A thriving new business support scheme, run by the City Council, that has helped to create more than 8,000 jobs in Coventry over the last 17 years is set to receive continued support into the next millennium when the Economic Regeneration Policy Team meet on Thursday 8 April.

The New Enterprise Scheme was set up in 1980 to help new small businesses get off the ground. And by removing some of the hurdles that prevent small companies succeeding the scheme has been able to help over 780 new businesses.

The scheme offers fully fitted out workshops and offices at five locations across Coventry, the biggest being at Old Church Road, and is set up to offer maximum support in the make or break early years. The units are available on a flexible ‘easy in – easy out’ basis and rents are subsidised for the first year when most new businesses find cash flow difficult. Business support services are also offered – a typing service, a telephone answering service, a fax machine and access to conference facilities – all the things that are vital if a company is to survive.

Councillor Nick Nolan, Chair of the Economic Regeneration Policy Team said,

"We are keeping our three priorities – jobs, jobs and jobs at the top of the agenda. And as such The New Enterprise Scheme is an essential part of our strategy. It has helped hundreds of businesses over the last 17 years – from a didgeridoo maker to a courier service that now employs 70 people and an IT firm that exports to Europe, the Far East and North America. The survival rate of companies that start up with the help of the scheme currently runs at about 89%, that’s well above the national rate of 60% and proof that the help we provide really does make a difference. There are companies all over this city that are doing well and employing local people thanks to help they got from this scheme."

Over the next few months there will be a number of changes to the existing scheme including improved security, investigations into the merits of providing shared internet facilities and a programme of refurbishment to ensure that the premises meet current business needs.