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New £2million Enterprise Centre opens


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A new £2 million Peterborough Enterprise Centre, which opened in the city centre this month (May), is offering an expanded range of services for people who want to start their own business.

The 2,600 sq ft centre – at Market Chambers, overlooking Cathedral Square – has been created by Peterborough City Council with financial support provided through Greater Peterborough Economic Development Partnership.

Funding until December 2007 is being provided by East of England Development Agency (EEDA) and the European Union Regeneration Development Fund, which is designed to encourage economic growth among people who live in deprived neighbourhoods.

Enterprise Centre opening


It will provide a base for four business advisers and ‘hot desks’ for eight additional counsellors, plus accommodation for The Prince’s Trust, which helps the ‘hardest-to-reach’ young people aged 18 to 30 to start businesses. Training rooms will provide budding entrepreneurs with essential skills in marketing, finance, law, book-keeping, business planning, effective use of information technology and sales techniques.

The centre will be managed by Business Link for Cambridgeshire and will build on the success of the Peterborough Enterprise Programme (PEP), which has around 10 years’ experience of providing business start-up guidance in the city.

The initiative is also supported by Peterborough Regional College and, to promote new environment-related businesses, Peterborough Environment City Trust (PECT) and the Peterborough-based UK Centre for Economic and Environmental Development.

Peterborough City Council Chief Executive Gillian Beasley said: “This new Peterborough Enterprise Centre is playing a vital role in our plans for the city’s successful growth. New business start-ups represent an important segment in the 18,000 new jobs that we need to create to achieve our target for a 40,000 growth in population by 2021.

“These new businesses will be able to service the needs of larger firms that we hope to attract and, as they grow, they will offer new employment opportunities for many more people.

“Peterborough is already an enterprise ‘hot house’ with more than double the national average increase in new VAT registrations for the period from 2000 to 2004. This new centre will provide our budding entrepreneurs with the professional advice and training that they need to contribute to Peterborough’s successful future.”

The council’s economic regeneration manager Neil Darwin added: “The centre will serve as the hub for business support activity targeted specifically at individuals, communities and small businesses in some of the city’s most deprived areas.

“The opening of the centre is a significant step in the transformation of the city into a ‘hotbed of sustainable, entrepreneurial activity’ – a vision that has guided the work of the partners engaged in the development of the project.”

May 2005

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