BABERGH BUSINESS CENTRES: PLANNING FOR THE NEXT GENERATION OF COMPANY SUCCESSES

“Sometimes managing success can be the most challenging thing in the world”. Neil Henry, Babergh District Council’s Economic Development Manager was speaking at the launch of a new initiative aimed at further supporting new and small businesses in the Sudbury and Hadleigh areas.

The two Babergh business centres, which are run in partnership with Suffolk County Council, provide new firms with a lower-than-market rent and reception and administration back up in the first few years of their existence. All of the 24 units at the South Suffolk Business Centre in Sudbury have been occupied for sometime, whilst the newer Hadleigh Business & Learning Centre has an occupancy rate of nearly 90%.

The key to the success of both ventures is to ensure a reasonable turnover of businesses, such that new start-ups can take advantage of the facilities as slightly more established firms move onto larger premises elsewhere.

As a result, Babergh and Suffolk are continuing to invest in services for these companies. In addition, they are both considering contributing towards the costs of businesses moving out of the centres, as well as developing plans for new managed office spaces catering specifically for such established firms.

Such a scheme will be self financing in that the Councils be raising additional revenue from those businesses who have been at the centres for more than three years through a modest increase in their currently very low rents.

“We are striving to both help existing businesses to make the next phase in their growth a success and to ensure that the next generation of start-ups has the same opportunities as the previous one” explained Neil Henry.

As part of the new initiative, both councils are planning to use this extra money to invest further in the facilities and support available at both the Sudbury and Hadleigh centres. ENDS

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Paul Simon, Communications & PR Manager (01473) 826634