The last five or so years have been tough on Nottingham’s business community but there’s no denying that we’ve turned a corner, with attitudes now shifting from fight to flight.
No more so have I seen this than with the businesses I’ve been working with as part of the Growth 100 initiative.
The programme itself is being delivered by the University of Nottingham in conjunction with Nottingham City Council, and part funded by the European Regional Development Fund. Its aim is to guide Nottingham based company owners and directors through their next stage of growth, giving them the knowledge and skills to help expand and recruit.
As a mentor on the programme I’ve been working with some inspiring entrepreneurs who have not only survived one of the deepest recessions as relatively early stage or small businesses, but have come out the other side with the energy to learn more and grow.
Working with them has reminded me what the business community is all about in Nottingham. Their drive to build up a business, employ local people and set long term goals is infectious. They’re determined to succeed and play a part in our dynamic local economy.
Their aspirations are mirrored across the region at every level, with businesses big and small ready to take the plunge and translate their growing confidence into increased investment.
We’ve seen it already in Nottingham and across the East Midlands in the manufacturing sector. Last quarter local manufacturers continued to report growth in both output and order books, resulting in recruitment being increased by a third of companies. Even more promising is that our monthly Business Trends report, which we released this week, revealed that hiring intentions are at their highest level for 16 years.
This is great news for our talent base and the skilled workers that reside in Nottingham, but also for the graduates from the class of 2014 who now face the most encouraging job prospects since the financial crisis struck.
For businesses with ambition, whether they’re a start-up or mid-sized company looking to expand at home or internationally, there’s a real sense of positivity. The hard graft of the last five years may have taught people a few life lessons but what it hasn’t done is hamper the entrepreneurial spirit at the centre of Nottingham’s business community.