1,816 jobs. They also report that of the companies which participated in the Entrepreneurial Spark programme nearly 90% are still operating.
If you wish to submit an application to the future Milton Keynes hub you can do so on Entrepreneurial Spark’s website here: www.entrepreneurial-spark.com/locations/#MiltonKeynes
In addition to this, NatWest are making available fee free (no entry or exit costs) small business loans up to £500,000. This is in response to customer feedback that loan set-up and repayment charges are their biggest worry when considering finance to grow and develop their business.