Enterprise Arcade is Place Where Business Dreams are Made
Monday, 4 January 2010
Retail space is now available at Bishop Auckland In-Shops to support the development of individuals through One North East’s Enterprise Journey programme with the regional development agency providing £100,000 for the pilot project.
County Durham Enterprise Agencies is leading the Enterprise Arcade project to help people with a business idea consider starting up in business by providing a safe environment to begin to trade.
Retail space will be provided for people who want to test their business in real time, for a period of up to six weeks in working hours and a real trading environment. The project provides a unique safety net for test-traders with support from on-site business professionals such as Wear Valley & Teesdale Enterprise Agency and Business and Enterprise North East, who will hold ‘clinics’ with budding business people.
It is anticipated that 20 people will be supported by the pilot who have been referred through a range of enterprise projects funded by One North East, with the ultimate aim of creating 10 new businesses.
The Arcade is a temporary fixture aimed at providing a short, sharp stimulus to the local economy providing a venue to convert ‘thinkers’ into ‘doers’ and also fill an empty space on the high street.
Tim Pain, One North East’s Head of Business, Enterprise and Skills, said: “There are two sides to this pilot project. Firstly, we hope to discover and help emerging entrepreneurs who need that helping hand to see if their business has a chance to succeed in the real world, creating 10 new businesses by the end of the pilot period.
“Secondly, the Arcade should create public interest encouraging footfall through In-Shops showing we are responding creatively to the recession while also improving the appearance of the area.
“There is a risk to the local economy of people becoming long term unemployed or talented people leaving the region in search of better opportunities, so it is imperative that we deliver projects like this to help the North East be in the best possible place for economic recovery.”
County Durham Economic Partnership (CDEP) was established in 1994 and comprises over 50 public, private and voluntary sector organisations involved in economic development and economic regeneration of the county. County Durham Enterprise Agencies (CDEA) is leading the Enterprise Arcade on behalf of CDEP. The pilot is to run until the end of March 2010.
Ron Batty, Chairman of CDEA, said: “County Durham Enterprise Agencies are committed to testing innovative approaches to both encouraging enterprise and entrepreneurship, and to maximising the health of our town centres as major contributors to the local economy. This project enables us to test just such an innovative approach to both, and we are delighted to be a part of it.”
Anyone interested in the scheme should contact The Enterprise Agency for Wear Valley and Teesdale on 01833 696 600 or 01388 776688.
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For more information, contact Andy Aston (press office) on 0191 229 6894 or email andy.aston@onenortheast.co.uk